Chongqing Rural Commercial Bank says it will lend CNY20 billion over the next three years to support the growth of 3,000 small and medium enterprises in Chongqing.
Data from CRCB shows that by the end of September 2008, the Bank had had lent nearly CNY35.1 billion to SMEs and it had had over 5,400 SME clients, accounting for 49% of its total loans.
Liu Jianzhong, president of CRCB, said that in the next three years, the Bank will develop a series of tailored financial products for SMEs based on their unique features including, but not limited to, offering credit loans and joint-guaranty loans for these businesses.
