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Small businesses get loans of 35 trillion yuan

Outstanding loans by Chinese financial institutions to small and micro businesses stood at 35.15 trillion yuan ($5.1 trillion) at the end of May, data from China Banking and Insurance Regulatory Commission showed. Around 19.28 million small and micro businesses had received loans of no more than 10 million yuan each by the end of last month, up 6.6 million from the start of last year. With authorities encouraging loans to small and micro businesses to help support economic growth, the takeup of such loans has accelerated in recent years and lending rates kept falling.

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