Pingyao county bank deposits and loans on the rise

Financial institutions in Pingao county have reported an increase in both deposits and loans by the end of April, thanks in large part to closer cooperation between the government, banks, and businesses.

Deposits by the end of April had reached 12.5 billion yuan ($2.04 billion), or 113 million yuan more than early in the year, for year-on-year growth of 17.1 percent. Residents’ deposits were 9.7 billion yuan, an increase of 23.6 percent from last year’s same period. Loans amounted to 4.24 billion yuan, up 12.1 percent from last year’s same period.

Chen Weiwu, deputy chairman of the People’s Bank of China Pingyao branch, held a recent meeting for government, bank and enterprise representatives, to announce that, out of 48 projects in need of loans, 29 had received about 500 million yuan, and that three, worth 130 million yuan in total, were under way.

Edited by Lin Hong and Roger Bradshaw