Beijing, December 24, 2023, The Europe Today: As of the end of September, China Minsheng Bank has achieved a significant milestone with the balance of its inclusive loans to small businesses surpassing 700 billion yuan (98.59 billion U.S. dollars).
The bank, having dedicated its focus to providing financial services for small businesses since 2008, has played a pivotal role in supporting the growth and development of this sector.
Over the course of its commitment, China Minsheng Bank has extended a remarkable total of more than 6.7 trillion yuan in loans to small businesses, underscoring its crucial role in fostering economic vitality and entrepreneurship within the business landscape.
Zheng Wanchun, President of China Minsheng Bank, has articulated the bank’s commitment to further enhancing the long-term mechanisms of financial services tailored for small businesses. Emphasizing a dedication to continually elevate the quality and efficiency of these financial services, the bank aims to fortify its pivotal role in supporting the financial needs of small enterprises.
Since its formal establishment in Beijing in 1996, China Minsheng Bank has been a trailblazer as China’s first national joint-stock commercial bank, primarily initiated and founded by non-state-owned enterprises.
The bank’s strategic expansion included listings on the Shanghai and Hong Kong stock exchanges in 2000 and 2009, respectively, marking significant milestones in its journey as a key player in China’s financial landscape.
Its total assets amounted to 7.26 trillion yuan, and its net assets were nearly 600 billion yuan at the end of 2022.