China's central bank said on Thursday that it will expand pilot programs of securitization of credit assets and offer more support to small- and middle-sized enterprises (SMEs), Shanghai Securities News said.

According to the paper, People's Bank of China said it will step up to develop securitization of credit assets, which will ease capital adequacy stress and transform loans into direct financing.

The central bank is also currently assessing implementation plans to support SMEs.

However, the paper added that the progress of securitization will not be quick and the strength of support to SMEs will be limited in the mean time, citing an official from the central bank.

Private lending to SMEs played an important role in the first half of this year, the official added.