In March, with the help of local authorities, a total of 44.84 million yuan ($6.33 million) of credit funds were issued by banks and financial institutions to micro, small and medium-sized enterprises in the Guiyang Economic and Technological Development Zone (GETDZ) in Guiyang, capital of Southwest China's Guizhou province.
That's according to local officials who said on April 27 that the zone authorities continued to prevent and control the novel coronarivus epidemic.
But at the same time they encouraged and supported local financial institutions and commercial banks to actively help resolve the risk of corporate capital chain problems and effectively helped enterprises to tide over their current difficulties.
In addition, for micro, small and medium-sized enterprises affected by the epidemic and having difficulties in repaying due credit, the zone has encouraged financial institutions to appropriately reduce interest rates, adjust the repayment periods and find other ways to help enterprises get through their difficulties.
Up to until now, flexible repayments or loan amelioration methods have been used to solve the funding problem of 8.6 million yuan for these businesses, ensuring these enterprises with difficult repayments can successfully returned to work.
According to zone officials, the zone will continue to cooperate with local financial institutions and enterprises, making sure the financing demands of enterprises are met by financial institutions. It will also expand the channels of fund access for small and medium-sized enterprises in the zone, so as to reduce the cost of funds access and work together to get everyone over the epidemic.