20 September 2019

Li urges private capital to aid financial innovation, paper says

Premier Li Keqiang has outlined the need to encourage private capital to participate more in financial innovation efforts and support job creation, China Daily reported. “Financial innovation is one of the driving forces for people to start their own businesses and provide job opportunities, and people’s demand for financial services can push forward reforms in the sector,” the premier was quoted as saying during a visit to Liaoning province Wednesday. The remarks are in line with the policy stance put forward in the 2014 Government Work Report which was released three weeks ago. Promoting an inclusive financial system, bringing down financial costs for small-scale enterprises, and acceleration of financial innovation have been set as priority tasks for this year.

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