Tibet eases financing for private businesses

Southwest China's Tibet Autonomous Region rolled out a spate of measures Tuesday to ease financing for private businesses in the region.

The measures, released by regional financial regulators, include increasing monetary policy support, improving credit management, and offering more diverse financing products and services.

Loans in the region granted to private businesses should grow at least five percentage points higher than the growth of other types of loans, and the banks should expand the scope of items private businesses can mortgage and pledge, according to the measures.

Local statistics show that Tibet had about 44,000 new market entities established in 2017, up 19.1 percent year-on-year. The total number of registered businesses reached 227,000 in 2017, with more than 96 percent in the private sector.