China considers banks for small businesses
Tuesday, 5 August 2008
SHANGHAI, Aug 4 (AFP): China is considering establishing state-backed banks focused on lending to small and medium-sized businesses to help boost economic growth, state media reported today.
The proposal aims to help capital-hungry small and medium-sized firms through hard times and allow them to secure long-term financing, Guangzhou Daily reported, citing national development and reform commission officials.
China's growing number of small and medium-sized private businesses have found it difficult to obtain bank loans because of a lack of collateral and credit records.
The proposal aims to help capital-hungry small and medium-sized firms through hard times and allow them to secure long-term financing, Guangzhou Daily reported, citing national development and reform commission officials.
China's growing number of small and medium-sized private businesses have found it difficult to obtain bank loans because of a lack of collateral and credit records.