BEIJING, Dec. 13 -- China will smooth the transmission mechanism of monetary policies and further bring down overall financing costs for small and micro-businesses as part of efforts to address their financing difficulties.
The arrangements were made on Thursday at the State Council's executive meeting chaired by Premier Li Keqiang.
Thanks to multi-pronged efforts, by the end of October, the balance of inclusive loans to small and micro businesses increased by 23.3 percent, nearly 11 percentage points higher than the overall loan growth. Interest rates for these firms came down by 0.64 percentage points.
"Keeping employment stable will be our top priority next year. As stable employment largely hinges on small and micro-sized businesses, we must give them more support," Li said.
Guided by the decisions laid down at the Central Economic Work Conference, the meeting decided to bring down overall financing costs of inclusive loans for small and micro businesses by another 0.5 percentage points next year, and make sure that inclusive loans continue to grow faster than overall loans, and that such loans issued by the five major state-owned commercial banks increase by no less than 20 percent.
"While there is fairly sufficient 'water' in the 'pond', private companies, especially small and micro ones, still find it difficult to access affordable financing. It is imperative to take decisive measures to improve the monetary transmission mechanism and bring down real interest rates," Li said.
The meeting urged efforts to smooth the transmission mechanism and overhaul fees in the financing process. Banks will be supported in increasing medium- and long-term loans to the manufacturing industry, and developing credit loans and services that facilitate the roll-over of outstanding loans.
The credit quota for small and micro businesses with loans that are eligible for preferred risk weight formula will be raised from 5 million yuan (about 713,000 U.S. dollars) to 10 million yuan.
The average rate of government financing guarantee and re-guarantee institutions will be brought down to less than 1 percent.
"More research is needed to make breakthroughs," Li said. "When addressing financial risks of small and medium-sized banks, local governments must take their primary responsibilities. At the same time, such efforts must not block the lending channels for small and micro businesses."
鬼魂存在么 Does Ghost Exist
国内英语资讯:Chinas top legislature schedules bimonthly session
这些简单易做的小事会让你的另一半无比开心
体坛英语资讯:Germanys Jung wins third consecutive Kentucky 3-day Event
能干的苏珊 The Capable Susan
国内英语资讯:China Focus: Key component of worlds longest cross-sea bridge installed
别带着怒气入眠! 小心强化脑中负面记忆!
重大突破!一滴血可测癌症,已被批准临床使用
朋友是什么? What is a Friend?
你的牛仔裤和包包,可能正在摧残你的健康!
国际英语资讯:Putin, Trump agree to coordinate efforts on Korean Peninsula tensions: Kremlin
科学告诉你,败钱真的能买开心
国际英语资讯:Nuclear watchdog says DPRK is making progress with atomic plans
Netflix终于要进中国了,美剧党们嗨起来
丹麦生蚝泛滥成灾 中国吃货:放着让我来
福建省龙海市程溪中学2016-2017学年高二年下学期期中考英语试卷
夏洛特公主满两岁啦!
体坛英语资讯:Californias clean air agency endorses LA 2024s commitment to greenest Games
体坛英语资讯:Ronaldo hat-trick as Real Madrid beat Atletico 3-0 in Champions League semi
国际英语资讯:Spotlight: Huge crowds swarm streets across U.S. to protest Trumps climate policies
河北省石家庄市第一中学2016-2017学年高一上学期期中考试 英语试题 Word版含答案
尼日利亚教堂房顶坍塌,一百多人丧生
每天只做1件烧脑的事,反而会让人感到快乐!
左右开弓:印度学校训练学生双手同时写字
中国科学家琥珀中发现恐龙标本 这事有多牛X?
国内英语资讯:Chinese vice premier calls on artists to seek inspiration from grassroots
国际英语资讯:2/3 of hard left voters refuse to endorse centrist frontrunner Macron in presidencys run-o
体坛英语资讯:Four things we learnt from matchday 35 in Spain
抗议者袭击马其顿议会
教育部发布文件 2020年全国普及高中阶段教育
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |