BUSINESS China to further cut financing interest rates for small, micro firms

BUSINESS

China to further cut financing interest rates for small, micro firms

Xinhua

00:57, June 27, 2019

production.JPG

Photo taken on Dec. 11, 2018 shows the photovoltaic module production line of a company in De'an, east China's Jiangxi province. (Photo: Xinhua)

BEIJING, June 26 (Xinhua) -- China's cabinet decided Wednesday to further reduce the real financing interest rates for small and micro firms.

China will stick to a prudent monetary policy which will be eased or tightened to the right degree, while maintaining reasonably sufficient liquidity to ensure that the loan's real interest rates for small and micro firms will be lowered, according to a statement released after an executive meeting of the State Council chaired by Premier Li Keqiang.

The market quotation interest rate mechanism for commercial banks' loans will be improved, while medium, small and micro firms will enjoy more support in financing by bonds and other means.

Some cities will be encouraged to conduct a three-year-long reform pilot in improving financial services for private, small and micro firms, according to the statement.


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue