Beijing Takes Measures to Combat Epidemic and Reduce Burden on Enterprise
12 February 2020
On 3 February, Beijing issued Several Measures on Further Supporting the Battle of Prevention and Control of Pneumonia Caused by the Novel Coronavirus, in a bid to alleviate the challenges facing enterprises and promote stability in municipal operations. The 19 measures introduced have five key goals: further optimisation of services to speed up the approval of supplies necessary for epidemic prevention and control; provision of greater financial support for epidemic prevention and control work; provision of better services to businesses; allowing technological innovation to play a bigger role in epidemic prevention and control; and strengthening service guarantees with regard to the city’s operations.
In terms of providing better services to businesses, Beijing intends to alleviate the financing difficulties faced by enterprises. Banks will not call in loans, rescind loans or reduce loans on enterprises that encounter temporary difficulties in their operations due to the epidemic outbreak if they have credible prospects. Instead, the banks will strive to extend loans to such enterprises as far as possible and as quickly as possible. Online loan extension services will also be activated.
Source: Beijing Municipal People’s Government
- Mainland China