(1123 CR M04)CREDIT SUPPORT FOR SMALL FIRMSDATELINE: Nov. 23, 2011LENGTH: 00:00:53VOChina should continue its credit support for cash-strapped small firms while keeping overall credit volume stable.The People's Bank of China, or the central bank, made the statement on Tuesday.It also requires banks to offer more funding to agricultural sectors, major ongoing construction projects and affordable housing programs. The central bank says the nation should maintain a prudent monetary policy and fine-tune it in an appropriate and timely manner. China has tightened it monetary policy to keep surging consumer prices in check. The central bank so far has raised interest rates three times and hiked reserve requirement ratio six times this year to mop up excessive liquidity. It says China still has strong inner growth momentum, but faces challenges both at home and abroad, especially from the escalating European debt crisis.
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Producer : Xinhua News Agency