BEIJING, Nov. 9 -- China will make more targeted efforts to boost the financial sector's support for the real economy and tackle financing difficulties for small and micro businesses, the State Council's meeting chaired by Premier Li Keqiang decided on Friday.
The meeting heard a report on delivery of the policies regarding accessible and affordable financing for micro and small businesses.
The Chinese government places high importance on the financial services targeting micro and small businesses. Premier Li Keqiang underlined the importance to smooth the policy transmission channels with targeted measures and encourage financial institutions to raise the share of loans to micro and small companies and cut their financing cost.
The People's Bank of China, China's central bank, has cut the required reserve ratio for commercial banks four times this year, releasing a total liquidity of 2.3 trillion yuan. By the end of September, outstanding loans for micro and small firms totaled over 33 trillion yuan, up by 11.4 percent year on year.
"Government departments are encouraged to take multi-pronged approach, and we must waste no time in helping small firms tackle their liquidity difficulties," Li said, "No loans extended should be willfully withdrawn."
It was pointed out at the Friday meeting that greater efforts will be made to enhance financial services for the private sector, especially micro and small firms.
The financing channels will be widened. The scope of qualified collaterals of the Medium-term Lending Facility will be expanded to cover loans for micro and small firms with a credit quota of up to 10 million yuan per company. Support will be given to more such firms for equity and bond financing.
Financial institutions will be encouraged to make their lending businesses to micro and small firms part of the internal performance evaluation, and allocate corresponding incentive rewards.
The meeting urged on hitting the target of lower lending rate for micro and small firms. Major commercial banks were called upon to work hard to cut their average lending rate by one percentage point in the fourth quarter comparing with the first quarter, and the unnecessary procedures and surcharges in financing will be removed. The meeting also called for effective measures to prevent credit risks.
Financial institutions will be encouraged to take substantive measures in the time to come to further tilt policies in favor of micro and small firms as well as other private companies, Li said.
The government must also provide support in terms of guarantee and taxation, he added.
The meeting also discussed how to better leverage the government-managed guarantee funds to make more financial resources available to micro and small companies. It was decided at the meeting that supporting agricultural and rural development as well as small companies shall be the primary business of all government-managed guarantee and re-guarantee institutions, with a priority given to those micro and small firms as well as entities engaged in agricultural and rural development with a guarantee volume of up to five million yuan per entity.
Financing costs will be lowered. The State Financing Guaranty Fund shall not set its guarantee fee rate higher than that of the provincial institutions. Risks should be shared, with both the State Financing Guaranty Fund and financial institutions shouldering no less than 20 percent of risks in principle.
体坛英语资讯:Coutinho outshines Neymar to win Samba dOr
体坛英语资讯:Will the top seed be crowned again at Shenzhen Open
2014届高考英语一轮复习 Unit1《Friendship》单项填空全方位训练2 新人教版必修1
山东省德州市2014届高考英语一轮复习 语法限时训练2
山东省德州市2014届高考英语一轮复习 完形填空加强训练22
体坛英语资讯:2016, a year of glory and tragedy for Brazilian football
国内英语资讯:Xi congratulates Doris Leuthard on taking office as Swiss president
国际英语资讯:Britain to launch new pound coin to deter counterfeiters
2014届高考英语一轮复习 Unit1《Friendship》句式与语法全方位训练 新人教版必修1
中国设计师改造运动鞋变防霾口罩:这个厉害了
江苏省2014届高三英语一轮复习 阅读理解攻略训练(3)
神马?今年春节将不会再有微信“摇一摇”抢红包!
日本的五大奇葩礼仪TOP5:每一条都让老外懵逼
体坛英语资讯:Seeded players start well in WTA Shenzhen Open
体坛英语资讯:Nadal wins Mubadala Tennis Championships 2016 in Abu Dhabi
娱乐英语资讯:Chinas movie industry grows in 2016
山东省德州市2014届高考英语一轮复习 语法限时训练1
山东省德州市2014届高考英语一轮复习 完形填空加强训练44
建议:工作一小时,运动五分钟
江苏省2014届高三英语一轮复习 阅读理解攻略训练(23)
4招拍出美翻的食物照片!做个高端吃货!
山东省德州市2014届高考英语一轮复习 语法限时训练3
山东省德州市2014届高考英语一轮复习 完形填空加强训练47
2014届高考英语一轮复习 Unit1《Friendship》阅读理解全方位训练1 新人教版必修1
国内英语资讯:Vice Premier stresses accuracy, authenticity in agricultural census
2014届高考英语一轮复习 Unit1《Friendship》句式与语法全方位训练2 新人教版必修1
在狗狗眼里,人类是不老的神?
英语美文:把时间看做投资,生活就不一样了
2014届高考英语一轮复习 Unit1《Friendship》词汇与短语全方位训练 新人教版必修1
这6个迹象说明你正在毒害自己的爱情!
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |