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PBOC Pledges More Financial Support For Private Companies

CHINA PRESS
MNI (Singapore)

Chinese authorities have ordered banking institutions to increase gradually the proportion of loans to private companies and set annual targets to raise services offered to private enterprises in their performance appraisals, according to a list of 25 measures released by the People’s Bank of China and seven other departments on Monday aimed at improving private enterprise. Companies in technological innovation, green and low-carbon areas would benefit most, and banks should reasonably increase the tolerance of non-performing loans of private companies by establishing exemption mechanisms, the document said. (Source: PBOC Website)

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