China.org.cn | January 15, 2020
Bauhinia Magazine:
Earlier Mr. Zhu spoke about the difficulties and high costs of financing faced by enterprises.
Could you please give some details about the achievements made by the China Banking and Insurance Regulatory Commission in serving the real economy and alleviating the difficulties faced by enterprises in accessing affordable financing? What substantial results have been achieved and what measures have been taken?
Zhu Shumin:
We have taken many measures, and this year we will start by focusing on improving regulations. We are drawing up the measures on the supervision, administration and appraisal of commercial banks' financial services for small and micro businesses. We will develop an evaluation method and index system which centers on credit services and covers the overall business processes of financial services provided by commercial banks for small and micro businesses. The measures will be released in the near future. The regulation will incorporate many of the effective measures we have adopted in the early stages, including the renewal of loans and first-time loans that people are concerned about, as well as some work requirements for commercial banks. There will be more clarity when the measures are unveiled. I'll stop here. Thank you.