China’s central bank has announced a new set of measures to strengthen financial support for small and medium-sized enterprises (SMEs), aiming to help them navigate external uncertainties and maintain stable operations, according to a senior official at the People’s Bank of China (PBOC).
“The moderately loose monetary policy adopted by the People’s Bank of China helps expand funding available to the real economy, lower financing costs for businesses, especially the SMEs, and enhance their operational stability,” said Ding Zhijie, head of the PBOC’s Research Institute, during the latest episode of China Economic Roundtable, a talk show hosted by Xinhua News Agency.
Ding highlighted that the PBOC has intensified its credit support to smaller firms and taken steps to ease their interest burdens. By the end of April, inclusive loans issued to micro and small enterprises reached 34.3 trillion yuan (approximately 4.77 trillion U.S. dollars), marking an 11.9 percent year-on-year increase—outpacing the overall loan growth.
Financing costs have also declined, with the average interest rate on newly issued corporate loans falling to 3.2 percent in April, 50 basis points lower than the same period last year.
In a further move to boost credit access, the central bank has added 300 billion yuan to its relending quota to support the agricultural sector and small businesses.
Ding also underscored the importance of the entrepreneurship guarantee loan, a policy tool introduced in 2016 to foster job creation and innovation. He noted that the central bank will continue to urge banks across the country to implement the policy more effectively to expand financial support and help stabilize employment.
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British Finance Minister Rachel Reeves is preparing to unveil a high-stakes, multi-year public spending review on June 11 that will allocate over £2 trillion ($2.7 trillion) and shape the Labour government’s ambitions through the rest of its term.
China's Foreign Minister Wang Yi recently held a significant phone call with his French counterpart, Jean-Noël Barrot, during which China conveyed strong positions on the Taiwan issue and NATO's role in the Asia-Pacific, alongside broader discussions on trade and bilateral relations
OpenAI is challenging a court order that requires it to indefinitely preserve ChatGPT output data in an ongoing copyright lawsuit filed by The New York Times, arguing that the mandate risks violating user privacy.
Armenian Prime Minister Nikol Pashinyan extended greeting to the Republic of Azerbaijan and its people on the occasion of Eid al-Adha, in a message posted on X (formerly Twitter).
Bangladesh's national elections will be held in the first half of April 2026, the country's de facto prime minister, Muhammad Yunus, said on Friday.
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OpenAI is challenging a court order that requires it to indefinitely preserve ChatGPT output data in an ongoing copyright lawsuit filed by The New York Times, arguing that the mandate risks violating user privacy.
Armenian Prime Minister Nikol Pashinyan extended greeting to the Republic of Azerbaijan and its people on the occasion of Eid al-Adha, in a message posted on X (formerly Twitter).
British Finance Minister Rachel Reeves is preparing to unveil a high-stakes, multi-year public spending review on June 11 that will allocate over £2 trillion ($2.7 trillion) and shape the Labour government’s ambitions through the rest of its term.
China's Foreign Minister Wang Yi recently held a significant phone call with his French counterpart, Jean-Noël Barrot, during which China conveyed strong positions on the Taiwan issue and NATO's role in the Asia-Pacific, alongside broader discussions on trade and bilateral relations
OpenAI is challenging a court order that requires it to indefinitely preserve ChatGPT output data in an ongoing copyright lawsuit filed by The New York Times, arguing that the mandate risks violating user privacy.
Armenian Prime Minister Nikol Pashinyan extended greeting to the Republic of Azerbaijan and its people on the occasion of Eid al-Adha, in a message posted on X (formerly Twitter).
Bangladesh's national elections will be held in the first half of April 2026, the country's de facto prime minister, Muhammad Yunus, said on Friday.
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