China urges banking, financial institutions to boost support for manufacturing

China's regulators on Tuesday urged banking and financial institutions to have separate credit plans for the manufacturing sector, according to a statement released by the financial regulator.

China will promote more credit resources to support the manufacturing industry, and increase the proportion of medium to long-term loans in the sector, the National Financial Regulatory Administration (NFRA) said.

Insurance funds are encouraged to provide long-term and stable financial support for strategic emerging industries, it added.