Preferential bank services help startups in Inner Mongolia

(chinadaily.com.cn)

Updated: 2016-04-21

The city of Baotou, Inner Mongolia, published a report recently that shows its banking sector doing some remarkable work in assisting micro-to-small-sized companies and giving the local economy momentum in the past five years.

Under the 12th Five-Year Plan (2011-2015), Baotou banks increased the credit of the city's major projects to help with economic reforms, industrial layout, and innovation and, by the end of 2015, their loans to micro-to-small companies totaled 46.2 billion yuan ($7.2 billion), with an increase of 32 billion yuan over 2014 and for an annual growth of 27-percent.

The banks also organized meetings on project matching and provided some financial supermarket products, business district loans, youth and women start-up loans, and financial bonds to help the city's economy.