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BEIJING, June 26-- China will further cut the real interest rate on loans to micro and small enterprises, pilot reform measures regarding financial services for private, micro and small firms, support more intellectual property pledge financing and credit supply for the manufacturing sector, and promote innovation and the development of the real economy, the State Council's meeting chaired by Premier Li Keqiang decided Wednesday. The Chinese government puts great emphasis on financing for micro and small enterprises. Premier Li has repeatedly highlighted the need for taking a multi-pronged approach in lowering the real interest rate so as to meaningfully ease the financing difficulties facing micro and small enterprises. It was pointed out at the Wednesday meeting that financing costs for micro and small businesses have come down over some time, thanks to the combined efforts made by various authorities in implementing the requirements by the Central Economic Work Conference and the Government Work Report. Going forward, liquidity will be kept reasonably sufficient and the lending rate for micro and small businesses will be further lowered. "We will keep the prudent monetary policy neither too tight nor too loose, with anticipatory adjustments and fine-tuning as appropriate, to adapt to the shifting dynamics in the international and domestic markets," Li said. The meeting decided on the following measures. Market-oriented interest rate reform will be deepened to improve commercial banks' Loan Prime Rate mechanism and better harness LPR's role in shaping the real interest rate. Banks will be urged to reduce lending surcharges to lower financing costs for micro and small businesses. | 
