May 29, 2018 / 1:16 PM / 6 months ago

China central bank aims to expedite drafting of regulations for financing of small businesses

FILE PHOTO: China's Central Bank Governor Yi Gang arrives at IMFC plenary during the IMF/World Bank spring meeting in Washington, U.S., April 20, 2018. REUTERS/Yuri Gripas

BEIJING (Reuters) - China’s central bank will speed up the drafting of financial regulations that govern the financing of small businesses, Central Bank Governor Yi Gang said on Tuesday, as part of wider efforts to beef up its private sector.

In comments made at a conference in Beijing, Yi said the People’s Bank of China, the country’s central bank, would adopt monetary policy tools flexibly and promote innovation of financial products for small companies to finance their businesses.

Reporting by Zhang Min in Beijing and Lee Chyen Yee in Singapore, editing by Larry King

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