Agriculture key of central bank credit policy

The key area of the credit policy by People's Bank of China this year is to support the development of modern agriculture, Shanghai Securities News reported on Friday.

PBOC will be committed to improving policies in such areas as mortgages of rural land contract management rights, and housing property rights.

Loans should accommodate technological industries to sustain structural adjustment. Emphasis should be given to such factors as information consumption, alternative energy automobiles and photovoltaic industries.

In terms of urbanization, the central bank will give more support to transportation, infrastructure, and comprehensive management of urban land. Preparation will be made for government bond issuance to broaden financing channels.

With housing loans, priority will be given to first-time home buyers. Last year's policy favored those purchasing small and medium-sized houses.

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