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China's inclusive loans to small businesses grow in January

24 February 2024 23:50 (UTC+04:00)
China's inclusive loans to small businesses grow in January

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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