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China's bank watchdog to promote small business

(People's Daily)

16:40, October 25, 2011

Edited and translated by Yao Chun, People's Daily Online

Now that regional and systematic risks have been effectively controlled, the China Banking Regulatory Commission will take various measures to guide and promote the role of banks in supporting the national economy’s sound and fast development, said the vice president of the China Banking Regulatory Commission.

The commission will further enhance the policy support and loans to small businesses as well as loosen access restrictions on commercial banks whose customer amounts and balance of loans to small businesses have surpassed a certain percentage.

The commission will permit banks to establish local branches and franchised agencies and give priority in supporting commercial banks to issue financial bond for small businesses. The commission also permits commercial banks to exclude the financial bonds of less than 5 million yuan bought by small businesses from loan-to-deposit ratio appraisal.

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