Off the wire
• Al-Shabaab jihadists attack Somali army base  • Spotlight: Chinese president's Middle East tour goes far beyond oil  • Thor star Chris Hemsworth to be face of Australian tourism  • 1st Ld-Writethru: China's Haier buys GE Appliances  • HK to set up comic attractions to woo tourists  • 1st LD Writethru: Sierra Leone reports new Ebola case  • Urgent: Road accident kills 11 in Indian-controlled Kashmir  • 1st LD-Writethru: Chinese stocks plunge on weak lending data  • Budget airline links Tianjin, Bangkok  • Myanmar to tighten security during 2 int'l sporting events in Yangon  
You are here: 　 Home

Chinese banks lending more to small businesses

Xinhua, January 15, 2016 Adjust font size:

Chinese banks extended more loans to small and rural businesses in 2015, official data showed on Friday.

Outstanding loans to small businesses reached 23.46 trillion yuan (3.56 trillion U.S. dollars) last year, according to figures from the China Banking Regulatory Commission (CBRC).

That represented an increase of 13.3 percent from a year earlier and accounted for 23.9 percent of all outstanding loans.

Outstanding loans to the rural sector rose 11.9 percent year on year to 26.04 trillion yuan as of the end of November, the CBRC said.

Chinese authorities have encouraged banks to support the development of small businesses, which have difficulty accessing bank loans.

The CBRC said it has implemented differential regulatory policies to improve the coverage of loans for small businesses and reduce their financing costs. Endi