A new survey of Chinese banking sector professionals indicates that their current focal points for development include tech lending and financial inclusion for small businesses.
The China Banking Association (CBA) and PricewaterhouseCoopers recently jointly released the “China Banker Survey Report (2021)” (中国银行家调查报告（2021）), after conducting surveys of 1794 members of the Chinese banking sector.
74.5% of respondents said that micro-and-small enterprise loans are the focal point for development of business financial services, marking the 10th consecutive year that the category has occupied the top spot.
In terms of focal industries for lending by Chinese banks, the pharmaceutical sector came first, followed by information technology services in second place, and infrastructure in third.
New focal industries for bank lending include those areas recently made subject to government support policies, including machinery manufacturing and the aerospace industry, which came in fourth and fifth place.
The survey also indicated that real estate remains a “key restricted sector” for lending by banks, although they still seek to provide guarantees for “reasonable housing funds demand” to Chinese consumers.
65.7% of survey respondents said that wealth management is currently the chief focal point for the development of personal financial services.
