Financial regulators to boost development of private enterprises

Updated: Aug 31, 2023 By Zhou Lanxu Print
Share - WeChat
An employee observes a robotic arm working at a smart production facility in Wenzhou, Zhejiang province, in July. [PHOTO by SU QIAOJIANG/FOR CHINA DAILY]

Chinese financial regulators will "take strong measures" to create favorable conditions for the development of private enterprises, Pan Gongsheng, governor and Party secretary of the People's Bank of China, the country's central bank, said on Wednesday.

The central bank will keep market liquidity reasonably ample and use structural tools to guide more financial resources into private enterprises, Pan said.

Private enterprises' financing via equities, bonds and loans will all be facilitated, he said. Specific measures to be taken include incentivizing banks to continuously beef up lending to private enterprises, supporting private enterprises' IPOs and refinancing in the stock market, expanding the size of private enterprises' bond financing, and encouraging institutional investors to increase their allocation of private enterprise bonds.

Pan also pledged efforts to ensure effective implementation of the 16 measures aimed at meeting reasonable financing needs of the real estate sector and further boost lending to private enterprises engaging in technological advance, specialized innovation and low-carbon transition.

Financial institutions should ensure that enterprises of all types of ownership are treated equally, Pan added.

Pan made the remarks at a conference that convened heads from the All-China Federation of Industry and Commerce, financial regulators, stock exchanges, financial institutions and private enterprises to advance the work related to strengthening financial support for private enterprises.

The conference came in as financial regulators have recently been studying and formulating supportive policies for private enterprises to put into place the guideline released by Communist Party of China Central Committee and the State Council in July to promote the development of the private economy.

Copyright©2024 China Daily. All rights reserved.


京公网安备 11010502032503号 京公网安备 11010502032503号