In 2013, new yuan loans accounted for nearly 52 percent of the social financing in the central region and about 55 percent in the western region, but less than 50 percent in the eastern region.
Wen said the central and western regions rely more on bank loans because the companies in these regions are not strong enough to be self-reliant and the financial markets are not fully developed. The eastern region, on the contrary, has more varieties of financial institutions. Its enterprises have better productivity and a higher level of technology.
Last year, direct financing, which comprises non-financial corporate bond financing and domestic stock financing, accounted for 13.5 percent of the social financing in the eastern region, according to the People's Bank of China.
Building a system to calculate social financing by region will help strengthen the financial industry's support for the real economy, promote regional economic restructuring, and narrow the regional differences in economic development, said the official at China's central bank.
"By monitoring the statistics, we will detect the problems and risks in regional financial development. For example, if non-financial institution loans take a large proportion of the social financing and expand rapidly in some regions, we will pay close attention to possible financial risks," said the official.
|
 |
 |
| China's top 10 richest cities |
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
