Wen Jibao while on his inspections tour of Wenzhou made these comments and the visit reflected growing concern over surging bankruptcies in a city famous for the vitality of its mostly small and medium-sized private businesses.
Jibao China’s top economic official recommended that Beijing should make some of their policies flexible specially the ones aimed at lending and combating inflation.
He said “We should maintain the continuity and stability of our policies while giving them more foresight, relevance and flexibility, effective measures should be taken to contain the trend of usury, crack down on illegal fundraising and properly handle the problems of collateral and capital shortage in order to prevent risks from spreading and evolving on a regional scale. Small businesses play an irreplaceable role in creating jobs and boosting economic growth, it is of overall and strategic significance to support their development,”
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