China to boost lending credence for private businesses | MENAFN.COM

Monday, 26 September 2022 07:33 GMT

China to boost lending credence for private businesses


(MENAFN) According to China's leading banking and insurance controller, fresh debts to private businesses totaled roughly USD782 billion during the period from January-October this year.

The statistics by the China Banking and Insurance Regulatory Commission (CBIRC) showed the quantity attributed for 53.5 percent of total fresh business debts in the first ten months to have increased 1.8 percent from the start of the year.

As of September this year, banking financial services had exceptional debts to private businesses totaling USD8.305 trillion, up to USD2,346 trillion from the end of 2018.

The amount of independent enterprises with exceptional debt expanded from USD36.44 million to USD109.4 million during the same time period.

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