China’s central bank has urged government ministries and major banks to hasten loan processes for technology firms.

The People’s Bank of China highlighted the importance of financial institutions increasing lending by signing more contracts and committing to business investments.

Policies should focus on private enterprises and small to medium-sized enterprises (SMEs), especially those engaging in technological upgrades.

To support this, recommendations include improving loan approval processes, creating tailored loan products for tech startups and SMEs, expanding collateral options, and accelerating credit delivery.