Beijing: Official data released by the Chinese National Financial Regulatory Administration showed that China saw robust growth in the outstanding sum of loans to small and micro companies by the end of 2024 amid government efforts to encourage inclusive financing.
According to Qatar News Agency, the balance of loans issued by banking financial institutions to small and micro firms totaled 81.4 trillion yuan (about 11.4 trillion US dollars) by the end of the fourth quarter (Q4) of last year.
The outstanding loan to small and micro companies with a credit limit of 10 million yuan or less reached 33.3 trillion yuan, surging 14.7 percent year on year, data from the administration showed.