China Strengthens Financial Support for Pandemic-Compromised Businesses
26 May 2022
Business Advisory Section, HKTDC Research
Local financial departments have been urged to deploy their resources to aid any business struggling in the wake of the ongoing pandemic. The call came in a circular issued by the Ministry of Finance on 25 May and specifically referred to the provision of enhanced guarantees for small, medium, micro-enterprises and individually-owned businesses active in the transportation, catering, accommodation or tourism sectors, as well as in other areas deemed to be vulnerable. Essentially, the move is geared to ensuring such businesses get access to local government financing guarantees, as well as providing lower interest rate guaranteed loans to start-ups and enhanced risk coverage for those requiring agricultural insurance.
- Banking Services
- Mainland China