China EximBank ups loan support for small, micro-businesses

BEIJING - The Export-Import Bank of China (China EximBank) has increased loan support for small and micro-businesses, with outstanding funds topping 100 billion yuan ($15.4 billion) under a targeted program by the end of March.

Under the loan model, the policy bank provided low-cost funds to medium and small banks, which then grant the loans to small and micro-businesses to reduce their financing cost.

China Eximbank is a State-funded and State-owned policy bank dedicated to supporting China's foreign trade, investment, and international economic cooperation.

China has rolled out a slew of measures to reduce financing costs of small and micro-companies. Outstanding inclusive finance loans to small businesses climbed by 30.3 percent by the end of 2020 from the previous year to 15.1 trillion yuan, central bank data showed.