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China Outlines Plans to Further Boost SME Finance Access

The China Financial Stability and Development Committee has outlined four measures designed to help small and medium-sized enterprises (SMES) secure affordable financing:

  • With a view to upgrading the overall monetary transmission mechanism, the Committee has called for a range of monetary and credit policy tools to be actioned in order to establish differentiated regulatory arrangements and improve the assessment and evaluation mechanisms required to duly incentivise small and medium-sized financial institutions to accommodate the financial needs of target businesses
  • The Committee also highlighted the need to deepen supply-side structural reform within the financial sector, with a view to nurturing a system that is dynamic, competitive and inclusive
  • It also recommended that the capital of small and medium-sized banks be replenished through a variety of channels in order to enhance their capacity to supply credit to SMEs
  • The importance of refining the government-backed finance guarantee system, accelerating the establishment of an enterprise credit information platform and broadening the direct financing channels for viable SMEs was also noted

The body, which reports directly to State Council, issued its recommendations following its 7 January meeting.

Source: State Council

Content provided by Picture: HKTDC Research
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