皇冠体育app

Loans for individuals, private firms up by 50% annually
(Xinhua)
Updated: 2004-03-11 15:09

Loans to individuals and private companies from Chinese banks have been increasing by an annual average of 50 percent in recent years and the quality of these loans are good in general, said Liu Mingkang, president of the 皇冠体育app Banking Regulatory Commission , Thursday.

Liu, along with Zhou Xiaochuan, governor of the People's Bank of 皇冠体育app, met a group of Chinese and overseas journalists at a press conference on the sideline of the current parliament session.

Liu pledged at the press conference that the country's banking industry will continue supporting the private sector.

As the development of 皇冠体育app's private economy is still at its initial stage, the country also needs risk investment funds to finance private companies, high-tech ones in particular, the official noted.

While urging commercial banks to listen more to these private clients to learn about their demands and find potential risks, Liu called for a further improvement of legal environment for the development of private businesses.

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