CDB steps up financing support for small firms

6 September, 2019 12:00 AM printer

BEIJING: China Development Bank (CDB), a development financial institution, has worked with smaller financial institutions to boost loan support to small businesses and the agriculture sector as the government aims to guide more funds to those areas.

In the first eight months, the CDB promised to transfer 73 billion yuan (10.3 billion U.S. dollars) of loans to small and micro firms as well as the agriculture sector, according to a report by Shanghai Securities News, reports Xinhua.

In August alone, the bank issued 21.1 billion yuan in loans, benefiting some 21,000 small and micro-sized companies.