China to amplify private enterprise financial support

China is set to further amplify financial support for private enterprises by introducing a new raft of measures to elevate the proportion of lending to private enterprises, according to the People's Bank of China, the country's central bank.

Ma Jianyang, deputy head of the financial market department at the PBOC, said on Wednesday that the central bank has drafted a guideline focusing on ramping up financial support for private enterprises and will work to finalize and implement the guideline at an early date.

The PBOC will guide financial institutions to increase the weighing of private enterprise services in performance evaluation, scale up credit loans and increase their allocation of private enterprise bonds, Ma said.

IPOs and refinancing of private enterprises will also be supported, Ma said at a conference that convened heads from financial regulators, stock exchanges, financial institutions and private enterprises to advance the work related to strengthening financial support for private enterprises.