China’s small business lending push could equal US$418 billion in new loans, S&P Global says

CHAD BRAY | April 15, 2019

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Beijing’s efforts to boost the availability of capital to the country’s smallest businesses could generate as much as 2.8 trillion yuan (US$418 billion) in new loans if the nation’s banks meet the government’s target to increase business lending this year, according to S&P Global.In March, Chinese Premier Li Keqiang called for the country’s biggest state-owned commercial banks to increase their loans to micro and small enterprises (MSE) by more than 30 per cent this year as China’s economic growth slows.“Higher MSE lending will lead to higher credit costs and weaker asset quality. However, the impact on overall bank credit quality is limited,” Harry Hu, a S&P Global credit analyst, said in a research report. “Financial-inclusion MSE loans still make up a relatively small contribution to the banking sector's total loan portfolio, and the government is providing a number of supports to offset the burden.”

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Small business owners use technology to connect with people, provide better customer services, resort to remote workplace methods, automate tasks to save time, and much more." } },{ "@type": "Question", "name": "What technology do small businesses need?", "acceptedAnswer": { "@type": "Answer", "text": "Small businesses must have some popular technologies such as HR software, Cloud computing, CRM, data and information security technology, mobile applications, etc." } },{ "@type": "Question", "name": "Why do small businesses need technology?", "acceptedAnswer": { "@type": "Answer", "text": "Technology helps to save time and physical space for small businesses. The use of technology brings efficiency to operations. 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