Chinese ministries, regulators and the central bank on Tuesday pledged more financing support to small businesses, suggesting an urgency among policymakers to revive the private sector amid a flagging economic recovery.
China will encourage financial institutions to offer targeted and diversified financial support to some small and medium-sized enterprises in the manufacturing sector, according to a joint statement by the industry and finance ministries, financial and securities regulators and the central bank.
Small and medium-sized enterprises in key industrial sectors will also be offered appropriate products for foreign exchange hedging, the statement said. Earlier on Tuesday, China's top economic planner announced an extension of loan support tools for small businesses until the end of 2024, vowing to expand credit for private firms and meet their demand for land.
The flurry of initiatives to help to private businesses comes after authorities vowed to make the sector "The private sector accounts for 60% of China's gross domestic product and 80% of urban jobs.economy still strugglePrivate fixed-asset investment shrank 0.2% year-on-year in the first half of 2023, in contrast to an 8.1% rise in investment by state entities, highlighting weak private sector confidence.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Country Garden shares drop 5% after reports it scrapped $300 million share saleChinese property stocks slid Tuesday, after Country Garden scrapped its $300 million primary share placement.
Leer más »
Yum China stock falls as fast-food chain in China reports lower salesShares of Yum China Holdings Inc. dropped more than 3% in the extended session Monday after the operator of KFC, Pizza Hut and other fast-food brands in...
Leer más »
A massive $1.05 billion Mega Millions jackpot is up for grabs in Tuesday's drawing | CNNOne lucky winner could nab a massive $1.05 billion Mega Millions jackpot that’s up for grabs in Tuesday night’s drawing.
Leer más »
A massive $1.05 billion Mega Millions jackpot is up for grabs in Tuesday’s drawing4 tickets sold in Arizona, California, New York and Pennsylvania matched the first 5 numbers to win $1 million.
Leer más »
Tuesday is the deadline for mail-in ballot requests for Aug. 8 election.Tuesday is the deadline to request a mail-in ballot for the Aug. 8 election. Here's how to make sure your absentee vote gets counted.
Leer más »