Yichang banks dish out a fistful of new loans
2023-02-22 19:02:15
By Ma Yuhan, Yichang International Communication Studio
With the economy picking up, new bank loans in Yichang reached 20.1 billion yuan (about 2.9 billion U.S. dollars) in January, more than six times the amount in the same period last year, according to data released by the Yichang Branch of the China Banking and Insurance Regulatory Commission.
Government policy support is a major factor in the increase. Yichang's banks have strengthened their credit support for key areas of the economy such as manufacturing, green industry and strategic emerging industries. Small and medium-sized enterprises are also receiving stronger credit support.
In 2022, Yichang's banking sector lent 63.5 billion yuan to manufacturers, 40 billion yuan to green chemicals and clean energy firms, and 1.9 billion yuan to new generation information technology companies.
Since January, the PBOC and other financial regulators in China have stressed the need to maintain credit support for the real economy. Chinese banks extended 4.9 trillion yuan (about 722 billion U.S. dollars) in new yuan-denominated loans in January, up 922.7 billion yuan from the same period last year, according to official data.
With the economy picking up, new bank loans in Yichang reached 20.1 billion yuan (about 2.9 billion U.S. dollars) in January, more than six times the amount in the same period last year, according to data released by the Yichang Branch of the China Banking and Insurance Regulatory Commission.
Government policy support is a major factor in the increase. Yichang's banks have strengthened their credit support for key areas of the economy such as manufacturing, green industry and strategic emerging industries. Small and medium-sized enterprises are also receiving stronger credit support.
In 2022, Yichang's banking sector lent 63.5 billion yuan to manufacturers, 40 billion yuan to green chemicals and clean energy firms, and 1.9 billion yuan to new generation information technology companies.
Since January, the PBOC and other financial regulators in China have stressed the need to maintain credit support for the real economy. Chinese banks extended 4.9 trillion yuan (about 722 billion U.S. dollars) in new yuan-denominated loans in January, up 922.7 billion yuan from the same period last year, according to official data.
