Latest News:  
Beijing   Cloudy/Sunny    20 / 31   City Forecast

Home>>China Politics

Vice premier urges more financial support for rural development, small businesses


10:32, August 22, 2011

LANZHOU, Aug. 21 (Xinhua) -- Vice Premier Wang Qishan has urged China's lenders to increase financing for rural development and small businesses in order to ease fundraising difficulties amid the global economic uncertainty and the country's monetary tightening.

Wang made the call during a two-day inspection tour in Gansu Province, noting that financial institutions should make renewed efforts to meet the reasonable funding demands from small enterprises and the "three rurals," the rural economy, rural community and rural residents.

Facing the extremely complicated and uncertain global economic situation, the country's finance sector should strive to better handle the relationship between economic development, economic restructuring and checking inflation, continue to carry out the prudent monetary policy and optimize the credit structure, said Wang.

He also urged more efforts to strengthen financial supervision and regulate the financial market to prevent systematic and regional financial risks.

The government has been tightening its monetary policies in order to combat stubbornly high inflation. Capital-thirsty small businesses have been feeling the pinch as funding has declined.

The central bank has required banks to hold more of their deposits in reserve six times and hiked interest rates three times this year to contain inflation, which rose to a 37-month high of 6.5 percent in July.


Leave your comment0 comments

  1. Name


Selections for you

  1. Chinese, U.S. vice presidents visit post-quake restoration project in SW China

  2. Window cleaners clean exterior of Oriental Pearl TV Tower

  3. Xinjiang grapes sold to markets far and wide

  4. Libyan rebels control Tripoli

Most Popular


  1. Trickery in the name of philanthropy
  2. Tripoli under siege, but what comes next ?
  3. Government must meet public demand for openness
  4. 'Special Hong Kong' is wish of Chinese society
  5. People's indifference appalling
  6. Joe Biden's visit more than a courtesy call
  7. China needs caution in drive to up gold reserves
  8. China has right to own aircraft carriers
  9. China, US should boost world's confidence

What's happening in China

Wuhan reaches for sky with towering plan

  1. China police probe missing purchased
    Vietnamese wives
  2. China orders "high-handed crackdown" on
    crimes involving minors
  3. Centrally-administered SOEs urged to promote economic development in Xinjiang

PD Online Data

  1. The Li ethnic minority
  2. The Jingpo ethnic minority
  3. The Gelo ethnic minority
  4. The Drung ethnic minority
  5. The Dong ethnic minority