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Private bank makes first loan

By Zhao Yinan in Shenzhen, Guangdong | China Daily | Updated: 2015-01-05 07:49

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high hopes on online competition in the banking sector to cut costs and force State-owned financial giants to change outdated business models.

Private bank makes first loan

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