Fujian Set Up 5 Billion Yuan Special Fund Loan For Textile, Footwear And Clothing Industry

Recently, the Ministry of industry and information technology of Fujian Province, the Provincial Department of finance, the provincial financial supervision bureau, the central sub branch of the people's Bank of China, and the Fujian banking and Insurance Regulatory Bureau jointly issued the notice on the establishment of a special fund loan for the relief of the textile, footwear and clothing industry in Fujian Province, Fujian Province has set up a 5 billion yuan special fund loan to relieve the temporary liquidity difficulties faced by textile, footwear and clothing enterprises.

The special fund loans are mainly for the textile and footwear industry enterprises and Internet platform enterprises of textile and footwear industry which are included in the statistical scope, such as chemical fiber manufacturing, cotton spinning, weaving, clothing, shoe making, home textile, bags and so on. It focuses on supporting the small and medium-sized textile and footwear industrial enterprises which are temporarily difficult in production and operation but are still in production and operation due to the epidemic situation.

According to reports, the interest rate of special fund loans should not be higher than the one-year loan market quotation rate (LPR) + 50 basis points in the same period. For qualified special fund loans, the provincial finance shall give 1% discount interest subsidy on the basis of loan interest rate. The discount fund adopts the method of "subsidy first and then subsidy". When banks issue loans, the provincial discount funds are directly deducted. At present, Fujian Province has set up a special area of "relief loan for textile, footwear and clothing industry" on the platform of "jinfuyun".

(source: CCTV)