ICBC takes more steps to support small businesses in work, production resumption
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E-mail Xinhua, February 19, 2020
The Industrial and Commercial Bank of China (ICBC), China's biggest commercial lender, has taken well-targeted measures to support small businesses in resuming work and production, sources with ICBC said Tuesday.
ICBC has renewed loans, extended loans and adjusted payments for the enterprises producing, circulating and transporting the epidemic prevention materials and small businesses hit hard by the virus. About 14,000 small enterprises have been provided with such services from ICBC since the novel coronavirus outbreak.
The credit limit for enterprises with big demand for capital and seriously affected by the epidemic was increased to 10 million yuan (about 1.43 million U.S. dollars) by ICBC.
ICBC has also promoted online innovative financial services, offering online credit loans covering domains such as epidemic prevention, medical insurance and employment for small businesses to better resume work and production.
More than 70,000 small enterprises have benefited from its online services, according to ICBC.
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