(MENAFN) China's top banking and insurance regulator said that the Chinese outstanding loans to private companies came in at 5.4 trillion yuan (around USD834.9 billion) at the end of March.
The China Banking and Insurance Regulatory Commission (CBIRC) stated this indicated a 29 percent rise in comparison with the very period of 2020.
It noted that authorities' move to foster loans to individual companies has offered solid financial support for the revival and development of private companies.
Figures from the CBIRC demonstrate that the average rate of interest charged on loans to private firms was 6.2 percent by the end of March, a decrease by 1.3 percentage points from 2019.
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