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Xinhua Silk Road
Local

N. China's Tianjin provides financial support for sports enterprises to resume production

July 03, 2020


Abstract : North China's Tianjin Municipal Sports Bureau has teamed up with a local bank to provide financial support for sports enterprises to resume production in the post-epidemic period, said the bureau on Thursday.

TIANJIN, July 3 (Xinhua) -- North China's Tianjin Municipal Sports Bureau has teamed up with a local bank to provide financial support for sports enterprises to resume production in the post-epidemic period, said the bureau on Thursday. 

According to the measures jointly launched by the bureau and the Tianjinn branch of  Industrial and Commercial Bank of China (ICBC), the bank will ramp up credit support for sports enterprises. For those hit hard by the epidemic and encountered with temporary financial difficulties, the bank will defer loan payments or adjust their payment plan. 

For those that have been included in the list of the People's Bank of China as key enterprises for epidemic prevention and control, a maximum of 10 million yuan worth of loans will be granted with the most preferential interest rate.

Meanwhile, Tianjin Municipal Sports Bureau and ICBC Tianjin branch will establish a mechanism for the promotion of high-quality sports enterprises and projects. The bureau will regularly collect and promote qualified enterprises and projects. The bank will offer them a "green channel" for fast approval. 

In addition, in a bid to boost sports consumption, the two sides will increase the issuance of sports cards that can provide cardholders with convenient and preferential sports services. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)

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Keyword: bank enterprises sports

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