Financing services to help small businesses grow

Move aims to boost inclusive finance and promote agriculture; corporate sector to aid consolidation of credit system, rebalance the economy

Limited financing has long been viewed as an obstacle for small businesses and business startups. Now, an upcoming policy from the State Council, China's Cabinet, is expected to help such companies overcome the hurdle.

It was decided at the State Council's executive meeting, presided over by Premier Li Keqiang on May 3, that major commercial banks in China are to set up "inclusive finance" units by the end of 2017 to support small and micro-businesses as well as startups. The move will also help farmers under poverty alleviation efforts, according to a statement released after the meeting.