- March 16, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Chinese Banking Sector Expanding as Loans for Businesses Increase
BEIJING, March 16 (Xinhua) — The banking industry in China is witnessing significant growth, with the balance of loans for micro and small businesses reaching a total of 70.9 trillion yuan (about 10 trillion U.S. dollars) by the end of 2023, as reported by the China Banking Association.
As automated and online banking services become increasingly popular, the number of over-the-counter transactions surged to over 491 billion last year, marking a 9 percent increase from the previous year, according to the report.
The banking sector employed approximately 41,700 customer service personnel by the end of 2023, highlighting the industry’s commitment to customer support and service, the report added.
This year, the report indicates that the Chinese banking industry will maintain its focus on supporting the real economy and fostering a conducive financial environment for sustainable economic development. Ôûá
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