Financing channels will be expanded

The government will expand financing channels and introduce several pilot programs to boost the economy of its northeastern region to dispel fears of diminishing returns and a worsening business environment in the region, according to an official from the country's top economic regulator.

Zhou Jianping, head of the National Development and Reform Commission's department responsible for the rejuvenation in the northeastern region, said the government is also considering preferential policies to boost economic confidence in the region.

It will also come out with pilot programs, including lower assessment criteria for the private banks in the region and a broader collateral base for debt-laden companies to cope with challenges, according to an official with the commission who declined to be named.