Improving financial services for small firms

China's financial regulator is shifting the focus of its approach to small-business lending away from aggressive loan growth targets toward higher-quality and more sustainable credit support that better aligns with the real financing needs of micro and small enterprises as well as the broader economy.

The National Financial Regulatory Administration recently issued a notice calling for efforts to promote financial services for such enterprises by "stabilizing credit supply, optimizing credit structure, improving quality and ensuring sustainability".