Basic introduction to commercial bills
Commercial bills are an important tool for corporate financing and turnover. The so-called rediscounting is the central bank's act of providing financing support to commercial banks by purchasing discounted but not yet mature commercial bills held by commercial banks. Data shows that since last year, the central bank has continued to increase its support for rediscounting. Rediscounting has become a monetary policy tool used by the People's Bank of China to provide liquidity, guide the credit investment of financial institutions, and promote the adjustment of credit structure.
“As an important monetary policy tool, the ‘central bank bill financing’ business has made useful explorations in expanding financing channels for small and micro enterprises and reducing financing costs.”
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