Shanghai´s measures to back micro enterprises
(WorldNews Entertainment)

The Shanghai city administration has come out with a series of measures this month to facilitate privately owned enterprises. It will grant at least 10 billion yuan ($1.4 billion) as loans to small and micro enterprises in strategic sectors. Every year, the rediscount amount provided to private enterprises and technology companies should be more than 15 billion yuan. Rediscount is the act of discounting a short-term negotiable debt instrument for a second time. Sometimes, banks may rediscount short-term debt securities to assist the movement of a market that has a high demand for loans. Credit and secured loans up to 20 billion yuan will be provided to eligible private enterprises. Starting...