The China Banking and Insurance Regulatory Commission (CBIRC) has signalled the launch of further policies in the financial sector to keep the Chinese economy on an even keel as the impacts of the COVID-19 pandemic remain keenly felt.
CBIRC said at a recent specialist meeting that it would “use real action to implement politicised and humanised finance,” including “scientific application of loans, bonds, equity, insurance and other financial resources, and increases and improvements to financial supply.
The CBIRC meeting said the regulator would “support appropriate advance undertaking of infrastructure investment,” as well as “provide financial safeguards for key areas and major projects during the 14th Five Year Plan.”
“[We] will guide financial institutions in appropriately grasping lending policy; strengthen financial support for industries, small businesses and individual commercial and industrial registrants severely affected by the pandemic, and raise the convenience of finance while reducing comprehensive financing costs.”
