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Agricultural Development Bank of China
Local

Xinjiang sees surging new loans in H1

July 28, 2020


Abstract : Northwest China's Xinjiang Uygur Autonomous Region saw a total of 136.84 billion yuan (about 19.54 billion U.S. dollars) in new loans in the first half of this year (H1), up 67.27 billion yuan year on year, which is the highest growth in the past decade, official data shows.

URUMQI, July 27 (Xinhua) -- Northwest China's Xinjiang Uygur Autonomous Region saw a total of 136.84 billion yuan (about 19.54 billion U.S. dollars) in new loans in the first half of this year (H1), up 67.27 billion yuan year on year, which is the highest growth in the past decade, official data shows.

The balance of loans in Xinjiang reached 2.19 trillion yuan during the same period, an increase of 11.8 percent year on year, according to the Urumqi central sub-branch of the People's Bank of China.

In H1, new loans to Xinjiang's agrilculture-related sector totaled 52.17 billion yuan, 12.8 billion yuan more than the total new loans in the sector last year. New loans to small and micro enterprises reached 62 billion yuan, more than last year's total as well.

Data also shows that at the end of June, the balance of loans to the agriculture-related sector rose 11.1 percent year on year to 808.51 billion yuan, while that of small and micro enterprises was 416.73 billion yuan, up 34.2 percent.

The Urumqi sub-branch of the People's Bank of China used a variety of tools in H1 to guide commercial banks to boost loan support in a bid to facilitate epidemic prevention and control as well as work and production resumption. Enditem

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Keyword: loans Xinjiang

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