Banks told to innovate lending
Print Edition
Chinese economists have urged banks to be innovative in lending to capital-thirsty small firms to help them weather the economic downturn.
Banks and policy makers should innovate to address the difficulties small firms always meet in raising capital because of inadequate guarantees, economist Cheng Siwei said on Monday during a forum on small firms’ development.
He advised banks to consider whether they could “allow small firms to pledge their receivables or orders as securities for loans.”
Li Zibin, president of the Chinese Small and Medium-Sized Enterprise Association, said patent technology should be accepted for small firms to get the loans they so badly need in their start-up, a practice in some countries.
Delegates said private banks and Internet financial firms can also help them.
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