From The China Daily, via Xinhua – English:
The recent official recognition of the supplementary role played by private finance will give its development a huge boost, but better regulation of the sector is badly needed.
The People’s Bank of China, the country’s central bank, last month called for a correct understanding of private financing’s supplementary role in its latest report on the country’s regional financial operations in 2004.
Private finance is money loaned to businesses by individuals or organizations not associated with State-run banks.
