China will step up its policy of targeted cuts to banks' required reserve r...
FILE PHOTO: Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, in this March 30, 2016 file picture. REUTERS/Kim Kyung-Hoon/File Photo
Beijing has been urging banks to continue lending to struggling businesses, especially smaller private concerns that account for more than half the country’s economic growth and most of its jobs. Financing channels for SMEs will be further expanded to help lower their funding costs via preferential monetary policies and easier access to capital markets, the document said.
In addition, bank loans to SMEs with credit lines of 10 million yuan or less will be eligible for use as collateral against the central bank’s medium-term lending facilities.
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