A central bank representative on Wednesday urged urban commercial banks to better serve the country's private and micro enterprises, according to the official website of the People's Bank of China (PBOC).
Pan Gongsheng, deputy head of PBOC, asked urban commercial banks to improve their abilities to effectively manage or prevent financial risks while securing sound, healthy and sustainable development of financial services to private and micro firms.
Since their establishment, urban commercial banks have regarded private and micro companies as their primary clients and the major force to offer financial services to, said Pan.
Urban commercial banks need to treat private and micro businesses fairly and equally, and revamp institutions when it comes to credit resource allocation, authorized approvals and performance assessments of those companies, Pan added.
Pan also stressed the need for technological innovation in financial services to meet those firms' financial demands.