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PBOC’s Yi Urges China Banks to Support Smaller Companies
PBOC’s Governor Yi Gang urged banks to support smaller companies through innovations in financial services and products.
24 Aug 2020, 10:08 AM IST 
Yi Gang, governor of the People's Bank of China (PBOC), speaks during the Lujiazui Forum in Shanghai, China. (Photographer: Qilai Shen/Bloomberg)
(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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