The Chinese mainland’s National Financial Regulatory Administration (NFRA) has announced a renewed commitment to addressing financing challenges faced by private enterprises. Li Yunze, head of the NFRA, emphasized that the administration will prioritize support for micro and small-sized businesses, recognizing their vital role in the economy.
Going forward, the NFRA plans to implement policies and initiatives aimed at easing access to capital, reducing borrowing costs, and fostering a more favorable financial environment for private sector growth. These efforts are expected to stimulate entrepreneurship, encourage innovation, and contribute to sustainable economic development.
By focusing on the needs of private businesses, especially those that are micro and small-sized, the NFRA aims to create a more inclusive financial system that promotes diversity and resilience within the market. This strategic move underscores the importance of the private sector in driving economic vitality and achieving long-term prosperity.
Reference(s):
cgtn.com
