Central Bank Offers More Financial Backing to Small Enterprises
* The policy moves reflect concerns that liquidity tightening is weighing on business
* These measures are expected to provide credit of more than 100 billion yuan
China’s central bank issued guidelines Monday with measures to encourage lending to small and micro businesses in the government’s latest move to expand financial support for small enterprises.
The measures followed the central bank’s decision Sunday to cut some banks' reserve requirement ratios on July 5 to support qualified debt-for-equity swap programs and help small business financing. The State Council outlined a series of policies last week to improve credit availability to small companies.
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