Private bank makes first loan

Li says govt will offer good environment for sector's growth

Premier Li Keqiang pressed the 'enter' button on a computer on Sunday to finalize the first loan by WeBank, a new online bank and one of five privately funded banks given approval to open in China.

During a visit to China's first Internet-based bank, Li said he placed high hopes on online competition in the banking sector to cut costs and force State-owned financial giants to change outdated business models.