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China Daily / 2020-06 / 30 / Page013

PBOC steps to ease woes of small firms

By CHEN JIA | CHINA DAILY | Updated: 2020-06-30 00:00

Innovative policy tools to ensure credit flows directly to real economy

Monetary authorities are expected to deploy more targeted measures and innovative policy tools to ensure direct credit flows to small enterprises, based on updated projections of the current domestic economic situation, analysts said on Monday.

Signals of economic recovery and moderate inflation in April and May might have driven the monetary policy toward a more flexible and targeted status, preventing large-scale stimulus that may lift financial leverages in the post-pandemic period, they said following a statement released by the central bank on Sunday.

The People's Bank of China, the central bank, said it will continually leverage the 1 trillion yuan ($141.3 billion) quota of relending and re-discounting facilities for inclusive financing, to implement the newly-created monetary tools and make sure that the credit directly reaches the real economy, said the statement.

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