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.
A NATO delegation was received by Azerbaijan's President Ilham Aliyev in the country's capital on Thursday (6 November) as well as with the deputy per...
Afghanistan and Pakistan will resume peace talks in Istanbul on Thursday, both nations said, after a previous round ended without agreeing a lasting t...
France's Louvre Museum began a security audit a decade ago but the recommended upgrades will not be completed until 2032, the state auditor said in a ...
Lebanon's Hezbollah said on Thursday that it had "a legitimate right to resist (Israeli) occupation", adding that it would support the Lebanese army....
The driver who rammed his car into a crowd in western France on Wednesday is suspected of "self-radicalisation" and had "explicit religious references...
A NATO delegation was received by Azerbaijan's President Ilham Aliyev in the country's capital on Thursday (6 November) as well as with the deputy permanent representatives of the U.S. and France to the security alliance organisation, with talks focusing on global and regional issues.
France's Louvre Museum began a security audit a decade ago but the recommended upgrades will not be completed until 2032, the state auditor said in a report on Thursday compiled before a spectacular heist there last month.
Lebanon's Hezbollah said on Thursday that it had "a legitimate right to resist (Israeli) occupation", adding that it would support the Lebanese army.
The driver who rammed his car into a crowd in western France on Wednesday is suspected of "self-radicalisation" and had "explicit religious references" at home, the country's Interior Minister Laurent Nunez said on Thursday.
The Champions League match between Qarabağ FK and Chelsea ended 2–2 at the Tofig Bahramov Republican Stadium in Baku, Azerbaijan on Wednesday (5 November).
Brussels airport, Belgium's busiest, reopened on Wednesday morning after drone sightings during the previous night had resulted in it being temporarily closed, although some flights remained disrupted, its website said.
A French court has postponed the trial of a suspect linked to the Louvre jewellery heist in a separate case, citing heavy media scrutiny and concerns about the fairness of the proceedings.
Russia remains in constant contact with Venezuela over tensions in the Caribbean, Kremlin spokesman Dmitry Peskov was quoted as saying on Tuesday.
U.S. federal investigators have recovered the flight recorders from the wreckage of a UPS cargo plane that crashed and erupted in flames during takeoff in Louisville, Kentucky, killing at least 12 people and halting airport operations.
Afghanistan and Pakistan will resume peace talks in Istanbul on Thursday, both nations said, after a previous round ended without agreeing a lasting truce.
U.S. Secretary of State Marco Rubio announced plans to visit all five Central Asian countries next year, as President Donald Trump prepares to host their leaders in Washington for talks focused on energy and mineral cooperation.
Kaja Kallas says Türkiye's ties with the European Union are vital for the bloc, despite ongoing membership talks.
The Azerbaijan University of Languages (AUL) hosted the screening of a documentary by AnewZ dedicated to the Belt and Road Initiative and the rising importance of the Middle Corridor in the global economy.
As part of his official visit to the People’s Democratic Republic of Algeria, Azerbaijan’s Minister of Foreign Affairs Jeyhun Bayramov held separate meetings with President Abdelmadjid Tebboune and President of the National People’s Assembly Ibrahim Boughali.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment