Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Call for more loans to back rural areas
By Winny Wang |
March 10, 2009, Tuesday
|
Print Edition
Print Edition
THIRTEEN domestic lenders, including the Agricultural Bank of China and the Bank of Shanghai, yesterday agreed to lend 65 billion yuan (US$9.5 billion) to support Shanghai's rural economy against the backdrop of a global economic downturn.
The loans will be used in infrastructure projects such as railways, renovating houses and boosting the rural cooperative medical system.
"Financial support is crucial for Shanghai to achieve its target of a 9-percent growth in gross domestic product," said Vice Mayor Tu Guangshao at the signing ceremony yesterday.
He also urged more small-credit firms and village banks to support small businesses, especially in rural areas.
Shanghai has approved the formation of 27 small-credit companies, 17 of which have already started operations.
The city will help these firms to develop their lending system and implement preferential policies to help the industry.
Last month, Chongming County welcomed the city's first village bank which can issue loans within five days for small businesses and three days for rural entities. Shanghai Pudong Development Bank and China Minsheng Banking Corp are also expected to open their outlets in rural areas this year.
Tu also called for more sources of financial support such as private equity and venture capital, and he said the city is preparing for an over-the-counter market which can be another channel for PE and VC.
"As the Shenzhen Stock Exchange prepares for the launch of a growth enterprise board, Shanghai has also applied to set up an over-the-counter stock exchange to serve the Yangtze River Delta region," Tu said.
The loans will be used in infrastructure projects such as railways, renovating houses and boosting the rural cooperative medical system.
"Financial support is crucial for Shanghai to achieve its target of a 9-percent growth in gross domestic product," said Vice Mayor Tu Guangshao at the signing ceremony yesterday.
He also urged more small-credit firms and village banks to support small businesses, especially in rural areas.
Shanghai has approved the formation of 27 small-credit companies, 17 of which have already started operations.
The city will help these firms to develop their lending system and implement preferential policies to help the industry.
Last month, Chongming County welcomed the city's first village bank which can issue loans within five days for small businesses and three days for rural entities. Shanghai Pudong Development Bank and China Minsheng Banking Corp are also expected to open their outlets in rural areas this year.
Tu also called for more sources of financial support such as private equity and venture capital, and he said the city is preparing for an over-the-counter market which can be another channel for PE and VC.
"As the Shenzhen Stock Exchange prepares for the launch of a growth enterprise board, Shanghai has also applied to set up an over-the-counter stock exchange to serve the Yangtze River Delta region," Tu said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
