Firm wins subsidy

SHENZHEN Snapmaker Technologies Co., a high-tech startup, has won a subsidy of 1.97 million yuan (US$285,507) from the city government for its cross-border e-commerce project, according to the company.

The company, established in 2016 and specialized in 3D printing and laser engraving solutions, said it will use the subsidy to build its brand in overseas markets and upgrade customer services.

Internet dating market grows

THE market value of China’s internet dating industry reached 7.2 billion yuan in 2021, up 11.6 percent compared with 2020, said an industrial report.

By the end of 2021, the user base of the internet dating market in the country totaled more than 30 million people, driven by a growing number of individuals born after 1985, according to the report released by BigData-Research, an industry analysis company. The emerging market is projected to post a total value of more than 8.05 billion yuan in 2022, the report said.

Banks see decline in bad loan ratio

CHINESE commercial banks posted a declining bad loan ratio at the end of November 2021, official data showed.

The nonperforming loan ratio of financial institutions in the banking sector stood at 1.89 percent, down 0.04 percentage points from the beginning of last year, according to the China Banking and Insurance Regulatory Commission.

Forex reserves expand

THE country’s foreign exchange reserves expanded to US$3.25 trillion at the end of December, up US$27.78 billion from a month earlier, data from the State Administration of Foreign Exchange (SAFE) showed Friday.

The operation of the foreign exchange market was generally steady in December, said Wang Chunying, deputy administrator and spokesperson of the SAFE.