After the earthquake hit Jishishan County, Linxia Prefecture, Gansu Province, the People’s Bank of China (PBOC) Committee of the Communist Party of China (CPC) immediately implemented the important instructions of General Secretary Xi Jinping and the requirements put forward by Premier Li Qiang. Governor Pan Gongsheng made arrangements at the first time, requiring relevant departments and branches to activate the emergency response mechanism to ensure adequate financial services for earthquake relief. First, the PBOC intensified support for monetary policy tools, and prioritized the need for contingency credit funds. Second, the PBOC opened a “green channel” for the remittance and transfer of treasury funds, thus ensuring the timely disbursement of relief funds. Up to now, the Gansu and Qinghai branches of the PBOC have appropriated RMB170 million and RMB50 million respectively. Third, the PBOC guaranteed the safe and smooth access to financial infrastructures such as the payment system, the clearing system and the credit reference system, and resumed the financial services in earthquake-hit areas as soon as possible. Fourth, the PBOC allocated funds for issuance in a reasonable manner to ensure an adequate cash supply for people’s livelihood and disaster relief.
Moving forward, the PBOC will closely monitor the impact of the disaster, continue to provide enough financial services for earthquake relief, and press ahead with relevant measures to support earthquake relief work and post-disaster reconstruction projects.
