At the end of the first quarter, the loan approval rate for technology-based small and medium-sized enterprises in China was 49.6%.

Data released by the People's Bank of China on May 30 showed that by the end of the first quarter of this year, 271,800 small and medium-sized technology-based enterprises had obtained loan support, with a lending rate of 49.6%, an increase of 3.6 percentage points from the same period last year. The balance of domestic and foreign currency loans for technology-based small and medium-sized enterprises reached 3.33 trillion yuan, a year-on-year increase of 24%, which is 17.1 percentage points higher than the growth rate of all types of loans.