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Top Policymakers Urge More Lending to Small Businesses

Growth in China’s total social financing slowed to a record low of 9.8% in June. Photo: VCG
Growth in China’s total social financing slowed to a record low of 9.8% in June. Photo: VCG

China’s top financial supervisory agency under the State Council met twice over the past month discussing ways to free up credit in support of the real economy, Caixin has learned.

Policymakers are concerned that measures intended to encourage lending to micro and small businesses haven’t succeeded in “unclogging” the transmission mechanism of monetary policy.

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