Give more loans to small firms, banks told

The central bank yesterday urged the country's banks to raise the amount of loans for small enterprises, which conforms to a recent central government call to give special support to firms hurt by the slowing economic growth.

The country's GDP growth fell to 9 percent in the third quarter of this year from 11.9 percent for the whole of 2007.

"Encouraging banks to provide stronger credit support for small- and medium-sized firms will promote their growth and maintain stable and fast growth for the overall economy," the People's Bank of China said. It vowed to tap new ways to encourage lending in rural areas.