Bank of China to improve credit structure for risk control

07:56, December 08, 2009      

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Bank of China, the nation's third largest lender, said on Monday it would beef up efforts to optimize credit structure to avoid systemic risk and realize sustainable development.

Credit structure should help promote economic restructuring and development pattern transformation, the bank said in a statement posted on its website.

The move was in response to the directives of the annual Central Economic Work Conference, which was concluded Monday agreeing to advance economic structure adjustment to lift the quality and efficiency of economic growth.

The bank said it would continue to extend financial support to key state projects, small businesses, low-income housing projects, major technological research and energy-saving programs.

Projects with obsolete capacity, and those that fail to meet the emission cut standards should be devoid of money, said the statement.

Source: Xinhua
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