China’s banking regulator issued new guidelines on Wednesday designed to encourage banks to increase loans to small businesses, as Beijing seeks to remedy financing bottlenecks in order to promote growth amid an economic slowdown.
Economists have blamed a scarcity of financing for small, privately owned businesses for a recent slowdown in economic growth. Such groups have suffered disproportionately from a campaign to curb financial risk, which sharply reduced off-balance-sheet lending on which private groups relied.
But banks have been wary of lending to smaller companies because default rates are higher on average.
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