China allocates 10b yuan to support inclusive finance

China has allocated a special fund of 10 billion yuan ($1.4 billion) to develop inclusive finance this year, the Ministry of Finance (MOF) said Monday.

The amount was up 29.85 percent from 2017, according to a statement by the MOF.

The special fund has played an important role in supporting lending to rural areas, regions where basic financial services are weak, start-ups and public services, said the MOF.

The MOF said it would further optimize financial services in a more targeted and timely manner to support rural development and small businesses.