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Loans to individuals and private companies from Chinese banks
have been increasing by an annual average of 50 percent in recent
years and the quality of these loans are good in general, said Liu
Mingkang, president of the China Banking Regulatory Commission
(CBRC), Thursday.
Liu, along with Zhou Xiaochuan, governor of the People's Bank of
China, met a group of Chinese and overseas journalists at a press
conference on the sideline of the current parliament session.
Liu pledged at the press conference that the country's banking
industry will continue supporting the private sector.
As the development of China's private economy is still at its
initial stage, the country also needs risk investment funds to
finance private companies, hi-tech ones in particular, the official
noted.
While urging commercial banks to listen more to these private
clients to learn about their demands and find potential risks, Liu
called for a further improvement of legal environment for the
development of private businesses.
(Xinhua News Agency March 11, 2004)
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