Loans to small businesses rise in china in 2014
China Central Bank
Beijing - QNA
The outstanding loans extended to small and micro businesses in China rose by 3.08 trillion yuan ($500 billion) from the start of 2014 to hit 20.7 trillion yuan by the year end, China Banking Regulatory Commission said.
The loans to small and micro businesses accounted for 23.85% of the country's total loans, according to the statement carried by Chinese news agency (Xinhua), adding that the growth rate of such loans exceeded the average rate of all loans nationwide by 4.2 percentage points.
The loans were shared among 11.446 million small and micro firms, up 9% from the same period in 2013.
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