Outstanding loans
Source: Xinhua |
January 9, 2013, Wednesday
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Print Edition
Print Edition
CHINESE microcredit companies reported 600 billion yuan (US$96.31 billion) in outstanding loans at the end of last year, up 52 percent year on year, an association head said yesterday. Liu Kegu, director of the China Microfinance Institution Association, said the lending growth rate for this year will be about 37 percentage points higher than that of corresponding bank lending in yuan. New lending in 2012 was equivalent to the amount lent by a medium-sized bank, Liu said at the association's annual meeting. China now has more than 6,000 microcredit firms that provide about 65,000 jobs, Liu said.
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