The main financial state bodies in China publicized a joint statement calling for better financial services in China in order to support the key industrial adjustments and revitalization to restrain the overcapacity in various industries.
The statement by the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission pointed out that they "shall put great effort to adjust and optimize the structure of credit loan, struggle to improve and strengthen the financial service for key and emerging industries, give full play to the financing function of capital market to expand the financing channel for key industrial adjustment and revitalization in multiple ways, boost the annexation and reorganization of enterprises to bolster key industries to implement the strategy of ‘go abroad', and intensify the structure of credits and the pre-warning monitoring of credit loan risks."