CHINA Premier Li urges financial sector to better serve real economy

CHINA

Premier Li urges financial sector to better serve real economy

Xinhua

02:53, January 05, 2019

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(Photo: Xinhua)

BEIJING, Jan. 4 (Xinhua) -- Chinese Premier Li Keqiang Friday urged financial institutions to better serve the real economy and take effective measures to address financing barriers facing enterprises.

Keeping employment stable relies on numerous small and micro-sized enterprises, whose development need the support of inclusive financing, a promising and beneficial cause, Li made the remarks during a visit to Bank of China, Industrial and Commercial Bank of China, and China Construction Bank.

Li encouraged state-owned banks to take the lead in offering considerate services to private and small and micro-sized enterprises, establishing inclusive financing brands, and boosting market vitality and the corporate sector's confidence.

After the visit, Li held a meeting at the China Banking and Insurance Regulatory Commission, calling for more policy support for the real economy, private firms, and small and micro-sized enterprises in particular.

Policy support might include tax reduction, across-the-board reserve requirement ratio (RRR) cuts, and targeted RRR cuts.

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