BEIJING, Nov. 21 (Xinhua) -- Several Chinese banking, insurance and credit institutions have been criticized for charging excessive fees on loans to small and micro businesses, in violation of regulations aimed at lowering financing cost for the firms.
Targeted inspections by the General Office of the State Council and China Banking and Insurance Regulatory Commission (CBIRC) found that some branches of Industrial and Commercial Bank of China and China Minsheng Bank had charged fees that should have been abolished for loan issuance to small and micro businesses.
