China Eximbank Exempted Monthly Loan Interest of Micro, Small and Medium Enterprises in Hubei Province and in Industries Hit Hard by the Novel Coronavirus Epidemic


  With the aim to implement the decisions and arrangements of the CPC Central Committee and the State Council, to coordinate financial services for coronavirus containment and to strengthen financial support for reform, development and stability, China Eximbank announced arrangements to exempt February’s loan interest for micro, small and medium business entities in Hubei Province and in industries severely affected by the epidemic including wholesale, retail, logistics and transportation. By taking practical actions, the Bank endeavored to help enterprises survive difficult times and resume their production and operation with relief of financial burdens resulting from the epidemic. This arrangement involves loans of nearly RMB160 billion and an exemption from loan interest amounting to about RMB600 million. In the next stage, China Eximbank will adopt measures to further reduce the financial burden on enterprises based on a more comprehensive inquiry into their needs.

  Since the outbreak of the epidemic, China Eximbank has given full play to its functions and has provided loans of nearly RMB4.5 billion for manufacturers of medical, pharmaceutical and anti-epidemic supplies in provinces and cities severely hit by the epidemic including Hubei, Zhejiang, Jiangsu, Shanghai, Fujian and Guangdong. At the same time, the Bank issued a RMB3 billion bond for novel coronavirus control. Funds raised will be used to support credit delivery for the prevention and control of the novel coronavirus.