CBIRC Releases Trial Rules for Assessment of MSE Financial Services of Chinese Commercial Banks

1026

The China Banking and Insurance Regulatory Commission (CBIRC) has just released trial regulations on the assessment of the financial inclusion levels of commercial Chinese banks.

CBIRC said that the new “Commercial Bank Micro-and-Small Enterprise Financial Supervisory Assessment Measures (Trial)” (商业银行小微企业金融服务监管评价办法(试行)) had the goal of “more effectively employing regulatory policy tools to guide and encourage commercial banks to comprehensively raise their ability and level to provide MSE’s with financial services, and resolve the difficulty of MSE’s in obtaining funds.”

The release of the Assessment Measures arrives amidst efforts by the Chinese central government to step up financial inclusion and financial access in the wake of the economic impacts of the COVID-19 pandemic – particularly upon smaller businesses.

China’s “Government Work Report” for 2020 set the goals of “markedly increasing the availability of loans for medium, small and micro-enterprises” and “markedly reducing financial costs.”

Related stories

CBIRC Or­ders Large-scale Chi­nese Banks to Grow Man­u­fac­tur­ing Loans by at Least 5% in 2020

CBIRC Com­mits to Fur­ther Squeeze on Shadow Bank­ing Fol­low­ing 16 Tril­lion Yuan De­cline

CBIRC Says Im­pact of COVID-19 on Chi­na’s Bank­ing Sec­tor un­der Con­trol De­spite Rise in Non-per­form­ing Loans