xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

maritime silk road search
Macro-economy

Inclusive finance service benefits small enterprises

April 29, 2019


Abstract : China Construction Bank's branch in Ningxia Hui Autonomous Region has rolled out a new inclusive finance service to give loans to small enterprises if they pay their electricity bills on time.

YINCHUAN, April 28 (Xinhua) -- China Construction Bank's branch in Ningxia Hui Autonomous Region has rolled out a new inclusive finance service to give loans to small enterprises if they pay their electricity bills on time.

The service is available to small enterprises which have existed for two years or more. Their electricity bills must be over 100,000 yuan (14,900 U.S. dollars) and the bills must have been paid on time.

Its maturity is one year with an annual interest rate of 5 percent.

The bank launched the service along with the State Grid's Ningxia branch and the corporation's e-commerce platform.

The electricity bills are sufficient evidence of whether a company is performing well. It can be taken as a real, timely and consistent indicator of a company's operations, said Jiang Hao, chief accountant of the State Grid E-commerce Co. Ltd.

"The service's target customers are micro, small and medium-sized enterprises. They can use their good credit records as shown by electricity bills to solve financing problems," Jiang said.

A company in Ningxia that makes polysilicon material has received a 1 million yuan loan from the service, he said.

China's inclusive finance covers services offered by financial institutions to micro-businesses, farmers, those on low-incomes, the disabled and senior citizens.

The loan balance of the inclusive finance sector stood at 13.39 trillion yuan at the end of 2018, up 13.8 percent year on year.

Scan the QR code and push it to your mobile phone

Keyword: financial cooperation finance

Reading:

Commentary: Upcoming Beijing horticultural expo opens door to greener future

Luzhou Laojiao expands presence in Southeast Asia and Africa

China's central bank actively promotes third-party cooperation under BRI

Belt and Road forum builds consensus on green, sustainable development

Interview: Beijing horticultural expo to boost global business: Kyrgyz minister of agriculture

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial