China to roll out measures to cut smaller firms' financing costs

BEIJING - China will roll out more measures to cut financing costs for smaller companies, state television reported on Wednesday, citing the state council, amid expectations of additional stimulus by Beijing to boost growth.

The state council also said it will ensure a significant increase in credit for the manufacturing sector this year and that there will be a significant increase in bond issuances by financial institutions in order to make loans to smaller companies.

China will maintain prudent monetary policy and keep liquidity reasonably ample, the report said, marking a reiteration of its monetary policy stance.

(Reporting by Beijing Monitoring Desk; writing by Se Young Lee) ((vincentsy.lee@thomsonreuters.com; +86-10-6627-1277; Reuters Messaging: vincentsy.lee.thomsonreuters.com@reuters.net; follow me on Twitter @Rover829))