"In view of the COVID-19 impacts, financial institutions have notably intensified their support for the real economy, especially for micro, small and medium-sized businesses. Their efforts have paid off," Li said, "Unlike previous unforeseen situations, the novel coronavirus has hit smaller businesses directly. The financial and fiscal support has been instrumental in staving off massive business closure and job losses."
The meeting required continued efforts to deliver the financial support policies for lessening corporate burdens.
Liquidity will be kept reasonably sufficient, without resorting to massive stimulus. Instead, the direct, structural monetary policy tools will be better leveraged to make sure the money goes to where it is needed the most and is primarily channeled to the real economy, especially to smaller firms.
The financial support policies will be made more accessible. Small and medium banks will be supported to employ big data in better meeting the needs of businesses, and the transmission mechanisms improved, to benefit as many companies as possible. Reform on the loan prime rate (LPR) will be deepened to guide lending rates further downward.
The re-lending and re-discount quota will be fully utilized to issue concessional-rate loans, develop new credit instruments for micro and small businesses and support the issuance of credit-backed loans. These measures will help boost financing for more micro and small firms at a lower cost this year.
【国内英语资讯:Chinas increased fiscal funds to directly benefit businesses and the people】相关文章:
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