Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Policy

China to further boost financing for small businesses

June 02, 2020


Abstract : China will take further steps to expand the scale and improve the structure of financing for micro, small and medium-sized firms, according to an official guideline released Monday.

BEIJING, June 2 (Xinhua) -- China will take further steps to expand the scale and improve the structure of financing for micro, small and medium-sized firms, according to an official guideline released Monday.

Banks operating nationwide are urged to offer reasonable price concessions to widen credit coverage and reduce comprehensive financing costs for small businesses, said a guideline jointly issued by authorities including the central bank.

The five major state-owned commercial banks should expand their inclusive lending to micro and small firms by more than 40 percent, while development and policy banks should make full use of the 350-billion-yuan (about 49 billion U.S. dollars) special credit line to support the resumption of work and production for small firms with preferential interest rates.

The guideline encouraged commercial banks to substantially increase loans to smaller firms and extend their loans without requiring the repayment of due principal.

Tolerance of non-performing loans to micro and small firms will be further relaxed and government financing guarantee will be enhanced.

The guideline also stressed the role of the capital market in financing for smaller firms. Enditem

Scan the QR code and push it to your mobile phone

Keyword: small businesses

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial