China sees growth in loans to small businesses

BEIJING -- China issued more inclusive loans to small and micro firms by the end of November in 2021, official data showed.

The outstanding inclusive loans to small and micro businesses totaled 18.7 trillion yuan ($2.94 trillion) at the end of November, up 24.1 percent year-on-year, according to the China Banking and Insurance Regulatory Commission.

In the January-November span last year, new yuan loans hit 19.2 trillion yuan with a focus on manufacturing and infrastructure construction, according to the commission.

China will take market-oriented approaches to strengthen financial support for micro, small and medium-sized enterprises, according to a State Council executive meeting held last month.