MNI BRIEF: China Banks To Boost Credit Demand-CBIRC
Chinese lenders will enhance support to boost consumption and investment at a targeted pace while the economy faces headwinds, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC) said on Wednesday in a briefing to reporters
Support will be targeted to small and medium-sized companies, rural revitalisation, technology and green growth and include migrant workers, noted Guo, also party chief of the People’s Bank of China (PBOC), see: MNI BRIEF: China's Total Social Financing To Grow Faster In 2022.
Bubbles and financial risks in property sector have been tackled and the resilience of financial system to counter external shocks have improved, he said. Financial regulators will strengthen efforts of antitrust and anti-unjustified competition, the chairman said, noting all financial services provided by internet platforms have been under regulations.