Loans for individuals,
private firms up by 50% annually: banker
BEIJING, March 11 (Xinhuanet) -- 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 China Banking
Regulatory Commission (CBRC), Thursday.
Liu, along with Zhou Xiaochuan, governor
of the People's Bank of China, 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 China's private
economy is still at its initial stage, the country also
needs risk investment funds to finance private companies,
hi-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, Liucalled for a further improvement
of legal environment for the development of private businesses.
