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China's PSBC, Kingdee Credit strengthen co-op to better serve MSEs
Postal Savings Bank of China (PSBC), one of China's major lenders, has recently signed a strategic cooperation agreement with Kingdee Credit to better serve China's micro and small enterprises (MSEs), reported by China News on Tuesday.
China National Financing Guarantee Fund to offer RMB10 bln credit line to support MSEs in Hubei
China National Financing Guarantee Fund has recently reached an agreement with Hubei Re-Guarantee Group in volume re-guaranttee business, offering annual credit line of 10 billion yuan to ease the difficulty of financing for micro and small-sized enterprises and other entities in Hubei, reported by Hubei Daily on Thursday.
China implements RRR cuts for small, medium-sized banks
China started to apply a low reserve requirement ratio (RRR) for some small and medium-sized banks from Wednesday, according to the central bank.
New measures to ensure meaningful reduction in MSEs' financing costs
China will work to further reduce financing cost of micro and small enterprises (MSEs), with an aim to increase outstanding loans offered by five large state-owned commercial banks to MSEs by more than 30 percent this year comparing with 2018.
Larger scale tax cuts to be introduced for small, micro businesses
China will unveil larger scale tax cuts and tax exemptions for micro and small enterprises (MSEs), a State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.
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