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Zhongguancun Bank fights the epidemic with companies in Beijing
( chinadaily.com.cn )
Updated: 2020-02-11

In accordance with the relevant requests of the Party Central Committee, Zhongguancun Bank continued to increase financial support to private enterprises, small and micro-enterprises and key areas such as manufacturing, increased the proportion of credit loans and medium- and long-term loans, and reduced the financing costs for enterprises. Besides, the Bank understood the service modes of medical institutions, scientific research institutes and enterprises engaged in epidemic prevention and control, and provided credit lines and preferential interest rate for them.

The People's Bank of China issued the "Notice on Issuing Targeted Re-lending Funds to Support Aniti-Novel Coronavirus Pneumonia" on Jan 31, 2020. According to which, financial institutions will provide prime-based loans to key enterprises producing, transporting and selling urgently-needed medical supplies and living materials through targeted re-lending. A list of these key enterprises has been released by the People's Bank of China on Feb 4. Zhongguancun Bank, as one of the three Beijing banks issuing targeted re-lending funds, issued a special loan of 50 million yuan to Beijing Hualian Group on Feb 4, which is the first targeted re-lending fund issued by a Beijing local bank since the outbreak of epidemic.

It is reported that since the outbreak of epidemic, more than 10,000 employees in 150 supermarkets of Hualian Group have insisted to provide services to the people. Since the Chinese New Year's Eve, Hualian Beijing Supermarkets have provided affordable meat, eggs, milk, vegetables, etc. to nearly 130,000 Beijing citizens daily.

On February 1, After learning that the Hualian Group was raising funds to procure epidemic prevention supplies for Beijing residents and many emergency units, Zhongguancun Bank issued the prime-based loan (with an interest rate of only 3.15%), helping the Group to complete the overseas procurement of epidemic prevention supplies worth 100 million yuan. The first batch of infection supplies procured with the funds will be available in all Hualian Beijing Supermarkets on next Wednesday.

In face of the epidemic, Zhongguancun Bank opened the internal and external green channels for examination and approval, continued to provide loans to enterprises, especially micro, small, and medium-sized enterprise, that suffered due to the epidemic, renewed the loans for enterprises meeting requirements, and provided the maximum preferential interest rate for first-line enterprises.

As of February 8, Zhongguancun Bank has processed more than 20 special epidemic prevention projects involving 1.969 billion yuan. 7 projects are in transit, involving 1.120 billion yuan, and 5 projects are approved, involving 466 million yuan. Besides, more than 60 epidemic prevention-related loan projects are being carried forward.