China's central bank steps up support for SMBs
China's central bank has introduced a series of measures aimed at helping small and medium-sized enterprises (SMEs) weather external uncertainties and stabilize their operations.
"The moderately loose monetary policy adopted by the People's Bank of China (PBOC) 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 Research Institute at the PBOC, at the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.
Ding said the PBOC has taken steps to bolster the smaller businesses by providing stronger credit support and easing their interest burdens.