Date
19 October 2017

Regulators urge more lending to small firms, paper says

Chinese regulators have urged financial institutions to lend more to small companies, and a work team has been sent to supervise the implementation of the policy, the Shanghai Securities News reported Thursday, citing unnamed officials. The work team, led by Shang Fulin {尚福林}, chairman of the China Banking Regulatory Commission, will check the policy implementation in 14 provinces and municipalities. The list includes Beijing and Tianjin cities, and Zhejiang, Shandong, Jiangsu and Guangdong provinces. As of the end of September, outstanding loans to small firms reached 17.22 trillion yuan (US$2.8 trillion), accounting for 22.97 percent of the country’s total and marking an increase of 21.5 percent over the same period last year, the report said.

– Contact HKEJ at [email protected]

KZ/AC/RC

 

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