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CHINA PRESS: PBOC To Increase Financial Support For SMEs

CHINA PRESS
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The People’s Bank of China will tilt policies toward private and small and medium-sized enterprises, and improve the efficiency of bank-enterprise matching to strengthen financial services, according to a statement on its website. Banks should open up a “green channel” for loan review and approval, and develop loan products that are more in line with the financing needs of tech start-ups and SMEs, expand the scope of collateral as well as accelerate loan signing and release progress, the statement said.

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The People’s Bank of China will tilt policies toward private and small and medium-sized enterprises, and improve the efficiency of bank-enterprise matching to strengthen financial services, according to a statement on its website. Banks should open up a “green channel” for loan review and approval, and develop loan products that are more in line with the financing needs of tech start-ups and SMEs, expand the scope of collateral as well as accelerate loan signing and release progress, the statement said.