January 7, 2020 / 1:53 PM / 14 days ago

China to help small and medium firms get funding: financial stability committee

HONG KONG (Reuters) - China will do more to help small and medium firms get funding, the state council’s financial stability committee said after a meeting chaired by Vice Premier Liu He on Tuesday.

Authorities would increase banks’ capital so they can lend more money to enterprises, according to a statement summarising the meeting posted on the Chinese government website.

“We must continue to support the development of small and medium firms and help ease their funding burden,” the statement said.

Reporting by Meg Shen and Roxanne Liu; Editing by Andrew Heavens

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