The Postal Savings Bank of China (PSBC) has won an award from the China International Cooperation Association of Small and Medium Enterprises for the high quality of the financial services it provides to its small and medium-size enterprises (SMEs).
PSBC in recent years has developed quickly its financial services for China’s SMEs.
By the end of 2013, PSBC was providing financial services to 12 million SMEs as well as mini-size enterprises, helping 30 million people in their employment. The balance of loans provided by PSBC to SMEs and mini-size enterprises expanded 25.63 percent, or more than 100 billion yuan (U.S. $16.01 billion), from the previous year to reach 537.5 billion yuan (U.S. $86 billion) in 2013.
With the increase in the amount of loans, the quality of financial services provided by PSBC to SMEs has also improved quickly in recent years.