China's RMB loans hit 15.68 trillion yuan in Jan.-Nov.

EYEAFRICA TV: Beijing, China: China’s new RMB loans extended by financial institutions hit 15.68 trillion yuan in the first 11 months of this year, 589.7 billion more than in the same period of last year, according to data released by the China Banking and Insurance Regulatory Commission on Friday.
This shows that the banks have further enhanced their ability of sustaining the real economy.
At the same time, the financial institutions helped the real economy to lower their financing cost by lowering loan interests rates, cutting fees and yielding profits.
Data show that from January to October, the interests rate on the inclusive loans to small and micro businesses averaged 6.76 percent, 0.64 percentage points lower than that in 2018.

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