China’s FIs urged to refine services for credit support

The NFRA also highlighted the role of technology in improving inclusive finance.

China's financial regulator has announced plans to enhance credit support for private enterprises, emphasising stable and increased lending to small and micro businesses, according to government news agency Xinhua.

The National Financial Regulatory Administration (NFRA) stated that efforts will focus on facilitating first-time loans, renewals, and credit loans to smaller firms. 

The banking and insurance sectors will be guided to refine financial services for private enterprises, ensuring more practical and targeted support.

The announcement followed an internal meeting to discuss strategies outlined at a recent high-level symposium on private enterprises.

The NFRA also highlighted the role of technology in improving inclusive finance to better address the financing needs of private businesses. 

Additionally, the regulator reaffirmed that all enterprises, regardless of ownership type, will receive equal treatment in financial market access.