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Finance

China's Big 4 banks boost lending for stricken small businesses

Financing surge threatens to turn sour in prolonged economic slump

Workers manufacture parts for trailers to be exported to the U.S. at a plant in Jiangsu Province, China.   © Reuters

HONG KONG -- China's four largest state-run banks have ramped up lending to small and midsize enterprises whose earnings have deteriorated due to the coronavirus pandemic.

Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank and Bank of China stressed their support for small businesses during recent earnings briefings, most recently on Wednesday.

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