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China will also shore up points of institutional weakness and address financial violations at the root, CBIRC said.
China still needs huge capital investment in the future, although it already has the world's largest stockpile of savings, and it requires a more open financial system to allocate financial resources globally, Fang Xinghai, vice-chairman of the China Securities Regulatory Commission, said at the Boao Forum for Asia 2018.
China will adopt a more proactive fiscal policy this year, setting its fiscal deficit at above 3.6 percent of GDP and issuing 1 trillion yuan of special treasuries for COVID-19 control this year to release more funds for companies and individuals.
China maintains stable economic development with resilient growth and balanced supply and demand. [Photo/VCG]
China set up the National SME Development Fund in September 2015 to support growing SMEs in the seed and early stages. With the first batch of capital hitting 60 billion yuan, the fund called for the joint participation of private and State-owned enterprises, financial institutions, as well as local governments.
来源：资阳报