Oct 17, 2023 07:16 AM

ECONOMY

Borrowing Surges Among Private Shenzhen Enterprises

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What’s new: Private companies in Shenzhen borrowed more in September, signaling reviving business confidence in southern China’s tech hub as effects of government’s supportive policies take hold.

As of the end of September, loans taken out by privately owned companies in Shenzhen totaled 2.97 trillion yuan ($407 billion), up 11.6% from the same time a year earlier, according to the Shenzhen branch of the People’s Bank of China (PBOC).

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