East China’s Jiangsu province have used all policy tools, including monetary, fiscal and structural ones to shore up growth and help enterprises endure the difficult situation in the post-epidemic recovery.
Micro and small enterprises in Nanjing were recently compensated by the insurance companies as the government is making every possible effort to help soften the impact of the COVID-19 pandemic on the economy.
Zeng Rongrong’s company is one of the beneficiaries from the compensation.
Her company shipped 40 thousand dollars worth of goods to the clients in France.
The clients, however, failed to fulfill the payment as scheduled due to the impact of the global pandemic.
The payment in arrears was a bolt from the blue for Zeng’s company of more than 20 employees.
After a careful investigation, Jiangsu Credit Re-guarantee Co. Ltd paid out more than 30 thousand dollars of compensation to help Zeng’s company tide over the difficulties.
Many micro and small enterprises in Jiangsu ran into financial difficulties during the outbreak of the novel coronavirus disease.
As a policy export credit agency, since the start of this year, Jiangsu Credit Re-guarantee Co. Ltd. has added 2.889 billion yuan in trade financing loans to 759 companies.
On average, one out of every four small and micro export companies in the province has obtained the risk guarantee and service support from the credit re-guarantee company.
As of the end of May, Jiangsu Credit Re-guarantee Co. Ltd. had supported US$30.041 billion for Jiangsu’s exports, a year-on-year increase of 2.6%. it has also supported US$5.915 billion for small and micro enterprises’ exports, a year-on-year increase of 38.8%.
(Source:ourjiangsu.com)
