CBIRC: inclusive loans for small and micro enterprises increased by 25.93%

The State Council Information Office held a press conference today on the operation and development of the banking and insurance industry in the first quarter.
Huang Hong, vice chairman of the China Banking and Insurance Regulatory Commission, said that inclusive loans for small and micro enterprises increased by 25.93% year-on-year at the end of the first quarter.

The State Council Information Office held a press conference today on the operation and development of the banking and insurance industry in the first quarter.

Huang Hong, vice chairman of the China Banking and Insurance Regulatory Commission, said that inclusive loans for small and micro enterprises increased by 25.93% year-on-year at the end of the first quarter.

The five largest banks newly issued inclusive loans for small and micro enterprise with interest rates of 4.3%, a further decrease of 0.3 percentage points on the basis of 2019.

They strive to increase credit loans, and in the first quarter, credit loans issued to enterprises, merchants and individual operators increased by 2.5 trillion yuan, which was close to double that of the same period last year.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/23/cbirc-inclusive-loans-for-small-and-micro-enterprises-increased-by-25-93/.

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