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BoC issues more loans but bad loan ratio remains unchanged

By Xin Zhiming and Li Weitao (chinadaily.com.cn)
Updated: 2009-03-05 10:03

Bank of China issued more loans in the first two months of this year, compared to the same period in 2008, but the bad loan ratio remained nearly unchanged, a company official said.

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The bank is going to expand credit, especially that targeting small and medium-sized enterprises (SMEs), said Li Lihui, president of Bank of China, on the sidelines of the annual session of the National People's Congress.

Bank of China will soon set up a special department specializing issuing loans to SMEs and will launch about 40 "loan centers" across the country to streamline the process of issuing such loans, he said.