Concern over small lendings
Source: Xinhua |
February 24, 2010, Wednesday
|
Print Edition
Print Edition
ACCESS to finance for China's small enterprises generally improved in 2009, but was still not good enough, the country's top banking regulator said yesterday.
Outstanding loans to small enterprises added up to 5.8 trillion yuan (US$849 billion) as of the end of 2009, the China Banking Regulatory Commission said.
That was 22 percent of total corporate loans by the end of last year, 1 percentage point higher than a year ago, the CBRC said.
Its data showed that the growth rate of new loans to small enterprises in 2009 was 5.5 percentage points higher than that of the total corporate lendings and 0.61 percentage points higher than all lendings.
China has set a target of keeping the growth rate of new small business loans higher than that of all loans in 2010, and the amount of new loans should be bigger than the previous year, the CBRC said.
Small enterprises are those with assets worth less than 10 million yuan or annual sales below 30 million yuan.
In December, China promised to help improve financing mechanisms to help small and medium enterprises.
Outstanding loans to small enterprises added up to 5.8 trillion yuan (US$849 billion) as of the end of 2009, the China Banking Regulatory Commission said.
That was 22 percent of total corporate loans by the end of last year, 1 percentage point higher than a year ago, the CBRC said.
Its data showed that the growth rate of new loans to small enterprises in 2009 was 5.5 percentage points higher than that of the total corporate lendings and 0.61 percentage points higher than all lendings.
China has set a target of keeping the growth rate of new small business loans higher than that of all loans in 2010, and the amount of new loans should be bigger than the previous year, the CBRC said.
Small enterprises are those with assets worth less than 10 million yuan or annual sales below 30 million yuan.
In December, China promised to help improve financing mechanisms to help small and medium enterprises.
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