Students in Tibet, Xinjiang to benefit from more bank loan support
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College students in Tibet and Xinjiang regions in western China can expect to benefit from better access to bank loans to pay for their education, according to a website statement by the country's top banking regulator Tuesday.
Promoted by the China Banking Regulatory Commission (CBRC), the China Development Bank on Tuesday signed agreements with three colleges based in Tibet Autonomous Region to provide 9 million yuan (1.4 million U.S. Dollars) of bank loans to students studying at these colleges.
It is estimated that over 1,800 students from families with financial difficulties are to be covered by the loans, the statement said.
Since this year, the CBRC has urged more bank loans be provided to cover students in regions with high concentrations of ethnic minority groups, especially Tibet and Xinjiang Uygur Autonomous Region, the statement said.
Over 700 college students in Xinjiang are also expected to receive bank loans this year, according to the statement, which added "bank loans to support education are an important approach by the banking industry to support the economic and social development in Tibet and Xinjiang."
The number of college students covered by bank loans had reached 4.52 million in 2009 in China, with a total value of 42.41 billion yuan, the statement said.
In 2009 alone, 1.02 million students were approved access to bank loans in China, the number being 51 percent higher compared to 2008.
