The China Securities Regulatory Commission, together with the People’s Bank of China, the All-China Federation of Industry and Commerce, the National Financial Regulatory Administration and the State Administration of Foreign Exchange, convened a symposium on financial support for the high-quality development of private enterprises. The meeting set out priorities to expand and improve financing for private firms, including through bank credit, the bond market and capital markets. The agenda included implementing a moderately accommodative monetary policy and making use of structural monetary policy tools, strengthening supervisory guidance and directing financial institutions to treat firms of different ownership types equally while increasing lending to private and small and micro enterprises. Participants also called for full implementation of the “25 measures” supporting the private economy, improvements to credit enhancement arrangements for private SMEs, faster issuance of a policy document to standardise supply chain finance business, stronger bond market制度建设 and product innovation, and continued use of the “second arrow” to catalyse bond financing. On the capital-markets side, the meeting highlighted implementation of the “STAR Market eight measures”, the “sixteen measures” for serving the modern industrial system and the “six measures” on mergers and acquisitions to support private firms’ growth via the capital market. The symposium heard inputs from five private enterprises including Geely Holding, SenseTime, YTO Express and Yili Group, and experience sharing from Industrial and Commercial Bank of China, PICC Group, CITIC Securities, the National Financing Guarantee Fund and the Shanghai Stock Exchange. Follow-up actions cited included accelerating the supply chain finance policy document and driving implementation of the various announced policy packages.
China Securities Regulatory Commission 2025-03-02
China Securities Regulatory Commission joins multi-agency meeting urging stronger credit, bond and capital-market support for private enterprises
The China Securities Regulatory Commission, with financial authorities, held a symposium to boost financial support for private enterprises by expanding financing through bank credit, bond, and capital markets. Priorities include accommodative monetary policy, equal treatment of firms, and advancing credit enhancement for SMEs. The meeting also stressed policy standardization in supply chain finance and innovation in bond market products.