NEWSGD.COM
Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Home> NewsBrief>Guangdong1
Guangdong expands credit database for SMEs
Latest Updated at 2007-July-11 09:39:09
Related News
The 3rd China International SME Fair
Guangdong1
Rail to connect Shenzhen with cities in Pearl River Delta in 2030
Guangzhou looks after its own in job market
Guangzhou gov't to auction off more land for housing
Guangdong expands credit database for SMEs

South China's Guangdong Province is extending its credit database for small and medium-sized enterprises (SMEs) to give them better access to bank loans.

The Guangzhou branch of the People's Bank of China (PBOC), which is in charge of the work, said it will input the credit information of 360,000 SMEs - two-thirds of the province's total - into the database by the end of the year.

The figure does not include firms in Shenzhen, which are not covered by the Guangzhou branch.

Xu Nuojin, the branch's vice-governor said the companies to be included are those that have been officially registered but not yet been involved in a credit relationship with a commercial bank.

Their basic information, legal status, business details and financial status will be recorded on the database.

Information about their tax payments and utility fees will be added later, he said.

"SMEs often have difficulty raising funds. The aim of the database is to serve as a credit archive so firms can get easier access to bank loans," Xu said.

"In turn, the banks will be able to get a clearer picture of the firms applying for loans, so the whole process can be speeded up."

Xu said all credit information will be kept strictly confidential and only authorized institutions with a valid requirement will be able to access it.

"Banks will be subject to varying penalties if they inquire about information illegally and use it for any other purpose than that which is authorized," he said.

Li Qingqing, an associate professor with South China Normal University's economics department, said the credit database will be equally beneficial to SMEs and banks.

"It will be easier for SMEs with good credit records to raise funds and it will be easier for commercial banks to spot potential customers," she said.

As one of the nation's 17 pilot provinces and cities selected to set up an SME credit database, Guangdong inputted information on 11,203 SMEs in 2006.

Since then, 1,508 have been approved for credit extension loans, while a further 336 have actually received funds.

Editor: Yan

By: Zhan Lisheng Source: China Daily Website

Painting contest held ahead of cultural fair

Human Domino get people relaxed

[Group Photo]The Zhuxian Cave in Zhuhai

Hu attends opening ceremony of Shenzhen Bay Port

Pirates of the Caribbean 3 premieres in China
This site contains material from other media for content enrichment purpose only.
The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
   
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips