Tibet Sees Booming Banking Industry in First Half of 2003

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Last updated at: (Beijing Time) Saturday, August 02, 2003

Tibet Sees Booming Banking Industry in First Half of 2003

Financial institutions in the Tibet Autonomous Region, southwest China, have reported booming businessin the first half of this year.

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Financial institutions in the Tibet Autonomous Region, southwest China, have reported booming businessin the first half of this year.

The outstanding amount of bank deposits totaled 29.87 billion yuan (3.61 billion US dollars) by the end of June, up five percentover the beginning of the year. The outstanding amount of loans was 13.5 billion yuan (1.63 billion US dollars), a rise 10.88 percent.

Local financial institutions gave loans totaling 3.56 billion yuan (430 million US dollars) in the January-June period. Repaid loans were 2.15 billion yuan (259 million US dollars), 8.98 million yuan (1.09 million US dollars) more than last year's same period.

The total amount of non-performing loans was 3.08 percentage points lower than that for the beginning of the year.

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