PBOC’s Yi Urges China Banks to Support Smaller Companies

(Bloomberg) -- People’s Bank of China Governor Yi Gang urged banks to support smaller companies through innovations in financial services and products.

The current economic situation is “complex and severe,” Yi told a seminar in the eastern city of Hefei on Friday, according to a statement posted on the central bank’s website Sunday.

The governor said banks should adapt financial services and products, increase investment in fintech research and technology and integrate on-site and online financial services.

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