国内英语资讯:China to deepen market-oriented interest rate reform, lower interest rate for smaller firms_时事

国内英语资讯:China to deepen market-oriented interest rate reform, lower interest rate for smaller firms

To support innovation-driven development, intensify the protection and use of intellectual property rights, and promote employment, the meeting also called for expanding the use of intellectual property pledge financing to widen financing channels for private, micro, small, start-up and innovation businesses and ease their financing difficulties.

Banks will be guided to formulate separate lending plans and evaluation mechanisms for intellectual property pledge loans. The non-performing loan (NPL) ratio of such lending that is no more than 3 percentage points above the overall NPL ratio will not be considered a minus factor in government oversight or performance evaluation.

Packaged intellectual property pledge will be explored and the scope of collaterals and means of disposal will be expanded.

"We must step up the building of an intellectual property information platform. Intellectual property pledge financing may seem a minor business for financial institutions, yet in practice, it is of vital importance as it boosts entrepreneurship and innovation, and helps with the protection of intellectual property rights," Li said.

The meeting required improvement of the loan mix and guide more credit issuance for the manufacturing and service sectors.

Large banks will be encouraged to refine lending evaluation mechanism and provide targeted rewards to ensure that the balance of total loans, medium and long-term loans and credit loans for the manufacturing sector this year will be notably higher than last year.