国内英语资讯:Economic Watch: Chinas banking industry seeks to shield real economy from epidemic shock_时事

国内英语资讯:Economic Watch: Chinas banking industry seeks to shield real economy from epidemic shock

"Monetary and financial policies have played an important role in the country's positive economic growth in the second quarter," Guo said.

Other preferential policies to relieve firms' strains include cutting interest rates on loans and deferring the repayment of capital and interest. In the first seven months of this year, these measures saved businesses more than 870 billion yuan.

In the second half of the year, inclusive service for small and micro firms will be given priority, while efforts will also be made to advance the development of the capital market and direct financing, said Guo.

As China introduces a raft of measures to reform the capital market, the proportion of direct financing is expected to rise to 25 percent in aggregate financing to the real economy in the future, which will in turn provide the banking sector with more business opportunities and new growth drivers of integrated financial operations, said a recent report by the People's Bank of China.

Noting that China's financial industry has been operating steadily with generally controllable risks, Guo said that attention should be paid to some potential risks including mounting non-performing assets.

Such cautiousness has been echoed by international institutions such as the International Monetary Fund, which, in its recent issue of World Economic Outlook, also urged policymakers to keep an eye on financial fragility and maintain the system's stability while continuing to support the real economy.