Chinese small firms get more loans on paper but not in reality

Money boost: A file photo of people walking past a branch of Agricultural Bank of China in Shanghai. Authorities are trying to up lending to SMEs. — Reuters

Financing conditions remain tight amidst uncertain export outlook

BEIJING is keen to show results after four rounds of policy easing, so China’s big banks are playing along, highlighting their efforts to boost lending to cash-starved small firms, offering collateral waivers and setting loan targets.