Senior Chinese official He Lifeng on Sunday met with former U.S. Treasury Secretary Henry Paulson in Beijing, and the two sides exchanged views on both China-U.S. economic and trade relations and the global economy.
Noting that China's economy is maintaining its recovery momentum, He, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the Office of the Central Commission for Financial and Economic Affairs, said that China's innovation-driven development has achieved remarkable results, while market expectations continue to improve, and adding that domestic demand potential and internal circulation space are huge.
China's new development pattern is taking shape at a faster pace, the fundamentals of the Chinese economy remain unchanged and its prospects remain bright, He said.
Noting that U.S.-China relations are very important and green transformation is the general trend, Paulson said that the Paulson Institute is willing to continue to contribute positively to the stability of U.S.-China relations and green and low-carbon development.
Senior Chinese official, former U.S. treasury secretary exchange views on China-U.S. economic, trade relations
The China Banking Association and the All-China Federation of Industry and Commerce jointly issued a proposal on Monday, calling on the country's banking financial institutions to use more concrete measures to enhance services for private enterprises.
Banking financial institutions are called on to innovate their products by leveraging their strengths to provide tailored financial services for private enterprises of different types and at various development stages.
"[Banking financial institutions] should set annual service targets, increase credit supply, and expand service coverage to ensure stable and effective incremental credit support for private businesses. On the basis of reasonable pricing, the overall financing costs for private enterprises should be gradually reduced," said Xing Wei, vice president of the China Banking Association.
The proposal urges improving the accessibility and convenience of financing options and addressing financing difficulties faced by small and micro-private enterprises. It also suggests implementing preferential policies specifically for these enterprises, including fee reductions.
Banking financial institutions are urged to meet the reasonable financing needs of private enterprises and adopt targeted strategies to address specific challenges, according to the proposal.
China's banking financial institutions urged to better support private economy
