SCIO briefing on operations and performance of the banking and insurance sectors in the first quarter of 2020
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E-mail China.org.cn, April 23, 2020
Hong Kong Economic Herald:
What measures will be taken to deal with small and micro businesses that lack credit records but want to get a loan for the first time?
Huang Hong:
Thank you. Mr. Xiao will answer your question.
Xiao Yuanqi:
We attach great importance to this matter. The China Banking and Insurance Regulatory Commission (CBIRC) has done a great deal to provide inclusive financial support to small and micro-enterprises. Currently, there are indeed still some small and micro businesses, especially micro-enterprises and individually-owned businesses, who have not obtained credit support or bank loans. The reasons for this are multifaceted. Some enterprises don't meet the loan requirements and some don't have access to the service. We have been stepping up measures to ensure that small and micro enterprises get loans. In particular, we will strengthen services for small and micro enterprises that haven't obtained their first loans yet to fulfill loan demand and raise the first loan ratio.
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