Small and micro enterprises are.........>

CHINA PRESS: Small and micro enterprises are expected to save nearly CNY1

billion in costs if the average interest rate of borrowing from major commercial

banks is cut by 0.3 percentage point as the State Council proposed, the

Securities Daily said on Tuesday.

- The State Council executive meeting last Friday, deciding to cut the average

interest rate for lending to small companies by one percentage point in the

fourth quarter, compared to that in the first quarter. This will lead to an

actual 0.3 percentage point cut, the newspaper said;

- As of end Q3, the average interest rate of small companies charged by 18 major

commercial banks was 6.23%, about 0.7 percentage points lower than that in the

first quarter, the Daily said, citing data from China Banking and Insurance

Regulatory Commission.

(Link to the story: https://bit.ly/2PWWgkI)