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China’s small business lending push could equal US$418 billion in new loans, S&P Global says

Beijing’s efforts to boost the availability of capital to the country’s smallest businesses could generate as much as 2.8 trillion yuan (US$418 billion) in new loans if the nation’s banks meet the government’s target to increase business lending this year, according to S&P Global.In March, Chinese Premier Li Keqiang called for the country’s biggest state-owned commercial banks to increase their loans to micro and small enterprises (MSE) by more than 30 per cent this year as China’s economic… Source link

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China 

China’s P2P lending market could be decimated this year amid Beijing crackdown

This photo taken on February 4, 2016 shows investors in Chinese online peer-to-peer lender Ezubao chanting slogans during a protest in Beijing. The protest came days after China announced that 21 people had been arrested on suspicion of defrauding around 900,000 people of more than 50 billion yuan, after Ezubao turned out to be a giant Ponzi scheme. Photo: Agence France-Presse Source link

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Vietnam 

Moody’s backs Việt Nam’s strict proposal on unsecured consumer lending – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  VPBank Finance Co., Ltd (FE Credit) has the highest proportion of personal loans in its loan portfolio among the three largest finance companies in Vietnam by total loans. — Photo zing.vn HÀ NỘI  —  Việt Nam’s stricter regulations on unsecured consumer lending are credit positive for finance companies, according to a recent credit outlook report released by the credit ratings agency Moody’s Investors Service. The State Bank of Việt Nam has proposed changes to regulations on personal unsecured lending by consumer finance companies. The proposed changes include limiting unsecured personal…

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Vietnam 

IFC helps boost lending to SMEs – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The World Bank’s International Finance Corporation (IFC) and Orient Commercial Bank (OCB) on Wednesday signed a co-operation deal on a US$100 million credit package and a consultancy programme to promote supply chain financing. Under the agreement, IFC will provide a loan worth $100 million to OCB with a term of three years, including $57.16 million from IFC’s own account and $42.84 million from the multi-investor Managed Co-Lending Portfolio Programme (MCPP) managed by IFC. The IFC-led financing package, combined with advisory services,…

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Vietnam 

Government moves to legalise P2P lending – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – The Government will soon issue a decision to allow a pilot implementation of peer-to-peer (P2P) lending in the country before officially developing laws for the new form of business, Deputy Prime Minister Vương Đình Huệ said. During a recent meeting with relevant ministries and agencies to discuss P2P lending, Huệ instructed that during the pilot operation, P2P lending would be restricted to connecting lenders and borrowers as currently being run by most P2P lending companies in Viet Nam. P2P lending companies would not…

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China 

China’s new bank lending falls sharply in February from record high

New bank lending in China fell sharply in February because of seasonal factors, and as the government took action to dampen speculative activities after lending hit a record high the previous month.Chinese banks made 885.8 billion yuan (US$131.8 billion) in net new yuan loans in February, only one-third of the record 3.23 trillion yuan in new lending in January, according to data from the People’s Bank of China (PBOC).The February result was below expectations, with analysts polled by Reuters… Source link

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Beijing demands 30 per cent increase in banks’ lending to small companies in bid to boost flagging economy

The Chinese government has set a mandatory target for the country’s commercial banks to increase lending to small companies by 30 per cent, as Beijing pushes to bolster opportunities for private firms to stimulate an economy that is slowing amid a trade war with the United States.Beijing will “make solid efforts” to solve the funding difficulties facing many companies, Chinese Premier Li Keqiang said on Tuesday during his 2019 government work report. State-owned large banks must boost their… Source link

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Vietnam 

Social housing lending rate proposed to be lowered – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The HCM City Real Estate Association proposes social housing lending rates at 3-3.5 per cent. — Photo tinnhanhchungkhoan.vn Viet Nam News HÀ NỘI — The HCM City Real Estate Association has proposed social housing lending rates be lowered to 3-3.5 per year to create favourable conditions for low-income earners to afford homes. This was highlighted in the association’s document recently submitted to the Government about its recommendations for completing social housing policies as Việt Nam was developing a project on the 2021-30 comprehensive social housing policy in Việt…

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Vietnam 

Regulation needed for P2P lending: experts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — With peer-to-peer lending becoming increasingly popular in Việt Nam, experts said a legal framework is needed to regulate the activity to prevent loan-sharking. Since last year P2P lending, which involves lending to individuals and businesses by matching lenders and borrowers, is accelerating in Việt Nam with around 40 online lending companies springing up. One of the most well-known is Tima Group Joint Stock Company, which was established in 2015. Lenders and borrowers have to register on the Tima system and…

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