Banks increasing lending to SMEs

The country's micro, small and medium-sized enterprises are benefiting from timely support as banks have adopted measures to increase lending to smaller businesses.

In a move to boost the private sector, the government is working to facilitate private companies' bond issuance, through the central bank extending liquidity support to professional institutions.

The central bank announced recently that it will increase its quotas for relending and offering rediscounts to financial institutions by 150 billion yuan ($21.53 billion), to ensure targeted loans can be channeled to private firms. The move follows an expansion of the same amount in June.