Loan scheme helps Tibet's small businesses grow

Credit rating policy rolled out by Agricultural Bank of China has allowed farmers to expand their operations and increase annual incomes

Jampa Norbu lives in a village in Lhunzhub county, which is 60 kilometers away from Lhasa, the capital of the Tibet autonomous region. He has a family of seven, 8.24 acres of land and nine cattle. Most of the family's income comes from farming highland barley and wheat.

In 2011, he took out a three-year loan of 30,000 yuan ($4,830) from the Agricultural Bank of China Ltd to buy farm machinery. Ever since, his income has increased 20 percent annually on average to 60,000 yuan.