CBIRC voices support for more lending

SHANGHAI, Aug 13 (Reuters): China's banking and insurance regulator said it will facilitate the transmission of monetary policy by supporting more lending by financial institutions.

The China Banking and Insurance Regulatory Commission (CBIRC) said in a statement posted on its website that it would guide financial institutions to expand financing, including to qualified private companies and small businesses.

It would encourage them to balance the promotion of economic growth with controlling risks.

The move comes amid a period of greater uncertainty for the Chinese economy, in part because of an intensifying trade conflict between China and the United States.