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Official backs credit evaluation, growth-enterprise board

By Xu Shenglan (chinadaily.com.cn)
Updated: 2008-09-02 15:38

China will promote financial institutions' credit evaluation, issue policies to encourage and regulate the development of private offered fund, and accelerate launching an enterprises board, central bank vice governor Liu Shiyu announced on a recent financial forum.

The country will enhance guidance and evaluation for credit performance of the banking industry, according to Liu Shiyu, and the evaluation work will not only include financial institutions' loan volumes but also their credit performance. It is estimated that the first evaluation result will be released at the end of the year, excluding rural credit cooperatives. 

Moreover, deposit insurance systems will be accelerated to handle financial risks, which will help small financial institutions, said Liu Shiyu. 

Additionally, policies will be issued to encourage and regulate the development of private offered funds, and the growth enterprise board will be promoted to support the development of small- and medium-sized enterprises.