On January 23, Pan Gongsheng, Party Secretary and Governor of the People's Bank of China, stated that efforts to enhance the inclusivity and convenience of financing for small, micro, and medium-sized enterprises are continuously being strengthened. The central bank has increased the quota for relending and rediscount facilities supporting agriculture and small businesses by 500 billion yuan, bringing the total to 4.35 trillion yuan. A separate 1 trillion yuan relending facility has been established specifically for private enterprises, with a focus on supporting small and medium-sized private firms.

Financial Institutions are encouraged to issue financial bonds targeted at small and micro enterprises, and to effectively utilize the bond financing support tools available for private enterprises. The credit enhancement system for private small and medium-sized enterprises will be improved by leveraging the roles of government-backed financing guarantees and information-sharing mechanisms.

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