Li Yunze: Further introduce a package of policies to support the financing of small and medium-sized enterprises and private enterprises.

Director of the Financial Regulatory Bureau Li Yunze said today at the State Council Information Office press conference that the Bureau will soon work with relevant departments to further introduce a package of policies to support financing for small and micro private enterprises. The focus will be on four areas: First, increasing supply by continuing to deepen and solidify the financing coordination mechanism, conducting in-depth visits to thousands of businesses, increasing initial loans, renewal loans, and credit loans to drive the growth of loans for inclusive small and micro enterprises higher than the average growth rate of all loans. Second, reducing costs by timely transmitting market interest rate dividends and preferential internal fund transfer pricing, while standardizing the collaboration between institutions and third parties to promote stable and decreasing comprehensive financing costs, further reducing the burden on enterprises. Third, improving efficiency by promoting banks to simplify internal processes, improve the efficiency of loan approval, flexibly meet various financing needs, and alleviate the pressure on business fund turnover. Fourth, creating a better environment by strengthening the coordination of monetary, financial, tax, and industrial supervision policies, enhancing credit enhancement in guaranteeing, repairing credit, setting standards, speeding up the improvement of relevant systems, and creating a more favorable development environment.