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Financial Index of Major Chinese Regions: Zhejiang
Xinhua is releasing dispatches on major economic indicators of ten major Chinese regions in the first three quarters of this year.
The ten regions include Guangdong, Jiangsu, Shandong, Zhejiang, Henan, Liaoning, Shanghai, Beijing, Tianjin, and Chongqing. These provinces and municipalities make up the bulk of the Chinese economy.
Following is the financial situation in Zhejiang, a east China industrial powerhouse, in the first nine months of the year:
Loans extended to major Zhejiang-based industrial enterprises were up by 7.3 percent, a lower growth rate compared with the 16.8- percent rise in their sales revenue.
Loans extended to village and township enterprises were down by 790 million yuan (about 95.18 million U.S. dollars), and those to private businesses were down by 740 million yuan (about 89.16 million U.S. dollars).
Meanwhile, 34.4 percent of the small- and medium-sized enterprises reported a shortage of working capital.
This was attributed to the increasing amount of payables and stockpiled products during the January-September period, which totaled some 142.2 billion yuan (about 17.13 billion U.S. dollars), as well as some 20 million yuan (about 2.41 billion U.S. dollars) of pending drawbacks yet to be paid to exporters.
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