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China sees more inclusive finance loans in H1 – The Asian Telegraph

China sees more inclusive finance loans in H1

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BEIJING:

China’s inclusive finance developed faster in the first half of this year, with loans increasing by 1.49 trillion yuan (about 216.6 billion U.S. dollars), according to the People’s Bank of China.

The loan balance of the inclusive finance sector stood at 16.34 trillion yuan at the end of June, up 16.2 percent year on year.

Inclusive finance covers financial institutions’ services for small businesses, farmers, those on low-incomes, the disabled and senior citizens.

In H1, lending to micro and small businesses grew by 22.5 percent year on year to 10.71 trillion yuan, while those to farmers gained 5.6 percent to 5.29 trillion yuan.

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