China’s Crippled Financial Sector
Even in the best of times, it is difficult for China’s small and medium-size enterprises to get bank loans. But, with the current regimen of credit austerity making conditions for SMEs worse, the financial sector – the least reformed sector in China – now is suffocating the beating heart of the country’s economic dynamism.
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BEIJING – Even in the best of times, it is difficult for China’s small and medium-size enterprises to get bank loans. But with the current regimen of credit austerity, imposed to contain economic overheating and inflationary pressure, making conditions for SMEs worse, the financial sector – the least reformed sector in China – now is suffocating the beating heart of the country’s economic dynamism.