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Inclusive finance loans increase in 2018

Inclusive finance developed rapidly in China last year, the People's Bank of China, the central bank, said on Monday. The loan balance of the inclusive finance sector stood at 13.39 trillion yuan ($1.99 trillion) at the end of 2018, up 13.8 percent year-on-year. Inclusive finance covers financial services offered by financial institutions to microbusinesses, farmers, those on low incomes, the disabled and senior citizens. Bucking the trend, loans to China's property sector expanded at a slower pace due to strict purchase rules and ongoing financial deleveraging.

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