Banking regulator aids SMEs

Smaller private companies may get easier access to credit even with the general background of tight monetary policy thanks to the efforts of the China Banking Regulatory Commission (CBRC) to help them in a time of rising costs and tightening credit.

The banking regulator recently urged commercial banks to take steps to help SMEs bridge financial difficulties by making maximum use of the increased quota for the development of small enterprises and make sure lending to those companies rises faster than overall loan growth.

"For the loans to small enterprises, interest rates should be at a level that limits risk but benefits the enterprises' sustainable development," Xinhua News Agency quoted Wang Zhaoxing, vice-chairman of CBRC, as saying.