Central bank urged to help less rich regions to progress

China's central bank is encouraging the establishment of private banks in less developed areas to drive an inclusive business finance drive, the bank's chief said on Monday.

Zhou Xiaochuan, governor of the People's Bank of China, cited a series of measures to quench small businesses' thirst for capital as part of the inclusive business finance endeavor, in an article published in Qiushi Journal, a political periodical run by the Central Committee of the Communist Party of China.

The establishment of private banks is an important step to support small businesses overlooked by State-owned banks, said Zhou, thereby diversifying the financing channels for small players.