Bloomberg News

China Extends SME Bad Loan Provision Tax Deduction for Banks

October 25, 2011

Oct. 26 (Bloomberg) -- China’s state council has approved an extension of tax deductions to financial companies for bad loan provisions on lending to agriculture and small and medium enterprises, the Ministry of Finance said in a statement posted on its website.

The policy will be extended to 31 December 2013, according to the statement.

To contact the editor responsible for this story: Gregory Turk at

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