China's central bank has relaxed its conditions on targeted reserve requirement cuts to benefit more small firms, in the latest move to support the slowing economy.
The People's Bank of China will include loans for small firms with a credit line of less than 10 million yuan (Dh5.36m) in its assessments for targeted reserve requirement cuts, up from 5m yuan, it said late on Wednesday.
"This will help expand the coverage of preferential policies for inclusive financing for small enterprises and will also allow financial institutions to meet the lending needs of these enterprises," the central bank said in a statement on its website.
The policy change takes effect from 2019, it said.
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China's economic growth slowed to 6.5 per cent in the third quarter, the weakest pace since the global financial crisis. Indications are that momentum is likely to come off further in the fourth quarter and 2019. China's cabinet has pledged to improve inclusive financing and policy on targeted reserve requirement cuts for small and private companies.
The government has been providing support for small firms and private enterprises, which are vital for economic growth and employment as headwinds stiffen due to trade friction with the United States.
The central bank cut reserve requirements for lenders four times in 2018, with further reductions widely expected.
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Match info
Premier League
Manchester United 2 (Martial 30', Lingard 69')
Arsenal 2 (Mustafi 26', Rojo 68' OG)
The biog
Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.
Favourite book: Anything by Sidney Sheldon.
Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.
Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.
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Favourite things
Luxury: Enjoys window shopping for high-end bags and jewellery
Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount
University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China
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New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs
New Zealand win by 47 runs
New Zealand lead three-match ODI series 1-0
Next match: Zayed Cricket Stadium, Abu Dhabi, Friday
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
Off-roading in the UAE: How to checklist
Cricket World Cup League 2
UAE squad
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Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
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