China’s financial policies ‘accidentally hit’ private sector, says top political adviser

By Zhang Hongpei Source:Global Times 

Yang Weimin, deputy head of the Economic Committee of the National Committee of the Chinese People’s Political Consultative Conference, speaks at a press conference in 2018. Photo VCG

China’s financial policies, which emphasize deleverage and tighter regulation, are moving in the right direction but the system has also hurt many private companies unintentionally, said a vice chief of a political advisory body.

These policies, aimed at curbing potential systemic financial risks, mean that private companies have obtained less and less credit from financial institutions or other proper channels, said Yang Weimin, deputy head of the Economic Committee of the Chinese People’s Political Consultative Conference (CPPCC).

Source: http://www.globaltimes.cn/content/1139973.shtml