Busy year for local bank watchdog
By Louise Ho |
January 20, 2012, Friday
|
Print Edition
Print Edition
THE priorities of Shanghai's banking regulator this year are to ensure small businesses have adequate access to loans, retail customers are better protected and banks have sufficient risk controls.
The Shanghai Bureau of the China Banking Regulatory Commission yesterday urged banks in the city to improve services they provide to small business.
The Shanghai banking regulator also called for banks to strengthen regulation on service charge to better protect the rights of consumers.
Shanghai banks are also advised by the regulator to ensure they are able to detect risks early.
The regulator stressed that the banks have to achieve dual targets of ensuring that growth in loans to small enterprises should not be lower than the industry average and that they should grant more such loans this year than in 2011.
"Banks are encouraged to open branches that specialize in serving small enterprises," the local regulator said.
A recent survey released by the All-China Federation of Industry and Commerce earlier this week disclosed that 80 percent of small business found it hard to get loans from the banks after the government imposed tighter monetary policies to curb credit.
After the China Banking Regulatory Commission called for banks to increase lending to small business in 2010, some of them have started issuing bonds to support the development of small business.
China Minsheng Bank issued 50 billion yuan (US$7.92 billion) of such bonds to small enterprises last year.
China Merchants Bank also announced on Tuesday that it would issue not more than 20 billion yuan in bonds. The proceeds raised from the issue will be offered as loans to small businesses.
The Shanghai Bureau of the China Banking Regulatory Commission yesterday urged banks in the city to improve services they provide to small business.
The Shanghai banking regulator also called for banks to strengthen regulation on service charge to better protect the rights of consumers.
Shanghai banks are also advised by the regulator to ensure they are able to detect risks early.
The regulator stressed that the banks have to achieve dual targets of ensuring that growth in loans to small enterprises should not be lower than the industry average and that they should grant more such loans this year than in 2011.
"Banks are encouraged to open branches that specialize in serving small enterprises," the local regulator said.
A recent survey released by the All-China Federation of Industry and Commerce earlier this week disclosed that 80 percent of small business found it hard to get loans from the banks after the government imposed tighter monetary policies to curb credit.
After the China Banking Regulatory Commission called for banks to increase lending to small business in 2010, some of them have started issuing bonds to support the development of small business.
China Minsheng Bank issued 50 billion yuan (US$7.92 billion) of such bonds to small enterprises last year.
China Merchants Bank also announced on Tuesday that it would issue not more than 20 billion yuan in bonds. The proceeds raised from the issue will be offered as loans to small businesses.
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