Chinese central bank - the People's Bank of China (PBOC) will initiate research and drafting of guidelines on financial supports for poverty reduction, Financial News, a newspaper under PBOC, cited deputy governor of the central bank Pan Gongsheng as saying Thursday.
PBOC required establishment and good use of re-lending, active fundraising to support relocation of residents in poverty-ridden areas, better monitoring and appraisal of financial policies for poverty reduction, and more effective precision poverty reduction to alleviate poverty.
The Chinese central bank also urged strengthening financial infrastructure construction via widening coverage of payment and clearing networks, supporting outlets of financial institutions in poverty-ridden areas to be linked with its cross-bank payment system and the payment system of Rural Credit Banks Funds Clearing Center to guide financial services resources to flow into rural areas.
Besides, PBOC intended to reinforce local social credit system construction to fight such illegal financial activities as debt escaping and default, illegal fundraising and securities business to regulate local financial system order and stability.
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