China moves to make financing easier for small businesses
Release time:2024-05-07 21:42:18
BEIJING, April 10 (Xinhua) -- China has stepped up efforts to tackle the financing difficulties of s 。
BEIJING, April 10 (Xinhua) -- China has stepped up efforts to tackle the financing difficulties of small businesses, accelerating the pace at which it is building credit services platforms. Li Chunlin, deputy director of the National Development and Reform Commission, on Wednesday told a press conference that the country has established an integrated financing credit services system that provides financial institutions with business information that is registered on any local or national platform. The system has helped meet the financing demand of money-starved micro, small and medium-sized enterprises, which generally face difficulties securing bank loans due to their lack of collateral and credit data. At the end of February, Chinese banks had issued 25.1 trillion yuan (3.54 trillion U.S. dollars) in loans through the financing credit services system, including 5.9 trillion yuan in credit loans. Recently, the State Council issued a plan to strengthen the construction of financing credit services platforms. Per the plan, work will be done to improve China’s credit information collection and sharing mechanism, optimize the national integrated network, integrate local platforms with repetitive functions or inefficient operations into that network, and ensure favorable financial policies reach more small firms. Ren Yongmei, an official of the People's Bank of China, said that the central bank will improve its financial credit database and make better use of credit data to raise financing convenience for micro, small and medium-sized enterprises. By March, outstanding inclusive loans issued to micro and small enterprises in China totaled 31.4 trillion yuan, up 21.1 percent year on year and with a growth rate 12 percentage points higher than that of all loans.
(Editor:Liao Yifan)
Related articles
Bernie Sanders campaigns for Biden while raising concerns about Gaza
WASHINGTON (AP) — In April, Bernie Sanders repeatedly stood shoulder to shoulder with President Joe2024-05-07Compromised stopbanks pose ongoing risk for Spring Creek residents
Spring Creek residents were told to be prepared to evacuate on Friday morning if the Wairau River re2024-05-07- A look at the best news photos from around the world.2024-05-07
VOX POPULI: Vertical writing an indispensable part of thinking in Japanese
When you picture a timeline of Japanese history, which side is the Jomon Pottery Culture Period (c.2024-05-07Tampa Bay Rays reinstate outfielder Josh Lowe from the 10
ST. PETERSBURG, Fla. (AP) — The Tampa Bay Rays reinstated outfielder Josh Lowe from the 10-day injur2024-05-07China warns 'military fans' they could face prison for posting photos online
Your web browser is no longer supported. To improve your experience update it here2024-05-07
atest comment