Tu urges banks on small firm loans
By Hu Xiaocen |
August 23, 2012, Thursday
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Print Edition
Print Edition
SHANGHAI Vice Mayor Tu Guangshao yesterday encouraged lenders in the city to increase their tolerance for slight rise in bad loans from lending to micro and small businesses.
Tu also shed light on the city government's stimulus policies that reward and subsidize commercial banks that provide small credits to cash-strapped micro and small companies in the city. "The extra 1 billion yuan (US$157.8 million) provided by the government to encourage lending for micro and small enterprises will be used in two ways. First, to reward banks in Shanghai which achieve outstanding performance in the area this year. Second, to help the lenders with risk premium for extending riskier small loans," he said.
Tu also shed light on the city government's stimulus policies that reward and subsidize commercial banks that provide small credits to cash-strapped micro and small companies in the city. "The extra 1 billion yuan (US$157.8 million) provided by the government to encourage lending for micro and small enterprises will be used in two ways. First, to reward banks in Shanghai which achieve outstanding performance in the area this year. Second, to help the lenders with risk premium for extending riskier small loans," he said.
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