West China to Get More Government Loans

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Last updated at: (Beijing Time) Saturday, March 02, 2002

West China to Get More Government Loans

China will increase loans to three provinces and an autonomous region in western China by 92 billion yuan this year to boost their economic growth.

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China will increase loans to three provinces and an autonomous region in western China by 92 billion yuan this year to boost their economic growth.

The recipients are Yunnan, Sichuan and Guizhou provinces and the Tibet Autonomous Region, which are targeted by the central bank for wide-ranging support in an ambitious regional development program.

The loans issued by the country's commercial banks to the four regions will be increased by 54 billion yuan.

Outlining new features of central bank's support to the four western regions this year, Wang Hongzhang, director of the ChengduBranch of the People's Bank of China, said priority will be given to pillar trades, key enterprises and key projects.

Other major aspects include industrialization of agriculture, small and medium-sized technology-intensive enterprises, foreign trade and areas inhabited by ethnic groups, he added.

Statistics showed the central bank provided 79.3 billion yuan in loan to the four regions last year.

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