BEIJING, Sept. 14, 2023 (Xinhua) – The Chinese Ministry of Finance has proposed policies to enhance comprehensive financing in the next five years, and these policies will enter into force on the first of next October.
The central government will arrange funds for inclusive financing to support interest rate discounts on startup loans, build a pilot area for inclusive financing, and subsidies to rural financial institutions.
Eligible startups can apply for a 50 percent discount on the effective interest rate on the loan or other subsidies amid the country’s efforts to create jobs, according to the policies.
China continues to work to facilitate financing for small businesses. Comprehensive financial loans outstanding to small and micro enterprises reached 27.7 trillion yuan (3.85 trillion US dollars) at the end of last June, an increase of 26.1 percent year on year, according to the Ministry of Industry and Information Technology.
2023-09-14 02:15:00
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