Chinanews Client, November 6th. On November 6, Liu Guoqiang, vice governor of the People’s Bank of China, stated at the State Council’s regular policy briefing that according to data from the People’s Bank of China and the China Banking and Insurance Regulatory Commission, the financial system passed the reduction in the first 10 months of this year. Interest rates, deferred principal and interest payments for small, medium and micro enterprises, and inclusive small and micro credit loans, two direct tools, reduction of fees, support for corporate restructuring, and debt-to-equity swaps, have delivered about 1.25 trillion yuan in profits to the real economy.
It is estimated that the target of 1.5 trillion yuan in profit distribution can be achieved throughout the year.