Weekly policy snapshot of Chinese economy

BEIJING, Aug 18 (Xinhua): The following are the key moves taken by policymakers in the past week to enhance China's economic strength and sustainability:

China's banking and intellectual property regulators have decided to jointly boost the use of intellectual property (IP) as a financing tool to support the development of innovative enterprises.

Commercial banks are encouraged to establish separate credit programmes and specific in-house performance appraisal and incentive mechanisms to support IP pledge financing under the premise of having risks under control.

The China Banking and Insurance Regulatory Commission said it would tolerate a slightly higher bad loan ratio in IP pledge financing business of commercial banks.

The People's Bank of China unveiled a plan to improve and reform the country's loan prime rate (LPR) mechanism in its latest efforts to cut financing costs for the real economy.