US$10.2b Loans Granted

Source: Xinhua | June 8, 2009, Monday |

Print Edition

THE Postal Savings Bank of China has given 70 billion yuan (US$10.2 billion) in credit to small and medium-sized firms since it started giving small loans last June, its governor, Tao Liming, said yesterday.

The PSBC lent an average of 300 million yuan to 400 million yuan daily to these firms, and total credit was expected to exceed 100 billion yuan at the end of this year, said Tao.

Its small loan program was launched in Henan Province last June. The maximum loan for small firms is 100,000 yuan, and 3 million yuan for medium-sized companies.

Finance

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US$10.2b Loans Granted

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