BEIJING, May 30 -- Technology-oriented small and medium-sized enterprises (SMEs) in China received strengthened loan support in the first quarter of this year, data from the People's Bank of China (PBOC) shows.
A total of 49.6 percent of tech SMEs had received loans by the end of the first quarter, an increase of 3.6 percentage points compared to the same period last year, the PBOC said in a report released on Friday.
Outstanding loans to tech SMEs in both local and foreign currencies stood at 3.33 trillion yuan (463 billion U.S. dollars), surging 24 percent year on year. This growth rate outpaced overall loan growth by 17.1 percentage points.
The report also shows there was strengthened credit support for high-tech companies, with outstanding loans to high-tech firms in both local and foreign currencies rising 8.5 percent year on year, 1.6 percentage points higher than the overall loan growth rate.
Outstanding green loans in both local and foreign currencies had reached 40.61 trillion yuan by the end of the first quarter, an increase of 9.6 percent from the beginning of this year, per the report.
Loans to the real estate sector stabilized, with outstanding yuan-denominated real estate loans reaching 53.54 trillion yuan by the end of the first quarter, a year-on-year increase of 0.04 percent. Outstanding loans for real estate development stood at 13.87 trillion yuan, up 0.8 percent year on year.