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ACFIC Signs up CCB for Supporting SMEs, County Economy

The ACFIC and the China Construction Bank signed a framework cooperative agreement on mutual support of development of county economy and small and medium enterprises in the Great Hall of the People in Beijing on January 13.

ACFIC Chairman Huang Mengfu said that the deal, a major measure to carry forward the economic and social devleopment strategic arrangement of the CPC Central Committee and the State Council, has great significance for narrowing the rural-urban gap, accelerating new rural construction, promoting employment of urban residents and rural surplus labor force, and maintaining social stability.

CCB Board Chairman Guo Shuqing said that CCB has established over 700 business units across the country for small enterprises and over 140 small firm business centers in the model of "credit factories" in major cities and top 100 counties. It has also formed rural township banks targeting county economy with various well-tailored loan products.

Over the past three years, CCB"s SMEs loans rose an average over 20 percent every year, while currently 85 percent of its clients are small and medium enterprises.