BEIJING: China’s central bank pledged more financial support for small and micro businesses while saying it plans to stick to a prudent monetary policy stance this year.
The People’s Bank of China (PBoC) will improve the incentive mechanism for lending to such companies, it said in a statement following a two-day work conference in Beijing. Authorities will make it easier for them to gain access to financing through targeted reserve cuts, re-lending and re-discounting, among other policy tools, it said.
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