Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
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

My Favorite China's Brands
Economy

Outstanding loans to private companies rise 5.8 pct

July 08, 2019


Abstract : Outstanding loans by Chinese financial institutions to private businesses stood at 40 trillion yuan (about 5.9 trillion U.S. dollars) at the end of May, according to an official with China's top banking regulator.

BEIJING, July 7 (Xinhua) -- Outstanding loans by Chinese financial institutions to private businesses stood at 40 trillion yuan (about 5.9 trillion U.S. dollars) at the end of May, according to an official with China's top banking regulator.

This marked a 5.8 percent increase from the start of the year, said Yang Liping, with China Banking and Insurance Regulatory Commission (CBIRC).

Loans to private companies accounted for 51.48 percent of the country's total new corporate loans during the first five months.

With authorities encouraging loans to private businesses especially small companies to help shore up the economy, the growth rate of such loans has accelerated in recent years and lending rates kept falling.

The rate of interest charged on loans to private companies was 5.98 percent during the first five months, down 0.92 percentage points from 2018. Lending rates of loans to small and micro businesses fell to 6.89 percent, down 0.5 percentage points from last year.

China will continue to deepen financial supply-side structural reform and improve the policy environment to provide higher-quality and more effective financial services to small enterprises, according to a white paper released by the CBIRC earlier in late June.

Scan the QR code and push it to your mobile phone

Keyword: loans china-economy

Reading:

Eastern China city inscribed on UNESCO's World Heritage List

China-Europe aviation logistics helps BRI go deeper

Garbage sorting generates high-paying jobs: agency

Haier Europe sticks to localization strategy, advancing implementation of BRI

Second Belt & Road conference for Chinese, Italian enterprises held in Milan, Italy

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.

Identifying code 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 silkroadweekly@xinhua.org 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