China's State Council: Will deepen market-based interest rate reform

In a recently published statement, China's State Council reiterated that they will maintain a prudent monetary policy and will fine-tune it in a "pre-emptive way." Below are some key takeaways, as reported by Reuters.

"Will roll out measures to cut financing costs for smaller firms."

"Will keep liquidity reasonably ample-china state media."

"Will deepen market-based interest rate reform-china state media."

"Will improve commercial banks' lending rate pricing mechanism."

"Bond issuance by financial institutions to make loans for smaller firms to rise significantly this year-china state media."

"Will ensure significant increase in credit to manufacturing sector this year."