|Tibet opens 1st Financial Services Centre for Small Enterprises|
Tibet's first Financial Service Center for Small Enterprises opened
in the Tibet Branch of the Agriculture Bank of China (ABC) on Nov. 27, photo from Xinhua.
Tibet's first Financial Service Center for Small Enterprises opened in the Tibet Branch of the Agriculture Bank of China (ABC) on Nov. 27, according to Tibet Daily.
The establishment of the center marks a major move to solve small enterprises' problem in obtaining loans and accelerate their development.
Fund shortages and the hard-to-get loan problem has been the bottleneck for Tibet's booming economy.
In response to the call of the Central Committee of CPC (the Communist Party of China) and the State Council, Tibet founded the center for small enterprises to help expand the loan scale and make client access to loans easier.
The center will create a cooperative platform for enterprises and banks and play a positive role in lowering banks' loan risks and solving small enterprises' loan problems.
By the end of October the ABC Tibet Branch had extended 1.34 billion yuan(196.32 million U.S. dollars) in loans and currently has 64 small and medium enterprise clients.