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China Minsheng Bank steers loans to private businesses

2019-10-19 10:48

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BEIJING, Oct. 19 (Xinhua) -- China Minsheng Bank had reported 1.5 trillion yuan (about 212 billion U.S. dollars) worth of outstanding loans to private businesses by the end of September, according to data from the bank.

The figure accounted for more than 70 percent of the bank's total loan as it serves around 240,000 private firms, said Zheng Wanchun, president of the bank.

Medium and long-term loans to private firms reached nearly 800 billion yuan in the first three quarters, up 20 percent year on year.

Newly added loans to private companies in the strategic and emerging sectors went up 60 percent in the period, according to Zheng.
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