China Vows More Loan Support for Businesses to Spur Growth

(Bloomberg) — China has pledged to boost credit to private companies and extend other funding measures to small firms as policymakers seek ways to shore up confidence and support the recovery.

The nation will expand a bond credit enhancement tool that is backed by financial institutions to all qualified private companies, the National Development and Reform Commission (NDRC) said in a notice posted Tuesday on its website. In the past the policy has mainly been used to help cash-strapped property developers raise funds from the bond market.