China says it will step up financing support for small firms By Reuters
© Reuters. FILE PHOTO: A woman works in a small-sized factory producing clothes and hats, in which more than half of its production line has stopped its operation because of a downturn in its business at the Qingyundian industrial zone in Beijing, China, October 19,
BEIJING (Reuters) – China will step up financing support for small firms by increasing annual relending quotas by 300 billion yuan ($46.39 billion), state media quoted the cabinet as saying on Wednesday.
The central bank will provide more support via rediscount instruments to help ease financing burdens of small firms, state media said.
The government will strengthen its policy reserves and improve cross-cyclical adjustments, state media said, adding that local government special bonds will help drive effective investment.
($1 = 6.4665 renminbi)
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