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Chinese banks' loans to small business rise

Xinhua, January 22, 2016 Adjust font size:

Chinese banks' loans to small businesses increased last year as government policy continued to support such firms to generate jobs and growth, the central bank said on Friday.

Outstanding loans extended to small businesses in China rose by 13.9 percent year on year to 17.39 trillion yuan (2.6 trillion U.S. dollars), according to the People's Bank of China (PBOC).

The pace was 2.7 and 5.3 percentage points higher than the growth rate of loans received last year by large- and mid-sized businesses.

The loans to small businesses accounted for 31.2 percent of China's total loans to enterprises in 2015, up 0.8 percentage points from 2014, the PBOC said. Endi