Li promises better financial environment

Chinese Premier Li Keqiang held a symposium for domestic enterprises and financial organizations in Chifeng city, northern Inner Mongolia Autonomous Region, according to China News on Saturday.

The event on April 22 provided a platform for communication between domestic real economy and the financial institutes. Li encouraged the attendants to be honest about their problems and propose suggestions.

Chifeng NFC Zinc Industry Co General Manager Wang Fengchao said that it was difficult for companies to obtain loans and the real lending rate now has increased 10 percent to 20 percent.

Erdos Group Board chairman Wang Xianglin, highlighted several issues, including pressures brought from taxation, difficulties in projects approval process and high loan interest rate. He suggested that the government should give the options to the market, and thus increase work efficiency and reduce production cost.

Premier Li Keqiang said that the government will adopt a prudent monetary policy and properly utilize the "policy tools" to create a better financial environment for companies.

As for future development, Li suggested that financial institutions should diversify their service measures for the companies and at the same time, companies must adapt themselves to market changes and create new competitive advantages.

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