East China’s Jiangsu province has asked local authorities to take solid measures to support key enterprises manufacturing medical supplies to resume production to help combat the novel coronavirus outbreak.
Jiangsu Aibode Medical Equipment Co., Ltd. has worked overtime to produce nebulizers that are urgently needed in the market since the outbreak of the novel coronavirus epidemic.
The local construction bank provided a loan of 1 million yuan to ensure the production of materials needed for epidemic prevention and control.
The Provincial Local Financial Supervision Bureau, opened a six-month green financing channel on the provincial integrated financial service platform in collaboration with the Provincial Department of Finance, the Nanjing Branch of the People's Bank of China and the Jiangsu Banking and Insurance Regulatory Bureau in a bidto reduce the pressure on small and medium-sized enterprises and micro-enterprises due to the epidemic outbreak.
The city of Suzhou, for example, has announced measures including financial support and tax cuts to help small and medium-sized firms affected by the coronavirus epidemic.
Banking institutions are required to step up financial support for small and micro enterprises to guarantee bank loans, according to the circular released on late Feb 2 by the city government.
The outstanding balance of loans to small and micro companies in 2020 shall be no less than that of the same period in 2019, and the companies' financing costs shall be no more than last year's levels, the circular said.
Local financial departments should firmly implement the supportive policies unveiled by the central authorities including financial support, preferential tax and social insurance, the Ministry of Finance said in a circular on February 7.
Financial departments at all levels should strengthen coordinated efforts and give full support to the epidemic prevention and control, the circular said.
(Source:ourjiangsu.com)
