Financial inclusion loans to small businesses in China saw surging growth in the first quarter of 2022, amidst a push from regulators to drive private sector growth.
As of the end of the first quarter the micro-and-small enterprise loan balance of banking sector financial institutions stood at 53.4 trillion yuan, according to data recently released by the China Banking and Insurance Regulatory Commission (CBIRC).
The balance of financial inclusion loans to micro-and-small enterprises of under 10 million yuan was 20.6 trillion yuan, for year-on-year (YoY) growth of 22.6%.
According to CBIRC data the regular loan balance of commercial banks in China was 169.6 trillion yuan as of the end of the first quarter.
The non-performing loan ratio of Chinese commercial banks was 1.69% as of the end of the first quarter, for a decline of 0.04 percentage points compared to the end of the previous quarter