China's small businesses received relatively cheap loans


China's small microenterprises received inclusive cheap loans during the first five months of the year, Xinhua News Agency reported on June 26. The average interest rate was 6.03%, which is 0.67 percentage points lower than the average for 2019, the Chinese Banking and Insurance Regulatory Commission said. The financial costs of enterprises continued to fall, said commission spokesman Ye Yanfei, adding that the interest rate on loans for the production sector was 4.32%, which is 0.46% lower than the average at the beginning of 2019.

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