China said on Thursday it will take steps to boost bank lending and subsidies to small and medium-sized businesses in labour intensive industries, many of which are facing a tougher business environment.
A joint statement issued by nine government departments outlined broadly how smaller firms would be assisted, but did not give specifics on what kind of lending help will be extended.
Among the bodies issuing the statement was the China Banking Regulatory Commission and the Ministry of Industry and Information Technology.
The statement said that the government would "develop financial products and services fit for small- and medium- sized firms in labour intensive industries and set loan rates reasonably".
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