The General Office of the Ministry of Commerce ("MOFCOM") has recently issued the Circular on Intensifying Collaborative Linkage and Promoting Greater Financial Support to Stabilize Foreign Trade and Foreign Investment and Boost Consumption (the "Circular").
The Circular contains the following provisions: 1. Promptly find out financial demands of enterprises, and coordinate in resolving the difficulties of enterprises. 2. Intensify the information sharing with financial institutions. Subject to compliance with relevant provisions, push forward the precise supply-demand connection, actively provide branches of the People's Bank of China and local financial institutions with the information on industrial enterprises with demands for financial services, including but not limited to micro, small and medium-sized enterprises, labor-intensive enterprises and local leading import and export enterprises. 3. Strive to create a good policy environment. Encourage financial branches of all places to study and promulgate special measures in combination with actual conditions, keep enhancing the quality and effects of financial services, help enterprises raise financing availability and reduce financing costs, and guarantee the operation of capital chain, to relieve the problems of difficult, expensive and slow financing of enterprises. 4. Tighten organizational guarantee.