CCTV.com - CNTV English - CCTV News

China's banking regulator reiterates support for small business

04-10-2012 09:06 BJT

BEIJING, April 9 (Xinhua) -- China's top banking regulator Monday requested financial institutions put in place the differentiated credit policy to boost cash-strapped small businesses.

The China Banking Regulatory Commission (CBRC) will set up more small-scale financial institutions to serve more micro-sized companies, said CBRC Chairman Shang Fulin at a meeting.

He reiterated efforts must be made to ensure that the growth rate of the credit for the small business should not drop lower than that of the bank's average level. Also Shang said the incremental volume of the credit should be no less than the same period a year ago.

CBRC unveiled the two targets in 2008 to encourage banks to increase support to the fund-thirsty small enterprises, despite the central bank's order to tighten lending to other types of business to fight against inflation in the following years.

The outstanding loans to small companies totaled 10.8 trillion yuan (1.71 trillion U.S. dollars) by the end of 2011, or one-fifth of the total, as CBRC's targets were met in the following three years.

Also by the end of 2011, the non-performing loan stood at 2.11 trillion yuan, 435 million yuan less than that of the beginning of 2011. The non-performing ratio was 2.02 percent, 0.95 percentage points lower than the year beginning.

Editor:Wang Lingfei |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program