Analysis: Forced lending to China SMEs may risk more harm than good
Nov 19, 2013 | Posted by: roboblogger | Full story: The Hartford Courant
A Paramilitary soldier walks underneath red flags on the Tiananmen square next to the Great Hall of the People where the Chinese Communist Party plenum is being held in Beijing SHANGHAI/WENZHOU, China - Beijing's strategy to reroute money away from state-owned giants towards smaller firms to help fuel the economic transformation behind its reform ... (more)
#1 Nov 19, 2013
"We're government-owned. The company is state-owned; really our relationship is like that of brothers," said a loan officer at Bank of Communications, who declined to be identified.
"This is why small and medium-sized enterprises don't get financing from state-owned banks. It's not like they're good or not good. We discriminate against them because they're not one of my brothers."
Yes, the Chinese Communist Party looks out only for its gang members! It doesn't give a DAMN about China!
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