China's Inclusive Loans To Small Businesses Grow In January
Date
2/24/2024 3:09:25 PM
(MENAFN- AzerNews) China's inclusive loans to micro and small enterprises
registered an increase in January as the country steps up financial
support for the real economy, official data showed, Azernews reports, citing Xinhua.
As of the end of January, outstanding inclusive loans extended
to small and micro businesses rose 24.41 percent from a year ago to
29.91 trillion yuan (about 4.21 trillion U.S. dollars), according
to data from the National financial Regulatory Administration
(NFRA).
The figure was up 850 billion yuan compared to the start of
2024, the NFRA said.
The share of credit loans in inclusive loans to small and micro
businesses has gone up in recent years. Data showed that
outstanding credit loans stood at 7.35 trillion yuan last month,
surging 48.96 percent year on year.
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