Since the beginning of this year, banks in Jiangsu have introduced new measures to increase financial support for the consumer sector and stimulate the vitality of the consumer market.
The Industrial and Commercial Bank of China has proposed to focus on housing improvement, new energy vehicles and other mass consumption and shopping, food, leisure, tourism and other consumption scenarios, increase resource investment, formulate and implement a package of financial support policies such as preferential interest rates and consumption subsidies, and promote the release of consumption potential.
Liao Lin, President of ICBC:
We will increase the incentives for consumer loans such as cars, home appliances and home decoration,and introduce preferential measures such as consumer discounts and lottery after sales.In particular,in response to the consumption demand of "new citizens",we have launched a package of preferential service programs reasonably increased the supply of consumer credit,and supported the conditional upgrading of residents' consumption.
ICBC will also provide relief services such as loan extension and interest extension for retail, catering, culture and tourism, logistics and some other industries that are seriously affected by the epidemic to help enterprises tide over difficulties and recover vitality.
The Agricultural Bank of China will increase investment in the areas of consumption and livelihood such as clothing, food, housing and transportation, culture and education, health and old-age care, accelerate support for a number of county and rural e-commerce, express logistics and distribution projects, and provide preferential rate support for consumer loans such as car sales and home decoration.
The Postal Savings Bank will cooperate with a number of automobile manufacturers to carry out car purchase preferential activities in rural areas, and provide zero interest or low interest preferential policies to help spur car sales in the counties.
The Bank of China, Industrial Bank and some other banks have also made it clear that they should increase support for catering, accommodation, culture and tourism and other fields to stimulate consumption potential.
The banking and insurance supervision bureaus in Jiangsu, Fujian and Liaoning have issued a number of measures to encourage banks to increase credit and increase the profitability of consumer financial services.
