China to increase credit support for private enterprises: financial regulator

BEIJING -- China will increase credit support for private enterprises, the country's financial regulator has said.

Efforts should be made to maintain a stable and effective increase in credit supply to private enterprises, and to strengthen support for first loans, renewals and credit loans to small and micro companies, the National Financial Regulatory Administration said in a statement on its website.

The statement came after the administration held a meeting to study the key points and arrangements of a high-level symposium on private enterprises.

The administration called for strengthening the role of technology in empowering inclusive finance to effectively meet the financing needs of private enterprises.

The banking and insurance industries will be guided to make financial services for private enterprises more practical and refined, said the administration.

In terms of market access in the financial industry, enterprises under all types of ownership will be treated equally and fairly, according to the administration.