We have also launched two monetary policy instruments providing direct support for the real economy, which helped MSBs to get access to loans. At the end of 2022, the outstanding balance of inclusive MSB loans was close to RMB24 trillion, with their interest rates dropping from 6.3 percent in early 2018 to 4.9 percent, and over 56 million MSBs benefited from this initiative.
In order to support green development, in November 2021, the PBOC launched carbon  4/5  BIS - Central bankers' speeches  emission reduction facility (CERF), encouraging financial institutions to lend at preferential interest rates to market entities operating in key areas of carbon emission reduction.