Loans stoke economic recovery
By the end of the first quarter, the renminbi (RMB) loans in Shenzhen totaled 8,665.81 billion yuan ($1,256.8 billion), registering a year-on-year growth of 11.3%, according to the Shenzhen branch of the People's Bank of China at a news conference held on April 23.
Data showed that loan growth in the first quarter in Shenzhen picked up month by month and small- and medium-sized enterprises have benefited a lot from the loans.
This demonstrates Shenzhen government’s efforts to boost business and employment, showing that the city’s economic recovery is accelerating and that that the market’s confidence is being consistently consolidated.
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