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China’s banking and insurance regulator last Thursday pledged continued efforts to help micro, small and medium-sized enterprises (SMEs) overcome coronavirus-related challenges and take the country’s reform and opening-up in the financial sector to a deeper level.

A spokesperson for the China Banking and Insurance Regulatory Commission said the commission will fully implement policies such as allowing SMEs to delay the repayment of capital and interest.

It will also guide major banks in meeting the target of achieving growth in their lending to SMEs of more than 40 percent.

The banking and insurance industry will increase funding support for new infrastructure, new urbanisation initiatives and major projects, and step up efforts in financial poverty alleviation, he told reporters.

The commission will push for broader and deeper opening up in the financial sector on the condition that financial security can be assured.  — xinhuanet.com.