[Photo/China News Service] 

Banks in Zhejiang province saw steady growth in the balance of assets, loans and deposits despite the COVID-19 outbreak.

According to the China Insurance Regulatory Commission Zhejiang Bureau, at the end of March, Zhejiang's banks had assets totaling 16.16 trillion yuan ($2.56 trillion), loans totaling 13 trillion yuan and deposits totaling 14.04 trillion yuan, up 13.2 percent, 16.98 percent and 13.95 percent year-on-year, respectively.

In particular, loans from Zhejiang banks have increased more than 15 percent for 20 consecutive months. Loans in manufacturing, wholesale and retail, and accommodation and dining, three industries hit hardest by the epidemic, reached 4.2 trillion yuan at the end of March, 325.5 billion yuan more than the beginning of the year.

Small and micro-sized companies saw faster growth than other companies in the amount of loans they received thanks to measures taken by local authorities this year to improve financial services for them. 

As of the end of March, the loan balance of small and micro-sized companies was 4.2 trillion yuan, 280.83 billion yuan more than the beginning of the year, a 7.17-percent increase.