The capital funds of small and medium banks will be replenished as appropriate. Banks are urged to improve their internal evaluation and incentive mechanisms, and raise the weight of inclusive finance in the performance evaluation.
Non-performing loans will be dealt with more effectively. No unwarranted extra conditions should be imposed in loan extension. Meaningful progress must be achieved to make lending more accessible and affordable for market entities.
"More measures should be taken to facilitate the execution of macro policies. The monetary policy tools that can directly benefit businesses must be fully utilized, and related mechanism established to prevent funds from flowing into unintended areas, or simply circulating in the financial system, and avert financial risks," Li said. "The internal incentive mechanisms within banks should be stepped up, otherwise, they are still reluctant to lend to small firms."
The Wednesday meeting required full delivery of all fee-cutting steps introduced this year. The policy of reducing electricity prices for general industrial and commercial businesses by 5 percent, and reducing or canceling civil aviation development fund contributions and port development fees will be extended to the end of this year. The rates for broadband and dedicated internet access services will be cut by 15 percent on average. Together with the fee cuts made in the first half of this year, these measures will save enterprises over 310 billion yuan (about 43.7 billion U.S. dollars) for the whole year.
【国内英语资讯:China to encourage financial institutions to make interest concessions and expedite fee cuts】相关文章:
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2020-09-15
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