Guo Shuqing, Chairman of the China Banking Regulatory Commission, spoke to the media on November 8 after People's Bank of China (PBoC) Governor Yi Gang did the rounds of the media on November 6. Caixin reported that Guo Shuqing, well known as a firebrand who speaks his mind, outlined an ambitious plan which "suggested a goal that no less than 50% of new corporate loans go to private companies in the next three years"; and "at least a third of big banks’ new corporate loans and at least two-thirds of small and medium-sized banks’ new corporate loans should go to the private sector." Separately, Liu Shiyu, Chairman of the China Securities Regulatory Commission, is also trying to step up support and called the chief economists of China’s major brokerages to a meeting and told them to talk favourably about the economy. He said “Chief economists at Chinese brokerage firms should make efforts to guide market expectations and also effectively promote and analyze government policies.” He said “Economists should properly understand, interpret and promote President Xi Jinping’s remarks on supporting private companies.” A statement on the Securities Association of China’s website on November 8, quoted him as saying "The analysts should improve their ability to conduct research and properly use their influence on the public."
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