China takes steps to help non-state firms to tackle financing difficulties, collect late payments

( November 12, 2018, 03:57 GMT | Official Statement) -- MLex Summary: Chinese Premier Li Keqiang has called on major commercial banks to lower their average lending rate for small businesses in the fourth quarter by 1 percentage point from the first quarter, and to scrap unnecessary procedures and surcharges for financing. During a recent executive meeting of the State Council, Li also introduced policies encouraging state-run financing guarantee companies to provide easier and cheaper financing for non-state firms, especially small business suppliers. Additionally, the State Council will soon carry out a special campaign to urge government agencies and large-scale state-owned enterprises delaying payments to non-state firms to resolve late payment issues within a limited time.The statement follows:...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.

Know what others in the room don’t, with features including:

Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

China takes steps to help non-state firms to tackle financing difficulties, collect late payments

Prepare for tomorrow’s regulatory change, today

Related Sections