The financing channels will be widened. The scope of qualified collaterals of the Medium-term Lending Facility will be expanded to cover loans for micro and small firms with a credit quota of up to 10 million yuan per company. Support will be given to more such firms for equity and bond financing.
Financial institutions will be encouraged to make their lending businesses to micro and small firms part of the internal performance evaluation, and allocate corresponding incentive rewards.
The meeting urged on hitting the target of lower lending rate for micro and small firms. Major commercial banks were called upon to work hard to cut their average lending rate by one percentage point in the fourth quarter comparing with the first quarter, and the unnecessary procedures and surcharges in financing will be removed. The meeting also called for effective measures to prevent credit risks.
Financial institutions will be encouraged to take substantive measures in the time to come to further tilt policies in favor of micro and small firms as well as other private companies, Li said.
The government must also provide support in terms of guarantee and taxation, he added.
The meeting also discussed how to better leverage the government-managed guarantee funds to make more financial resources available to micro and small companies. It was decided at the meeting that supporting agricultural and rural development as well as small companies shall be the primary business of all government-managed guarantee and re-guarantee institutions, with a priority given to those micro and small firms as well as entities engaged in agricultural and rural development with a guarantee volume of up to five million yuan per entity.
【国内英语资讯:Multi-pronged measures to help ease financing woes of small firms】相关文章:
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2020-09-15
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