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China to save enterprises 1.5 trillion yuan this year

Updated: Nov 07,2020 06:54 AM    Xinhua

BEIJING — China's financial institutions are projected to save enterprises 1.5 trillion yuan (about $226.3 billion) this year through measures to boost the real economy, according to an official from the central bank.

In the first 10 months, financial institutions saved enterprises around 1.25 trillion yuan, said Liu Guoqiang, deputy governor of the People's Bank of China, at a news briefing on Nov 6.

China has taken measures to facilitate the real economy, including lowering interest rates, deferring loan repayments for micro, small and medium-size enterprises, supporting the issuance of un-collateralized loans to small and micro companies, and exempting service fees.

The country will advance the targeted implementation of related policies and ensure that the policy tools can directly benefit enterprises, Liu said.

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