Balance of China's loans to small businesses totals 70.9 trln yuan

BEIJING, March 16 (Xinhua) -- The balance of loans for micro and small businesses from Chinese banks totaled 70.9 trillion yuan (about 10 trillion U.S. dollars) at the end of 2023, according to a China Banking Association report.

With the popularity of automated banking services and online banking services, the number of over-the-counter transactions exceeded 491 billion last year, up 9 percent year on year, the report said.

The banking sector had some 41,700 customer service personnel at the end of 2023, it said.

This year, China's banking industry will continue to support the real economy and create a better financial environment for sustainable economic development, according to the report.