August 22, 2018 / 12:24 PM / a year ago

China cabinet encourages financial institutions to boost loans to small firms - media

FILE PHOTO: Two dogs wander on a waste land, covered by green dust after buildings in the area were demolished, in the outskirts of Beijing, China November 8, 2017. Picture taken November 8, 2017. REUTERS/Aly Song/File Photo

BEIJING (Reuters) - China will encourage financial institutions to boost loans to smaller firms, though it will not resort to strong policy stimulus, the cabinet said on Wednesday, according to state radio.

The State Council discussed measures to assist smaller companies facing financing difficulties and said China would maintain prudent monetary policy.

The comments echoed those made by a central bank official on Tuesday that China would keep liquidity reasonably ample and offer more help to companies having trouble obtaining financing.

Reporting by Beijing Monitoring Desk

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