Majority of enterprise loans go to private sector

Loans to private companies in Guangdong rose 15.12% to RMB4.29 trillion in the first half, accounting for the majority (54%) of total lending to companies, official data shows. 

Guangdong banks remain the country’s richest. At the end of June, the province’s balance of domestic and foreign currency loans was RMB15.88 trillion, a year-on-year increase of 16.2%; the balance of various deposits was RMB22.54 trillion, a year-on-year increase of 11.9%.

Private SMEs are getting the attention they deserve, apparently. As of the end of June, the balance of small and micro loans was RMB1.35 trillion, up 17% since the beginning of the year. 

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