Bill financing has become an important financing channel for SMEs, as it is more flexible and affordable, helping to lower the financing costs of private and small companies. Image: iStock

The Politburo of the Communist Party of China convened on Thursday to discuss economic planning for the year ahead, prior to the kick-off of the Central Economic Work Conference, The Paper reported.

The meeting put forward for the first time that China should accelerate reform of the economic system and promote all-around opening up.

The meeting re-established the targets of stabilizing employment, finance, foreign trade and investment which were first proposed by the previous politburo meeting in July, and added one more target — “boosting market confidence.”

The meeting pointed out that it is necessary to stimulate the vitality of small enterprises, improve macro-control, promote steady growth, facilitate reform, upgrade the economic structure, prevent risks and keep economic growth at a reasonable range.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now.