The bank recently established its small-enterprise credit centre. As a strategic financing division of the bank, the centre will focus on the credit needs of small-sized enterprises.

Ma Weihua, the bank's president, said that this represents an important step for the bank towards achieving its strategic transformation and the implementation of the six mechanisms required by the China Banking Regulatory Commission for small enterprise financing.

The credit centre for small enterprises will be based in Suzhou, a prosperous city in the Yangtze Delta region. It will be responsible for the bank's entire small-enterprise credit business. It will focus on the Yangtze Delta and Pearl River Delta regions, two of the most developed regions in the country. Based on the different characteristics and financing requirements of small enterprises, the bank will provide various lending products.

In 2006 and 2007, the bank was recognised by the China Banking Regulatory Commission as a 'Well-performing' banking financial institution in the small-enterprise credit business. It has signed cooperation agreements with twenty clients since the launch of its small-enterprise credit centre.

Source: China Securities Journal

Date: 24 Jun 2008

CN01/MZ/BT/MM