Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Agricultural Development Bank of China
Policy

China ramps up efforts to help small businesses tide over tough time

March 02, 2020


Abstract : China rolled out a raft of measures on Sunday to provisionally defer loan payments for small businesses to tide them over the difficulties amid the epidemic, according to the country's top banking and insurance regulator.

BEIJING, March 1 (Xinhua) -- China rolled out a raft of measures on Sunday to provisionally defer loan payments for small businesses to tide them over the difficulties amid the epidemic, according to the country's top banking and insurance regulator.

For virus-striken micro-, small- and medium-sized companies, financial institutions shall defer their loan principal repayments that have matured since Jan. 25, said a document released by five central departments including the China Banking and Insurance Regulatory Commission (CBIRC).

Meanwhile, their interest payments between Jan. 25 and June 30 can be deferred to June 30, with penalty interest payments exempted, the document said.

Apart from enjoying the deferment policy, enterprises in the hardest-hit Hubei Province shall be given special credit quota, so as to lower the comprehensive financing cost in 2020 by over 1 percentage point from last year for inclusive small and micro enterprises.

The CBIRC also stressed to bolster eligible companies with temporary liquidity difficulty in the epidemic, forbid one-size-fits-all practices and promote information sharing in offering credit support.

Scan the QR code and push it to your mobile phone

Keyword: SME CBIRC

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial