China to beef up financial support for key areas: official

BEIJING, Oct. 18 (Xinhua) -- China will increase financial support for key areas and weak links by optimizing the supply of financial resources to help expand effective demand, an official said Friday.

More efforts will be made to beef up financial support for ultra long-term treasury bonds and special bonds, strengthen the financing guarantee for major projects, and enrich consumer financial products, said Li Yunze, head of the National Financial Regulatory Administration (NFRA).

The NFRA will accelerate the expansion and efficiency of the urban real estate financing coordination mechanism, and promote banking institutions to make good use of policy and commercial financial tools to revitalize idle land and digest the inventory of commercial housing, Li stated at the Annual Conference of Financial Street Forum 2024.

He stressed the need to intensify the cultivation of patient capital and promote the development of new quality productive forces.

The NFRA will also support qualified insurance institutions to set up new private equity investment funds, Li added.