The central bank and the national development and Reform Commission decided to carry out the pilot of special refinancing for inclusive elderly care and support the increase of the supply of inclusive elderly care services

According to the requirements of the executive meeting of the State Council, the people’s Bank of China and the development and Reform Commission decided to carry out the pilot work of special refinancing for inclusive elderly care, guide financial institutions to provide preferential loans to inclusive elderly care institutions, and reduce the financing cost of elderly care institutions. The pilot amount of Pratt & Whitney pension special refinancing is 40 billion yuan, the interest rate is 1.75%, the term is one year, which can be extended twice, and financial support is provided in the same amount as the loan principal issued by financial institutions. The pilot financial institutions are 7 national large banks, including China Development Bank, export import bank, Industrial And Commercial Bank Of China Limited(601398) , Agricultural Bank Of China Limited(601288) , Bank Of China Limited(601988) , China Construction Bank Corporation(601939) , Bank Of Communications Co.Ltd(601328) . The pilot areas are five provinces including Zhejiang, Jiangsu, Henan, Hebei and Jiangxi.