xi's moments

Premier stresses financing for small and micro-sized businesses

By Hu Yongqi | chinadaily.com.cn | Updated: 2018-11-29 17:34


Premier Li Keqiang expressed wishes financing difficulties would be overcome for small and micro-sized businesses during his inspection tour to Jiangsu province on Thursday.

Shortly after landing in the city of Nantong, the premier traveled to the Chongchuan branch of the Bank of Jiangsu. Premier Li enquired about interest rates and how long it takes to open an account onsite for owners of small businesses.

The bank's management said concerted efforts have been made to expand loans for small and micro-sized enterprises while reducing costs. Meanwhile, it has substantially reduced the ratio of non-performing loans.

For seven years, the bank has maintained the biggest volume of loan balances for small businesses and the largest number of such clients in the province.

Li said the bank's experience showed difficulties for small businesses to get financed can be overcome. Small businesses are the leading force in supporting employment, and the market can boom when these businesses are prospering, he said.

The bank's support for small businesses is a way of investing in their own future, Li said.

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