More credit lines for small businesses, says CBRC

China's banking regulator said yesterday it would open up more credit avenues for small enterprises this year, despite the recent government clampdown on excessive lending.

"Commercial lenders should ensure that the amount of new loans they advance to small enterprises this year exceeds that of last year and the pace of such loan growth in 2010 must be faster than the average level of credit growth in the previous year," said Xiao Yuanqi, director general of banking supervision department II, China Banking Regulatory Commission (CBRC).

"This is a mandatory requirement and lenders could face market access restrictions or differentiated supervision if they fail to adhere to it," Xiao said.