Zou Liang, head of financial markets at the People's Bank of China (PBOC), said that China plans to reduce the cost of financing, and at the same time intends to maintain a sufficient level of liquidity.
According to Zou Lan, the Central Bank will deepen interest rate reforms, which in turn will reduce financing costs.
The day before, Chinese Premier Li Keqiang warned that the authorities should not apply a universal approach to maintain economic growth.
Meanwhile, Deputy Minister of Industry and Information Technology Xu Xiaotian noted that small and medium-sized companies are seeing new challenges and are facing downward pressure, which is intensifying.
Zou Lana noted that last month the weighted average loan rate for small businesses decreased by 0.14% compared to December 2020, and amounted to 4.94%.