China says it will step up financing support for small firms
BEIJING, Sept 1 (Reuters) - China will step up financing support for small firms by increasing annual relending quotas by 300 billion yuan ($46.39 billion), state media quoted the cabinet as saying on Wednesday.
The central bank will provide more support via rediscount instruments to help ease financing burdens of small firms, state media said.
The government will strengthen its policy reserves and improve cross-cyclical adjustments, state media said, adding that local government special bonds will help drive effective investment.
($1 = 6.4665 Chinese yuan renminbi)
(Reporting by Kevin Yao and Beijing newsroom; Editing by Andrew Heavens)
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