Circular of the General Office of the China Banking and Insurance Regulatory Commission on Further Ensuring Financial Services for Epidemic Prevention and Control
Circular of the General Office of the China Banking and Insurance Regulatory Commission on Further Ensuring Financial Services for Epidemic Prevention and Control
Circular of the General Office of the China Banking and Insurance Regulatory Commission on Further Ensuring Financial Services for Epidemic Prevention and Control
Yin Bao Jian Ban Fa [2020] No. 15
February 14, 2020
All banking and insurance regulatory bureaus, all policy banks, large banks and joint-stock banks, foreign-funded banks, financial asset management companies, all insurance group (holding) companies, insurance companies and insurance asset management companies, and all entities administrated by the China Banking and Insurance Regulatory Commission,
In order to further implement the major decisions and plans made by the Central Committee of the Communist Party of China ("CPC") and the State Council, impel the banking and insurance sectors to effectively provide financial services for prevention and control of the novel coronavirus pneumonia epidemic, help win the battle against the epidemic, and better support the development of the real economy, the near-term key work matters are hereby notified as follows:
I. Ensuring Financial Services to Support Enterprises' Resumption of Work and Production
1. Giving full support to the enterprises engaged in the epidemic prevention and control to expand their production capacity. Full financing support shall be given to the research and development of therapeutic drugs and vaccines and other key fields of health care, as well as related enterprises such as important material manufacturers and transportation logistics enterprises, focusing on the needs of epidemic prevention and control. The preferential interest rate and high-quality financial services shall be provided to support enterprises in the resumption of production capacity and expansion of production in various ways, including making good use of the policies made by the CPC Central Committee, setting up a special mechanism, fully empowering and active liaison as well as reducing financing costs. Insurance institutions are encouraged to provide the personnel at the frontline of epidemic prevention and control with favorable insurance services such as accident, health, endowment and medical insurance based on their own conditions.
2. Fully serving enterprises affected by the epidemic to resume work and production. All banking institutions must make plans ahead of time, immediately get the enterprise information, optimize credit flow, reasonably extend the loan period and effectively reduce the fees and interest to support the enterprises affected by the epidemic in orderly and efficient resumption of production and operation.
......
Yin Bao Jian Ban Fa [2020] No. 15
February 14, 2020
All banking and insurance regulatory bureaus, all policy banks, large banks and joint-stock banks, foreign-funded banks, financial asset management companies, all insurance group (holding) companies, insurance companies and insurance asset management companies, and all entities administrated by the China Banking and Insurance Regulatory Commission,
In order to further implement the major decisions and plans made by the Central Committee of the Communist Party of China ("CPC") and the State Council, impel the banking and insurance sectors to effectively provide financial services for prevention and control of the novel coronavirus pneumonia epidemic, help win the battle against the epidemic, and better support the development of the real economy, the near-term key work matters are hereby notified as follows:
I. Ensuring Financial Services to Support Enterprises' Resumption of Work and Production
1. Giving full support to the enterprises engaged in the epidemic prevention and control to expand their production capacity. Full financing support shall be given to the research and development of therapeutic drugs and vaccines and other key fields of health care, as well as related enterprises such as important material manufacturers and transportation logistics enterprises, focusing on the needs of epidemic prevention and control. The preferential interest rate and high-quality financial services shall be provided to support enterprises in the resumption of production capacity and expansion of production in various ways, including making good use of the policies made by the CPC Central Committee, setting up a special mechanism, fully empowering and active liaison as well as reducing financing costs. Insurance institutions are encouraged to provide the personnel at the frontline of epidemic prevention and control with favorable insurance services such as accident, health, endowment and medical insurance based on their own conditions.
2. Fully serving enterprises affected by the epidemic to resume work and production. All banking institutions must make plans ahead of time, immediately get the enterprise information, optimize credit flow, reasonably extend the loan period and effectively reduce the fees and interest to support the enterprises affected by the epidemic in orderly and efficient resumption of production and operation.
......