Financial institutions and regulatory authorities in Jiangsu have launched a series of financial support policies to continuously strengthen the confidence of market players to cope with the difficulties caused by the epidemic and provide strong support for the smooth operation of the economy.
Chengtong Logistics Co., Ltd., located in Xinbei District of Changzhou City, is engaged in the storage and transportation of raw materials for industry and manufacturing.
With the help of financial and transportation policies, the company reported an average daily transportation of more than 2,000 tons, up 40% from April.
The prevention and control of the epidemic has led to the interruption of highway transportation in some parts of the province and Chengtong Logistics has been subjected to an increase of 3,000-4,000 yuan in inter-provincial transportation cost.
The local Agricultural Bank issued a working capital loan of 30 million yuan before processing the loan on-lending.
Lv Yu, Vice President of Agricultural Bank Changzhou Zhonglou Sub-branch
Gao Fengtong, General Manager of Jiangsu Chengtong Logistics Co., Ltd.
Jiangsu Banking and Insurance Regulatory Bureau recently released 29 specific measures, requiring financial institutions in the province to focus on key industries and foreign trade enterprises, increase financial support, ensure the financial demand for the supply of core components and major raw materials, and strongly support the stability and smoothness of the industrial chain and supply chain.
Xue Lu, Deputy Director of Inclusive Finance Division of Jiangsu Banking and Insurance Regulatory Bureau
Since the beginning of this year, the financial system has continued to increases support for the real economy with the comprehensive financing cost remaining stable though suffering some declines.
The latest statistics from the Jiangsu Banking and Insurance Regulatory Bureau show that as of the end of April, Jiangsu's banking industry reported a loan balance of 19.3 trillion yuan, a year-on-year increase of 14.61%. The average interest rate of inclusive small and micro enterprise loans came at 5.02%, down 0.21 percentage points from the previous year.
