Top economic body mulls bank for SMEs

The government is mulling a bank specializing in lending to small and medium-sized enterprises (SMEs) in an effort to broaden their sources of finance, especially at a time when the monetary policy is being tightened to rein in inflation.

The National Development and Reform Commission (NDRC) will take charge of the planning, according to reports quoting an NDRC official saying so at a recent forum held in Guangzhou.

The official also reportedly called on domestic commercial banks to increase their credit lines to SMEs at a rate close to or equal to that of the national credit expansion.