The proportion of outstanding Industrial and Commercial Bank of China loans to wholly state-owned and state-controlled enterprises has fallen by 27 percentage points since 2000 to 38%. China’s largest commercial lender said commercial credit is up 11 percentage points to 16% of outstanding loans, over the same period. At the same time, lending to non-state-controlled domestic firms and foreign-invested enterprises increased by five percentage points to 15% of the Beijing-based bank’s outstanding loans portfolio. ICBC is trying to shed its image as a state policy puppet as it seeks a stock market listing.
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