The city of Shenzhen has announced a number of new financial measures designed to help small and medium companies.
The local banking regulation bureau said Tuesday that it would support the companies in a variety of ways, including a measure that permits Shenzhen banks to allow a two-percent higher level in the companies’ non-performing loan ratios.
Community banking branches will be created mainly to service the companies. The local government will also encourage financial institutions to create more new products for small-and-medium firms to borrow money. In addition, the banking system will continue to work to protect consumers.