Financial reform to serve China's real economy

China's top banking supervisory body has held a press conference on further reform measures to support the real economy.

In its press conference, the China Banking Regulatory Commission said more support will be given to the agriculture sector, small and micro-sized enterprises,vital state projects, emerging industries and indemnificatory housing.

The Regulator said the intermediate process, and the cost of financing will be further reduced to support small and micro-sized enterprises, which have always found it difficult to obtain financing. The money supply and social financing have seen reasonable growth in the first quarter of this year. Liquidity has been added to the market, but at the same time, risk control and bank service will be improved. On property loans, the regulator said that it makes up only about 20 percent of the overall loans, and 75 percent of these are individual mortgages.

In general, property loans are stable, and will support loans to individuals for their first property. However, it will have more control on developers to prevent a fund chain break and financial risks.