BEIJING, Feb. 25 (Xinhua) -- Chinese banks have adopted measures such as increasing credit support, imposing preferential interest rates, and offering special online financial services to help enterprises resume production amid the fight against the novel coronavirus pneumonia, reported Xinhua Finance, a national financial information platform run by Xinhua News Agency.
Data from China Banking Association showed that as of February 19, banks in China had provided more than 746 billion yuan of credit support to help companies restore production.
Banks have also reduced service fees and lowered the loan interest rate for micro and small-sized enterprises hit hard by the outbreak, according to the report.
Meanwhile, multiple banks have unveiled online financial services and products to better serve enterprises. For instance, the Bank of China launched online loan review service, at which project review can be carried out through video, teleconference, etc. so that loan approval can be granted to enterprises as soon as possible to address their urgent needs. (Edited by Su Dan, silviasu07@163.com)
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