China's central bank has extended the deadline for victims of the May earthquake who can not repay their loans. The People's Bank of China, says individuals who borrowed money before the May 12th earthquake in Sichuan Province will have until the end of June to repay loans that were due in 2008.
China'scentralbankhasextendedthedeadlineforvictims
oftheMayearthquakewhocannotrepaytheirloans.
The grace period for corporations will be extended until the end of 2009. In August, the country's banking regulator told local financial institutions to provide more loans in the quake zone.
It also ordered them to go easy on debtors who could not make payments. The quake zone is one of the main beneficiaries of a stimulus package announced by the central government in November.
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