China Should Better Develop Capital Market: Advisor

China should vigorously develop the capital market and increase the proportion of direct financing, as well as promote the innovation of bank and digital finance, so to better support the steady growth of the economy next year, wrote Huang Yiping, former member of PBOC’s Monetary Policy Committee in an article published on Yicai.com. China should better support innovative SMEs to promote sustainable growth, while the credit risk assessment based on financial data and mortgage assets are unfavorable to SMEs, said Huang, urging for more support to SMEs while using digital technology and big data to assess credit risks.