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China's central bank has called upon banking financial institutions
to enhance their capabilities of providing financial services to micro,
small, and medium-sized enterprises to better support the country's real
economy. Efforts should be made to increase the credit supply to micro, small
and medium-sized enterprises, optimize credit products and services to
individual businesses, and expand service coverage in inclusive
financing, according to a circular released by the People's Bank of
China (PBOC). Banking financial institutions should also develop and continue
fine-tuning loan products so as to facilitate the use of funds and
reduce the overall financing costs for those enterprises, read the
circular. The PBOC also stressed that all banking financial institutions should
enhance their loan pricing capabilities by providing differentiated and
precise loans. Enditem
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