Four departments issue notice: Do a good job in assisting microcredit loans.

Recently, the China Banking and Insurance Regulatory Commission, the Ministry of Finance, the Ministry of Agriculture and Rural Affairs, and the People's Bank of China jointly issued a Notice on the work of assisting small-scale credit. The Notice specifies the policy highlights of supporting small-scale credit, including the supported objects, terms, amounts, interest rates, and subsidies, with the aim of continuing the beneficial experience of financial and fiscal coordination after the transition period and providing exclusive financial support for eligible groups to increase income and become prosperous. Compared to small-scale credit for poverty alleviation, the supported objects of assisting small-scale credit have been adjusted from the poverty-stricken population to the population in rural areas with assistance needs, and the loan amount has been increased from 50,000 to 100,000 yuan. At the same time, the Notice requires banks to improve professional operating mechanisms, increase internal resource allocation, improve credit management processes, enhance risk prevention and control mechanisms, improve the accuracy of loan disbursement, and strengthen post-loan management. The Notice also optimizes the coordination mechanism of support policies from four aspects: regulatory policies, monetary credit policies, fiscal policies, and information sharing and utilization.