Bank of China told local media that by the end of January its outstanding loans stood at nearly CNY1.6 trillion compared to CNY87.29 billion at the beginning of the year.

Chinese Internet trading website Alibaba.com and China Construction Bank have jointly launched a low-interest loan service for medium and small Chinese companies.

Chinese e-commerce service provider Alibaba has released a social responsibility report will set up a special social responsibility department to promote the development of the social responsibility management system within the company.

In cooperation with China Construction Bank, Alibaba has launched a convenient online loan service in China and six companies have reportedly received a total of RMB3.1 million in low-interest loans.