Policy package to boost credit for small enterprises

China's financial regulators have made out a schedule to implement credit support for small and micro-sized enterprises, aiming to channel funds into the real economy and strengthen growth momentum.

A comprehensive policy package that debuted this week, including monetary policy, fiscal stimulation, and financial regulations, was seen as the strongest measure to channel funds to the small and micro-sized business sector, which contributes nearly 60 percent of the country's GDP and 80 percent of the jobs.

The key objective of the policy package is to increase bank lending while reducing the lending rates to small and micro-sized enterprises, accompanied by tax incentives, the People' Bank of China Governor Yi Gang said in a teleconference on Friday.