Foreign Trade News: The Export Import Bank Of China Issued 28 Measures To Help Stabilize The Economy

Xinhua News Agency reporters learned from the Export Import Bank of China on June 3 that the Export Import Bank of China has played a role of policy finance to supplement weaknesses and cross cycle regulation, and has issued 28 policy measures to help stabilize the economic market and the basic market of foreign trade and foreign investment.

The picture shows a container ship loading and unloading cargo at Qingdao port. Photo by Li Ziheng, a reporter from Xinhua News Agency

The policy measures introduced this time mainly involve four aspects, namely, helping the market main body to ease the business pressure of enterprises; Enhance the ability of resource allocation and social service; Ensure smooth operation and stabilize the supply chain of manufacturing industry chain; Improve financial services, improve the efficiency of service enterprises.

The export import bank said that it would reduce the loan interest rate level, exempt enterprises from transfer and remittance fees, and reduce payment and settlement fees by half to benefit enterprises affected by the epidemic. We will provide support for the extension of interest payment and non repayment of principal for SMEs, extend the validity of the credit extension scheme for SMEs' customers, make good use of direct loan and re lending products, and effectively support the development of small and micro enterprises.

The export import bank will focus on key areas such as epidemic prevention and control, return to work and production, stabilize foreign trade and foreign investment, and ensure the stability of the industrial chain and supply chain, and increase credit supply. At the same time, we should increase support for major projects, provide more medium and long-term loans, and give full play to the long-term support role of policy banks.

At the same time, the Exim Bank will also increase its support for core enterprises and supporting enterprises in the industrial chain supply chain, promote the credit transmission of core enterprises to the upstream and downstream small and micro enterprises, and ease the financing difficulties and high financing costs of small and micro enterprises. Make good use of the green channel mechanism of major projects' early intervention and business approval to meet the needs of enterprises for the efficiency of capital investment. Give full play to the advantages of science and technology, enrich the online channel business and online banking transaction varieties, and solve the problem that customers are difficult to come to the counter during the epidemic period.

According to the data, from January to May this year, the export import bank granted 855.1 billion yuan of loans, including 631.5 billion yuan of loans for foreign trade industry, an increase of 10.7% year-on-year. As of the end of May, the foreign trade industry loan balance of the export import bank was 2.57 trillion yuan, up 17.6% year on year.