The People's Bank of China said on Friday that it will continue to play a multi-channel financing role of bonds, credit and stocks in accordance with the principles of marketization and legalization, and further improve financial services for private and micro enterprises.
At the regular briefing on the new state-run policies, the central bank provided a press release and said that the next step would be to play a leading role in the bond market, make good use of the bond financing support tools of private enterprises, do a good job of credit promotion services through market-oriented means, and stabilize and promote the bond financing of private enterprises.
"When conditions are ripe, commercial banks and insurance companies will be introduced to participate voluntarily in the fund and a risk-sharing mechanism will be established." The central bank says.
At the same time, the central bank will continue to stabilize bank credit support, urge banks to implement the rediscount policy, and increase the monitoring, assessment and inspection of bank loans and interest rates. For businesses that are temporarily in trouble in good operation, banks are not required to blindly borrow or break loans.
Earlier this week, the People's Bank of China announced that it would guide the establishment of private enterprise bond financing support tools to stabilize and promote private enterprise bond financing; at the same time, on the basis of an increase of 150 billion yuan in June in the amount of refinancing and rediscount, they will increase the amount of 150 billion yuan, play a directional regulation, Precise Drip Irrigation function, and support fund. Financial institutions extend credit to small and micro enterprises and private enterprises.
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