People's Bank of China: The support for credit to small and medium-sized enterprises has significantly increased.

Ding Zhijie, director of the Institute of Finance of the People's Bank of China, stated in the large-scale media interview program "China Economic Roundtable" that under the support of financial policies, the scale of funds from financial institutions to the real economy continues to expand, and the level of credit support for small and medium-sized enterprises has significantly increased. Ding Zhijie introduced that recently, the People's Bank of China reduced the reserve requirement ratio by 0.5 percentage points, while lowering the policy interest rate by 0.1 percentage points and overall lowering the interest rate on structural monetary policy tools by 0.25 percentage points. These policies help expand the scale of funds from financial institutions to the real economy, reduce the cost of business financing, and improve the stability of production and operation. "From the data that has been released, currently, market liquidity is sufficient, and monetary credit is growing reasonably, with a significant increase in credit support for small and medium-sized enterprises," Ding Zhijie said. At the end of April, the balance of inclusive small and micro loans reached 34.3 trillion yuan, an increase of 11.9% year-on-year, higher than the growth rates of various loans during the same period. Among them, the support for innovative and small and medium-sized enterprises is particularly evident.