Chinese Bank Loans 1.28 Trillion Yuan to Small Firms

Home>>Business

Last updated at: (Beijing Time) Wednesday, March 06, 2002

Chinese Bank Loans 1.28 Trillion Yuan to Small Firms

By the end of 2001 approximately 1. 28 trillion yuan (about 156 billion US dollars) had been loaned by the Industrial and Commercial Bank of China (ICBC) to small and medium-sized businesses.

DISCUSSION

CHINESE

SEND TO FRIEND

By the end of 2001 approximately 1. 28 trillion yuan (about 156 billion US dollars) had been loaned by the Industrial and Commercial Bank of China (ICBC) to small and medium-sized businesses.

Of that amount, 700 billion yuan was lent last year, 47 percent of the bank's total annual loans, the ICBC spokesman said Wednesday.

Loans granted to small and medium-sized companies accounted for an even larger proportion of the bank's total branch loans in east China, he added.

The ICBC branch in Ningbo, east China's Zhejiang Province, granted 93 percent of all loans to small firms.

The total number of small and medium-sized company clients reached 218,000 last year, which was 95.5 percent of the bank's total company clients, he said.

The ICBC, the largest state-owned commercial bank on the Chinese mainland, has total assets worth nearly 4 trillion yuan.

Questions?Comments? Click here