Current location:Global Gateway news portal > style
China moves to make financing easier for small businesses
Global Gateway news portal2024-05-21 16:01:34【style】2People have gathered around
IntroductionStaff members work at a chestnut processing workshop in Zunhua, north China's Hebei Province, Ma
Staff members work at a chestnut processing workshop in Zunhua, north China's Hebei Province, March 14, 2024. [Photo/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.
Address of this article:http://namibia.spaceforanything.com/news-70f799860.html
Very good!(381)
Related articles
- Jessica Biel CHOPS her long locks into a bob after book signing in Studio City
- Juro Kara, rebel playwright behind Japan's modern underground theater, dies at 84
- Taylor Pendrith leads Byron Nelson as one of several seeking first PGA Tour victory
- Rays beat Mets 3
- Hollywood star Shia LaBeouf is spotted on the streets of Gavin and Stacey's hometown Barry
- Channing Tatum brands ex
- Michael Irvin 'out at NFL Network' as ex
- I didn't want Hugh Grant to be in Four Weddings and a Funeral, writer Richard Curtis admits
- Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
- Kyle Larson eyes Indy 500
Popular articles
- Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
- Las Vegas Aces further solidify roster beyond this season by signing All
- Uganda urges Britain to stop meddling in domestic affairs after sanctions
- Ohtani gifts Roberts a toy Porsche before breaking club mark for most HRs by a Japanese
Recommended
Rangers are undefeated at .500 to keep World Series champs from a losing record with Bochy
Massachusetts woman wins $1m lottery jackpot twice in 10 weeks
Putin begins a new era of extraordinary power in Russia
Massachusetts woman wins $1m lottery jackpot twice in 10 weeks
Who is Jacob Zuma, the former South African president disqualified from next week's election?
Prince Harry's new meeting with King Charles shows a thaw in frosty relations, royal experts say
In Botswana, 44 victims of an Easter bus crash in South Africa are laid to rest
Missouri man charged in 1966 killing in suburban Chicago, based on DNA evidence
Links
- Interview: Racism, abuse of weapons fuel gun violence in U.S. society, says Egyptian expert
- Thousands protest in Niger demanding withdrawal of U.S. troops
- Xi affirms nation's commitment to future of humanity
- China's industrial recovery gaining steam despite profits dip
- Ndosho Hospital struggles to cope with influx of patients amid armed conflicts
- Airshow China kicks off in port city Zhuhai
- South Africa sees over 1 mln travelers during Easter holiday
- Mainland's adjustment to Straits flight route serves aviation safety
- 15 killed in road accident in central Ethiopia
- Update: China unveils Shenzhou