Small companies to enjoy better loan service

China Banking Regulatory Commission will circulate its instructions to commercial banks on loan grants to small businesses "as soon as possible". It also requires banks to prepare for the service. A pilot project will be launched within the year for the loan business to small companies.

The service will be launched as a commercial move. Commercial banks are urged to initiate innovation and make pricing strategies on their own.

At the beginning of the year, the banking watchdog pledged to provide easier financial access for small businesses this year. A team has thus been set up for this purpose. In March, a visit was made by a CBRC delegation to European Bank for Reconstruction and Development whose experience on loan service to small enterprises are referable.

On May 13, CBRC held a meeting together with development banks and commercial banks.

By People's Daily Online