PBOC increases financial support for stabilizing businesses
2022-06-21
Recently, the People’s Government of Chenzhou City organized a press conference to implement the measures to stabilize the economy and issue the “1+7” policy measures.
The press conference released the detailed rules of implementing the package of policies and measures to stabilize the economy of Chenzhou City and the special campaigns from 7 aspects, forming the “1+7” policy system. The People’s Bank of China Chenzhou Central Branch also introduced nine measures for financial support to stabilize the economy in detail, distributed more than 50 brochures on credit products to enterprises and interpreted relevant financial policies, which helped ease enterprises’ burden and boost their confidence in development.
Centering on the “23 measures for financial assistance to enterprises” and Hunan’s nine measures for financial support to stabilize the economy, the People’s Bank of China Chenzhou Central Branch quickly set up a leading group headed by the president and held several meetings to scientifically arrange financial support for enterprises in Chenzhou City.
It also issued related policies and measures, and collected more than 150 characteristic credit products from banks in the city, which were classified into 15 categories of loan support objects, such as technological innovation, accommodation and catering, agriculture and so on, and compiled them into brochures.
It strove to meet the financing needs and guarantee economic and social development of the enterprises that have resumed work and production by encouraging financial institutions within its jurisdiction to carry out special campaigns to support the market entities suffering the financial difficulties and key private
enterprises.
By the end of April, the favorable loan balance of micro and small businesses in Chenzhou City was 28.548 billion yuan, up 22.56% year on year. The growth rate of small and micro credit loans exceeded all loans by 11.75% compared with the beginning of the year. The bank has made interest concessions and fee reduction of 140 million yuan for all enterprises in the city. And it also adjusted repayment arrangements and waived default interest for 142 individuals and enterprises experiencing temporary hardship within its jurisdiction.
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