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China's new financial measures to help small businesses: Experts

2018/06/28

BEIJING - China's newly-unveiled financial measures to ease credit strain on small- and micro-sized businesses (SMBs) are necessary for their development, experts said.
The country will roll out a series of measures to make financing more accessible and affordable for SMBs to reduce costs in the economy, the State Council decided at an executive meeting chaired by Premier Li Keqiang Wednesday.
The government vowed to raise the relending and rediscount quotas for small companies and lower the relending interest rates for small businesses.
It was the third time for the State Council to discuss lowering of financing costs for small and micro businesses during its weekly executive meeting since March.
The new support package also includes targeted cuts in banks' reserve requirement ratios and other monetary policy tools.
China promised to maintain its prudent and neutral monetary policy and keep liquidity sufficient and appropriate.
Source: Xinhua



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