Minister urges swap of data between banks and businesses

Miao Wei, minister of industry and information technology, is encouraging the creation of coordination mechanisms to help industrial enterprises and financial institutions exchange financing information.

Working with the People's Bank of China and the China Banking Regulatory Commission, the minister said the aim is to help stabilize industrial growth by providing companies with stronger financial support.

"Relevant government departments and banking regulators at the local levels should make a list of their financing needed for major projects and major companies in their regions," he said.