Smaller firms to get ample credit platforms

PBOC hints at interest rate reform and shift to market-based lending rates

The People's Bank of China, the central bank, stressed on Thursday that the government will ensure that small and micro businesses have adequate access to credit.

Speaking at an event in Beijing, Yi Gang, the PBOC governor, said that State-owned commercial banks will be urged to increase lending to small and micro companies by 30 percent this year and the average cost of financing would come down by 1 percentage point.