Chinese bankers call for boost to SME lending
By: David Parks | Posted: 10th March 2010
China Merchants Bank Co Ltd and China Minsheng Banking Corp have called for provision of tax incentives and easing of norms in order to boost lending to SMEs in China with a view to help them recover from the global economic downturn as well as create more employment opportunities.
Representatives of China Merchants Bank Co Ltd and China Minsheng Banking Corp have submitted separate proposals to the government, urging regulators to relax lending norms and issue SME-friendly loan policies.
Ma Weihua, president of China Merchants Bank Co Ltd, has requested the government to provide tax sops to banks to help them scale up lending to the country's SME sector. The government has been urged to extend support towards the cause of lending to small firms in China, which can create jobs and sustain innovative business models.
Besides tax incentives for boosting SME lending, exclusion of lending to small businesses in regulatory quotas for loans and deposits is one of the major demands made by the chairman of China Minsheng Banking Corp, Dong Wenbiao.
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