Date
11 December 2017

New China bank to target SMEs, paper says

A finance house to be known as China Small and Medium Enterprise Bank is expected to be set up on the mainland in a move to explore innovation in loan products and risk-prevention mechanism for small and medium-sized enterprises (SMEs), China Daily reported Wednesday. An application for its establishment is awaiting approval by the China Banking Regulatory Commission, it said, citing Li Zibin, president of the China Association of Small and Medium Enterprises and the founder of the bank. The bank plans to start operations across the country.

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