Chinese banks provide more loans to private companies – arabic.china.org.cn

Chinese banks provide more loans to private companies

BEIJING, Aug. 7, 2022 (Xinhua) China has increased lending support to the private sector, according to the top banking and insurance regulator.

Outstanding loans to private enterprises by banking financial institutions reached 58.2 trillion yuan (8.64 trillion U.S. dollars) by the end of June, up 11.4 percent from last year, according to the China Banking and Insurance Regulatory Commission.

New loans to private enterprises accounted for 53.5 percent of total new corporate loans in the first six months, up 0.8 percentage points year on year.

The interest rate on new loans to private enterprises was 4.74 percent in the January-June period, down 0.57 percentage points year on year.