China’s central bank governor has said that the country will enhance support for small and micro-sized enterprises with better policy coordination.Find the latest china latest financial news, photos, videos and featured stories on Shine News.
SHINE provides trusted national and world news as well as local and regional perspectives. Monetary, fiscal and supervisory policies should be coordinated to raise the willingness of financial institutions to support small companies, said governor Yi Gang in a statement released yesterday by the People’s Bank of China.
The country should treat state-owned companies and private companies equally in financial policies, including lending and bond issuance policies, Yi said at a meeting with commercial banks and companies. "(China) should capitalize on the functions of a socialist market economy, and provide higher quality financial services to private firms and small and micro-sized firms through market competition,” he added.
Meanwhile, the financial system should build a sustainable business model to serve small companies and enhance risk prevention, with an accurate understanding of the facts of a short average life cycle, difficulties in getting loans for the first time, and high-risk premiums, Yi said. Companies at the meeting mentioned problems including difficulties in getting financing and high financing costs.

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