(MENAFN)China's outstanding credits to individual businesses hit 5.4 trillion yuan (about USD834.9 billion) at the end of March, according to China's top banking and insurance watchdog.
This marked a 29 percent upsurge compared with the same period in 2020, added the China Banking and Insurance Regulatory Commission (CBIRC).
Authorities' move to support credits to individual businesses has offered firm fiscal support for the revival and improvement of individual businesses, it added.
The average rate of interest charged on credits to individual firms was 6.2 percent by the end of March, dropped 1.3 percentage points from 2019, statistics from the CBIRC reveal.
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