PBOC says to step up financial support to small and medium-sized businesses
PBOC issues guidelines on increasing financial support to SMEs
- To allow SMEs to delay some loan repayments to 2021
- PBOC to buy SME credit loans from some qualified banks
- To shift business focus from property, local government financing vehicles to SMEs
The fact that China is continuing to take added action in order to bolster support for the financial system and smaller firms goes to show that the battle against the economic fallout from the virus outbreak is far from being over.
Not least when it will take time to spur back domestic demand and the fact that global travel remains dead, which will continue to heavily impact the services sector.