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Loans to SMEs account for 51.9% in 2008
By Zhang Ran (chinadaily.com.cn)
Updated: 2009-03-06 14:10 Lending to small- and medium-sized enterprises (SMEs) accounted for 51.9 percent of the total loans to enterprises in 2008, Zhou Xiaochuan, governor of the central bank, said on Friday at a press conference during the 2nd Session of the 11th National People's Congress.
"Increased financing for commercial bills has helped to fund SMEs greatly," he noted. Chinese banks issued 1.62 trillion yuan in new loans in January, up 101 percent year-on-year, the central bank said on Feb 12. Commercial bill financing was 620 billion yuan, accounting for 38 percent of the total new loans. (For more biz stories, please visit Industries)
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