The State Council joint prevention and control mechanism: to aid enterprises, stabilize foreign trade, benefit the people's livelihood, the financial sector to take multiple measures to support the resumption of work and production.
The State Council's joint prevention and control mechanism held a press conference on the 15th to introduce financial policies to support epidemic prevention and control and the resumption of work and production. Relevant persons in charge of the People's Bank of China, the China Banking and Insurance Regulatory Commission, the Agricultural Development Bank of China and the Agricultural Bank of China answered media questions on special loans and poverty alleviation loans.
The People's Bank of China set up a special re-loan of 300 billion yuan to fight the epidemic on January 31 this year. Sun Guofeng, director of the Monetary Policy Department of the People's Bank of China, said that as of March 13, the People's Bank of China had issued a special refinancing loan of 184 billion yuan, and 9 national banks and local corporate banks in 10 provinces and cities had issued a total of 182.1 billion yuan in preferential loans, with an average of 40 million yuan per enterprise. At present, the tension of medical goods has been significantly alleviated, the supply of living materials is sufficient, and the policy effect of special re-loan is remarkable.
He said that in order to support the resumption of work and production, the People's Bank of China on February 26, the new re-loan, re-discount line of 500 billion yuan, cut the agricultural support small re-loan interest rate by 0.25 percentage points, to achieve incremental, price reduction, expansion. As of March 13, local corporate banks supported by the 500 billion yuan re-loan and rediscount policy have issued a total of 107.5 billion yuan of preferential interest rate loans.
"As a next step, the PBoC will continue to take a combination of measures to promote a significant decline in lending rates and support enterprises to resume work and economic development." Sun Guofeng said.
According to reports, as of March 14, the Agricultural Development Bank supported a total of 1649 epidemic prevention enterprises, issued emergency loans of 53.5 billion yuan; support 2650 enterprises to resume work and production, issued loans of 137 billion yuan, of which, small and medium-sized enterprises accounted for 78%. At present, ABC has extended a total of 0.13 billion yuan of loans for 252 small and micro enterprises, adjusted the repayment plan for 0.87 billion yuan of loans for 489 small and micro enterprises, and provided renewal services for 6.27 billion yuan of loans for 933 small and micro enterprises.
In addition to the refinancing and rediscounting policies, the financial management departments, especially the CBRC, have issued a number of policies to temporarily delay the repayment of principal and interest for small and medium-sized enterprises in operational difficulties to support epidemic prevention and control and the resumption of work and production by enterprises. Ye Yanfei, a first-level inspector of the Policy Research Bureau of the CBI, said that banking financial institutions have provided more than 1.4 trillion yuan in credit support to fight the epidemic. Credit rose about 130 billion yuan in January-February year-on-year.
The supply of pork is related to the price level and people's livelihood. It is understood that since the beginning of this year, the Agricultural Development Bank has issued a total of 10 billion yuan in pig loans. At present, the balance of pig industry loans has increased by 5.7 billion yuan, or 39%, compared with the beginning of the year. The Agricultural Bank of China has specially issued 19 special measures for the development of pig production, actively supporting pig breeding, slaughtering and processing, transportation and circulation, feed production, epidemic prevention and control and other pig industry chains, and strives to double the loans related to pig production this year on the basis of last year.
In response to the impact of the spread of the global epidemic on foreign trade, Ye Yanfei said that the CBIRC will encourage banks to increase trade financing, urge and guide financial institutions, especially banking institutions, to appropriately expand the authorization of branches in foreign trade business, make arrangements such as deferred repayment of principal and interest to ensure a continuous capital chain for small and micro foreign trade enterprises that do encounter difficulties affected by the epidemic, and urge banking institutions to strengthen interaction to solve the problem of payment and settlement channels affected by the epidemic.
Ye Yanfei said that in the next step, the bank will focus on supporting small and micro enterprises and private enterprises, better supporting the resumption of work and production, strengthening the collaborative support of the industrial chain, increasing support for major projects, and better supporting new consumption and consumption recovery through consumer credit according to the actual situation.
This year is a decisive year for poverty alleviation. Lin Li, vice president of the Agricultural Development Bank, said that the Agricultural Development Bank will adhere to its objectives and tasks and compact its responsibilities layer by layer. Special preferential policies will be issued to poverty-stricken areas greatly affected by the epidemic and 52 poverty-stricken counties that have not taken off their hats. For the designated poverty alleviation counties that have been lifted out of poverty, efforts will be made to consolidate the achievements of poverty alleviation, actively cooperate with local governments to ensure the completion of the task of poverty alleviation.
Information source: China Government website
Editor He Yang of this website/Organizing
