hsbc.co.uk; Zhou Xiaochuan: Will continue prudent monetary policy

hsbc.co.uk; Zhou Xiaochuan: Will continue prudent monetary policy

hsbc.co.uk report: on July 15, Bank of China (PBOC) Governor Zhou Xiaochuan said to continue to implement prudent monetary policy, maintain a reasonable amount of credit, create a favorable financial environment for the development of small and micro enterprises. Push forward interest rate reform steadily, develop the basic effect of market in resource allocation in greater degree, and improve the credit availability of small and micro enterprises.

On the small and micro enterprise financial services experience sharing video and telephone conference, Zhou Xiaochuan said to balance the relationship between steady growth, structural adjustment, control inflation and risk prevention. Integrated use of quantity, price and other monetary policy tools, give full play to the guiding role of re-lending, rediscount and differentiated reserve dynamic adjustment mechanism. Continue to implement the low deposit reserve ratio for small and medium financial institutions, revitalize the stock and make good use of incremental, increase the capital source of small micro-enterprise credit funding.

Zhou Xiaochuan said: "In the premise of risk control, we should promote the development of convention and securitization development of credit assets. Guide financial institutions to invest small and micro enterprises with revitalized capital. Accelerate the development of the inter-bank bond market, support qualified small and micro enterprises to publish the debt financing instruments. In addition, to further promote the development of private financing norms. Play a role of private financing in expanding of financing sources of small and micro enterprises."