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BEIJING, Nov. 9-- China will make more targeted efforts to boost the financial sector's support for the real economy and tackle financing difficulties for small and micro businesses, the State Council's meeting chaired by Premier Li Keqiang decided on Friday. The meeting heard a report on delivery of the policies regarding accessible and affordable financing for micro and small businesses. The Chinese government places high importance on the financial services targeting micro and small businesses. Premier Li Keqiang underlined the importance to smooth the policy transmission channels with targeted measures and encourage financial institutions to raise the share of loans to micro and small companies and cut their financing cost. The People's Bank of China, China's central bank, has cut the required reserve ratio for commercial banks four times this year, releasing a total liquidity of 2.3 trillion yuan. By the end of September, outstanding loans for micro and small firms totaled over 33 trillion yuan, up by 11.4 percent year on year. "Government departments are encouraged to take multi-pronged approach, and we must waste no time in helping small firms tackle their liquidity difficulties," Li said, "No loans extended should be willfully withdrawn." It was pointed out at the Friday meeting that greater efforts will be made to enhance financial services for the private sector, especially micro and small firms. | 
