OREANDA-NEWS. September 19, 2011. ICBC has exerted greater efforts in extending loans to small enterprises in Midwest and Northeast China since January this year, serving more small businesses in the country. Statistics show that in the January-July period, total amount of loans extended to small enterprises in the Midwest and Northeast China from ICBC increased 65.6% or 155.2% respectively against beginning of the year, up 37 and 127 percentage points than the average increase of small business loans in ICBC. The two regions have become important growth poles for small business loans, reported the press-centre of ICBC.

Several factors contributed to the growth of loans to small enterprises in Midwest and Northeast China, said an executive with ICBC. First of all, China's strategy to promote the coordinated development of regional economy has brought great opportunity for local small enterprises to thrive. ICBC's strategy to gradually push ahead services to small enterprises over recent years and the long-term fostering of small business loan markets in Midwest and Northeast China have also directly led to the business development. ICBC has brought many of the mature small business loan products, service models and management experience already practiced in developed Eastern China areas to Midwest and Northeast China, promoting the leap-frog growth of loans to local small businesses. ICBC's small business loans have covered all areas in the country in a balanced manner. In the first seven months of 2011, small business loan outstanding of the five ICBC branches in Northeast China (Inner Mongolia, Liaoning, Jilin, Heilongjiang and Dalian) all increased over 100% against beginning of the year, that is, 143%, 190%, 115%, 140%, 183% respectively. Sichuan Branch, Gansu Branch and Ningxia Branch which are located in Midwest China also showed robust growth in small business loans, increasing 122%, 165%, 114% respectively against beginning of the year.

ICBC Sichuan Branch was an example. By end of July, small business outstanding of the Branch was nearly RMB 10 billion, up RMB 5.4 billion against beginning of the year, and 13 times as much for the increase of all loans in the Branch. As related, the Branch has taken growth of small business loans as an important strategy to support the healthy growth of local economy, increase job opportunities, and push ahead transformation of the Branch's business operation and structure. So far ICBC Sichuan has assigned dedicated staff to offer financial services to small businesses by establishing small business financial service centers in 18 branches in Sichuan province, and sub-centers or special sub-branches in 37 sub-branches. Meanwhile, the Branch also makes innovative adjustments on credit and loan management rules based on the characteristics of small enterprises, lends more support to industry clusters of small enterprises with potential growth, and focuses on loans to key small enterprises and private sectors, in a move to enhance the service efficiency and standard for the fast growth of local small enterprises.