September 19, 2018 / 9:43 AM / a month ago

China central bank urges banks to step up support for private firms

BEIJING, Sept 19 (Reuters) - China’s central bank governor has asked financial institutions to step up financing support for private companies, and urged major banks to set examples on providing better financial services for private firms.

Speaking at a meeting with representatives from serveral financial institutions, the central bank governor Yi Gang said financial institutions should treat state-owned firms and private firms equally and offer support for private companies that have temporary liquidity problems, the central bank said on its website on Wednesday.

The People’s Bank of China (PBOC) will maintain prudent and neutral monetary policy and keep liquidity reasonably ample, Yi was quoted as saying.

Governors from Industrial and Commercial Bank of China, China Construction Bank Corp, China Minsheng Banking Corp and Bank of Beijing attented the meeting, the PBOC added. (Reporting by Beijing Monitoring Desk; Editing by Gopakumar Warrier)

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