Cabi­net high­lights credit sup­port for small firms

China Daily (Hong Kong) - - BUSINESS DIGEST -

China’s cabi­net on Mon­day un­veiled de­tails of fi­nan­cial sup­port for the cash­strapped small busi­nesses that play a key role in growth and em­ploy­ment. Credit growth to small en­ter­prises should not be lower than to­tal credit growth. The in­cre­men­tal amount should not be less than that recorded a year ear­lier, read a state­ment from the State Coun­cil. Vil­lage banks, credit com­pa­nies and other small fi­nan­cial in­sti­tu­tions are en­cour­aged to set up branches in ar­eas where small busi­nesses are con­cen­trated. Pri­vate banks, fi­nan­cial leas­ing com­pa­nies and other fi­nan­cial com­pa­nies are also en­cour­aged to set up in those ar­eas.

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