Half of China's business loans granted to SMEs: survey

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Last updated at: (Beijing Time) Tuesday, September 16, 2003

Half of China's business loans granted to SMEs: survey

The outstanding money loaned by China's financial institutions to small and medium-sized enterprises (SMEs) made up 51.7 percent of the total for all enterprises at the end of June, a survey shows.

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The outstanding money loaned by China's financial institutions to small and medium-sized enterprises (SMEs) made up 51.7 percent of the total for all enterprises at the end of June, a survey shows.

The proportion represents a year-on-year increase of 0.7 percentage points for the SMEs and 18.4 percentage points more than the ratio of the outstanding loans for large enterprises to the total, according to the survey conducted by the People's Bank of China, the central bank, which was released Monday.

In the first six months, loans for SMEs accounted for 98.7 percent of the domestic money collected by the SMEs in total, eclipsing financing in the stock and bond markets.

The central bank made the nationwide survey in August, covering approximately 1,360 financial institutions and some 2,440 small and medium-sized industrial enterprises.

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