The People's Bank of China (PBOC), together with the All-China Federation of Industry and Commerce, the National Financial Regulatory Administration (NFRA), the China Securities Regulatory Commission (CSRC) and the State Administration of Foreign Exchange (SAFE), convened a symposium on financial support for the high-quality development of private enterprises and set out a package of actions aimed at increasing financing availability for private and small firms. Priorities include implementing a moderately loose monetary policy, making fuller use of structural monetary policy tools, and strengthening supervisory guidance to require financial institutions to treat firms of different ownership types equally and increase credit supply to private and micro and small enterprises. The authorities also called for implementing the “25 measures” to support the private economy, improving credit-enhancement arrangements for private small and medium-sized enterprises, and accelerating the issuance of policy rules to standardise supply chain finance business. On markets, the programme includes strengthening bond market system-building and product innovation, continuing to leverage the “Second Arrow” tool, and driving implementation of capital-market measures including the “Eight Measures for the STAR Market”, the “16 measures for serving the modern industrial system” and the “Six measures on M&A” to support private firms’ equity, bond and other diversified financing channels.
Central Bank of the Republic of China 2025-03-02
People's Bank of China and regulators set priorities to expand credit and capital market financing for private enterprises
The People's Bank of China and regulatory bodies outlined a strategy to boost financial support for private enterprises, focusing on increasing financing for private and small firms. Priorities include a moderately loose monetary policy, equal treatment of firms regardless of ownership, and improved credit supply to private and micro enterprises. The plan emphasizes strengthening bond markets, product innovation, and supporting diverse financing channels for private firms.