Reserve ratio cuts to tackle slowdown
Updated: 2014-05-31 07:47
By Zheng Yangpeng (China Daily)
|
|||||||||||
It said efforts will be stepped up to write off bad debts and push forward credit asset securitization in an effort to free up loan stocks.
To rein in the soaring lending rate, the State Council vowed to regulate various banking activities.
"This is a good step toward curbing the lending rate," said Zhu Baoliang, an economist at the State Information Center, a government think tank.
"Addressing structural problems, such as gradually eliminating overcapacity and strengthening oversight on interbank lending and online financial products, is critical to bringing down borrowing costs."
In a sign that Beijing is not satisfied with the implementation of a key document released in July that urged the financial system to better support the real economy, the State Council ordered a nationwide inspection of how its policies are carried out.
Analysts said the latest move is part of a series of measures taken in past days that amount to a "mini-stimulus" aimed at protecting the official annual economic growth target of "about 7.5 percent".
Other recent measures include the Ministry of Finance's call for local governments to speed up spending of budgeted funds.
|
![]() |
![]() |
| Top 10 most innovative companies in world | Top 10 most competitive countries and regions |
Related Stories
Full text: Report on China's economic, social development plan 2013-03-20 10:36
Chinese economy at the crossroads 2014-05-28 10:42
Incentive for rural finance 2014-04-24 07:00
Cabinet promises more funds for smaller firms 2013-07-16 01:49
Reserve ratio cuts to tackle slowdown 2014-05-31 07:47
Debate swirls on reserve ratio requirement 2014-05-28 06:56
Today's Top News
Vets flock to Normandy to remember D-Day
G7 'deeply concerned' about S China Sea tensions
Ukraine tightens control on border
Silk Road offers Sino-Arab blueprint
Clinton 'loves to see' female leader
US says to work with Egypt's president-elect
Oversight of military firms on rise in China
Abbott aiming to mend ties with Jakarta
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
|
|
|
|
|
|













