Financial sector to enhance support

The China Banking Association and the All-China Federation of Industry and Commerce jointly issued a proposal on Monday, calling on the country's financial institutions to use more concrete measures to enhance services for private enterprises. The proposal calls for optimizing credit services for private enterprises by setting annual service targets, increasing credit supply and expanding service coverage. It emphasizes stable and effective incremental credit support for private businesses, and greater support for small and micro enterprises in obtaining first-time loans, roll-over loans and credit loans.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 50 pips to 7.1688 against the US dollar on Monday, according to the China Foreign Exchange Trade System.

Xinhua - China Daily