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China assigns more funds to enhance comprehensive finance this year
(MENAFN) China’s Ministry of Finance (MOF) declared in a report that the country has assigned a special fund of 9.22 billion yuan (USD1.43 billion) to boost comprehensive finance for this year, a rise by 31.2 percent from the level of last year.
The report further said that the move aspires to encourage entrepreneurship and innovation and push local administrations to encourage small and micro funding.
Comprehensive finance comprises reasonably priced, suitable and secure financial services for farmers, small businesses, those on low earnings, disabled people and the elderly.
Yi Gang, governor of the People's Bank of China, the nation’s central bank stated that up to now, over 36 million micro and small businesses and self-employed people have gained access to comprehensive loans.
The report further said that the move aspires to encourage entrepreneurship and innovation and push local administrations to encourage small and micro funding.
Comprehensive finance comprises reasonably priced, suitable and secure financial services for farmers, small businesses, those on low earnings, disabled people and the elderly.
Yi Gang, governor of the People's Bank of China, the nation’s central bank stated that up to now, over 36 million micro and small businesses and self-employed people have gained access to comprehensive loans.
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