CHINA China unveils stronger financing support for virus prevention, control enterprises

CHINA

China unveils stronger financing support for virus prevention, control enterprises

Xinhua

00:38, February 13, 2020

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An epidemic prevention employee sprays disinfectant at a workshop to prepare for resuming work in Qingdao, East China's Shandong province, on Feb 9, 2020.  (File photo: Xinhua)

BEIJING, Feb. 12 (Xinhua) -- China will step up financing guarantee support for virus-related enterprises and epidemic-stricken small and micro enterprises (SMEs), according to a recent guideline.

The guideline from a state financing guarantee fund unveiled measures to improve financing guarantee services for key enterprises in prevention and control and regions severely affected by the novel coronavirus outbreak.

Specifically, the fund will provide re-guarantee services for loan guarantee programs of epidemic control and prevention companies, and half the re-guarantee fees for loan guarantee programs of Hubei-based enterprises seriously hit by the outbreak.

All levels of governmental guarantee institutions should ensure smooth transitions and accelerate lending. Meanwhile, the fund was urged to speed up the examination of compensatory programs.

The fund has also vowed to offer favorable policies to SMEs, start-ups and other economic entities prone to the outbreak.

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