Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
ICBC to ensure 15% small firm loan growth
Adjust font size:

The Industrial and Commercial Bank of China (ICBC), the country's largest commercial lender, pledged on Thursday its loans for small companies would grow by more than 15 percent in the coming three years.

The ICBC did not specify the loan growth rate in this sector for each year from 2009 to 2011.

Figures from the Beijing-based bank revealed loans for small companies reached 282 billion yuan (41.2 billion U.S. dollars) from January to October this year, up 9.8 percent year on year.

By the end of this September, the total amount of small company clients topped 47,274 in the ICBC, accounting for 55 percent of the bank's total clients.

Financing difficulty has long been a bottleneck to Chinese small companies. Some of them were also hit hard by the global financial crisis, as they weren't prepared to handle external risks.

China's State Council, or the Cabinet, said last Wednesday it would adopt more favorable policies so as to encourage the country's commercial banks to grant more loans for supporting economic growth and give better finance services to small and medium-sized companies.

(Xinhua News Agency December 11, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- ICBC set to write down Iceland bonds
- ICBC posted 46% nine-month profit rise

Dec. 12 Beijing Caijing Annual Conference 2009
Dec. 13-14 Guangzhou Enterprise Development Forum
Dec. 20-21 Beijing 7th China Import & Export Enterprises Conference(CIEEC)

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?