Posted on October 22, 2008 - by lincolnw

China Emphasizes Microcredit Expansion Again

BEIJING, October 21, SinoCast — The People’s Bank of China (PBC), the country’s central bank, has recently encouraged some commercial banks to devote themselves to supporting the microfinance and financing schemes of the domestic SMEs (small and medium enterprises).

Several days ago, Wen Jiabao, premier of the State Council, emphasized that the nation should further improve the microcredit guarantee system, stimulate more financial institutions to microfinance, broaden SMEs’ direct financing channels, as well as finance the technical innovation of SMEs in the fourth quarter of 2008 and even the near future…{click this link to read the rest of this article}