Across China: Shenzhen

SME financing

Shenzhen Development Bank (SDB) will offer three factoring products designed to help small and medium-sized enterprises (SMEs) having difficulties finding financing.

Although Chinese banks extended a record 7.37 trillion yuan of new loans in the first half of this year, triple the amount offered in the same period a year earlier, only a small proportion went to SMEs.

The bank will focus its business on addressing the financial needs of those SMEs.

(China Daily 08/17/2009 page10)