China moves to make financing easier for small businesses
Release time：2024-05-21 11:25:14 Source：Global Grooves news portal
-
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）
- Previous：Amtrak train hits pickup truck in upstate New York, 3 dead including child
- Next：The government wants to buy their flood
Related articles
- Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
- EU proposes youth mobility agreement with UK to help youngsters travel, work and live in both areas
- J.K. Dobbins signs with Chargers, continuing the trend of former Ravens heading to LA
- Former Wisconsin Democratic Rep. Peter Barca announces new bid for Congress
- Jon Wysocki dead at 53: Staind drummer passes away
- Liquor sales in movie theaters, to
- Workers at Mercedes factories near Tuscaloosa, Alabama, to vote in May on United Auto Workers union
- 250,000 Afghan children need education, food and homes after returning from Pakistan, says NGO
- Why US Catholics are planning pilgrimages in communities across the nation
- Musicians pay tribute to Allman Brothers guitarist Dickey Betts after death at 80
- Shohei Ohtani's first walk
- The Titans go into the NFL draft flexible at No. 7 with lots of needs to fill
- Rap artist GloRilla has been charged with drunken driving in Georgia
- Average long
- Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
- Fire in truck carrying lithium ion batteries leads to 3
- Musicians pay tribute to Allman Brothers guitarist Dickey Betts after death at 80
- An earthquake measuring 5.6 hits central Turkey. No immediate reports of casualties or damage
- Kate Hudson hits the stage to debut songs from her new album Glorious at star
- Armenian victims group ask International Criminal Court to investigate genocide claim
Random recommendation
China's commercial CERESCompany in N China's Shanxi advances in developing ultraTechnical, technological measures facilitate restoration of seagrass bedsInside Lily James' idyllic childhood as the daughter of a musician and actressCutter Gauthier, the NCAA's leading scorer, signs 3World Internet SciDetectives solve 1968 killing of World War II veteran who became milkman, Florida sheriff saysOti Mabuse shares 'sad' update as Saturday Night Takeaway comes to an end after 22 years on screensShirley MacLaine has a laugh with friends while enjoying lunch in MalibuTechnical, technological measures facilitate restoration of seagrass beds
- Copyright © 2024 Powered by China moves to make financing easier for small businesses ,Global Grooves news portal sitemap