ZCZC
BCN-33
CHINA-BANK-PRIVATE-FIRMS-FINANCING
China Minsheng Bank to facilitate financing for private firms
BEIJING, Nov. 29, 2018 (BSS/Xinhua) – China Minsheng Bank will boost
capital support for private businesses to facilitate high-quality development
of China’s real economy.
“Since the beginning of this year, the bank’s new public loans have reached
150 billion yuan (21.6 billion U.S. dollars) and over 75 percent of the
amount has been used to support private firms,” said the bank chairman, Hong
Qi.
Hong said the bank has prepared credit quota of 30 billion yuan in the
fourth quarter to specifically support loans and financing activities to
strategic private enterprises.
“For those private enterprises with liquidity difficulties but promising
prospects, the bank has helped them survive the credit crunch with innovative
services and products,” said Hong.
Hong said the bank had been boosting credit support for small and micro
enterprises since 2008 when it started financing services for such firms.
The bank has extended more than 6 trillion yuan worth of loans to small and
micro businesses over the past 10 years.
In the future, the bank pledges to improve its operational efficiency,
optimize credit services and enhance risk control capabilities to better
facilitate financing for the private sector.
BSS/XINHUA/HR/1455