Briefly

Marine economy hits milestone in 2024

China's marine economy achieved a significant milestone in 2024, with its gross ocean product exceeding 10 trillion yuan ($1.4 trillion) for the first time, according to data released by the Ministry of Natural Resources. An annual report by the ministry shows that GOP reached 10.54 trillion yuan in 2024, marking an increase of 5.9 percent from the previous year, while demonstrating robust growth across multiple sectors.

Loans to small firms see robust growth

Official data showed that China saw robust growth in the outstanding sum of loans to small and micro companies by the end of 2024 amid government efforts to encourage inclusive financing. By the end of the fourth quarter of last year, the balance of loans issued by banking financial institutions to small and micro firms totaled 81.4 trillion yuan ($11.4 trillion), according to the National Financial Regulatory Administration. Outstanding loans to small and micro companies with a credit limit of 10 million yuan or less reached 33.3 trillion yuan, surging 14.7 percent year-on-year, data from the administration showed.

Xinhua - China Daily