China’s financial regulator is pushing for stronger credit support to private enterprises, with a focus on boosting lending to small and micro businesses, according to a report from state news agency Xinhua.
The National Financial Regulatory Administration (NFRA) outlined plans to prioritize first-time loans, renewals, and credit lines for smaller firms as part of an initiative to ensure stable financial support. The banking and insurance sectors will be guided to refine their financial services to better meet the needs of private enterprises, providing more practical and tailored assistance.
This announcement follows a recent internal meeting where the NFRA discussed strategies from a high-level symposium on the development of private enterprises. The regulator also stressed the importance of leveraging technology to enhance inclusive finance, helping to better address the financial challenges faced by private businesses.
In a final reaffirmation, the NFRA emphasized that all enterprises, regardless of ownership structure, will have equal access to financial markets.
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