Che Jun (second left), Party chief of Zhejiang province, inspects the Tailong Commercial Bank. [Photo/zjnews.zjol.com]

"All departments and financial institutions should strengthen reform and improve financing for private and small and medium sized enterprises (SMEs) in order to ensure the high-quality economic development of our province," said Che Jun, Party chief of Zhejiang, on his recent inspection tour of several financial institutions in the province.

Che inspected the Hangzhou Financing Guarantee Company, the Agriculture Bank Zhejiang Branch and the Tailong Commercial Bank. He said he appreciated their efforts to expand financing channels and reduce financing costs for SMEs, and expressed hope that they will strengthen contact with these enterprises and seek to innovate business models.

Che added that finance is very important for the development of the real economy and pointed out a significant increase in the province's aggregate financing this year, as well as a remarkable improvement to the financing structure and a continuous decrease in financing cost, thanks to government-bank-enterprise coordination and province-city-county coordination. 

Che also urged all departments and financial institutions to seek support from the central bank and major national banks, improve comprehensive financial services, increase financing to manufacturing, agriculture, and small and micro enterprises, and guard against financial risk.