Beijing, China - May 10, 2025 (CCTV - No access Chinese mainland)
1. Screenshot of announcement on official website of People's Bank of China (PBOC)

FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
2. Various of PBOC headquarters

FILE: Beijing, China - Feb 2020 (CCTV - No access Chines mainland)
3. Various of clerks working in Bank of China

FILE: China - Exact Location and Date Unknown (CCTV - No access Chinese mainland)
4. Various of yuan banknotes going through cash counting machine
5. Various of bundles of yuan banknotes

Xinjiang Uygur Autonomous Region, northwest China - Recent (CCTV - No access Chinese mainland)
6. Elderly women on platform at railway station
7. Various of elderly people in dining car of train

Zhongwei City, Ningxia Hui Autonomous Region, northwest China - Recent (CCTV - No access Chinese mainland)
8. Various of elderly people taking blood pressure, blood oxygen test on bus, first aid kit

FILE: Chengdu City, Sichuan Province, Southwest China - July 2024 (CGTN - No access Chinese mainland)
9. Various of children singing for elderly; elderly joining children in craft activities
10. Various of hair salon, sewing room in community service center

FILE: Shenzhen City, Guangdong Province, south China - June 2022 (CCTV - No access Chinese mainland)
11. Various of maternity nursing training course in progress
12. Various of cooking course in progress
13. Various of housekeeping course in progress

The People's Bank of China (PBOC) announced on Friday to set up a 500 billion-yuan (about 69.28 billion U.S. dollars) re-lending program for service consumption and elderly care, to stimulate financial support on relevant industries.

The annual interest rate for the re-lending program is 1.5 percent, with a term of one year, which can be extended twice, and the maximum period of use is no more than three years.

According to the PBOC announcement, the recipients of the re-lending are 21 national financial institutions, including the China Development Bank, non-commercial banks, state-owned commercial banks, and the Postal Savings Bank of China, along with five city commercial banks: the Bank of Beijing, Bank of Shanghai, Bank of Jiangsu, Bank of Nanjing, and Bank of Ningbo, which are systemically important financial institutions. The policy will be implemented until the end of 2027.

The above 26 financial institutions will make independent decisions on whether to grant loans and the eligibility conditions upon the application of market entities and following the assumption of risk principle. For loans in areas eligible for the policy support, the institutions can apply to the PBOC for re-lending equal to 100 percent of the loan principal on a quarterly basis, and are responsible for the authenticity of the loan information submitted.

Based on the applications, the PBOC will issue re-lending to the financial institutions in accordance with relevant policy regulations, and strengthen follow-up verification and supervision.