BEIJING: China will roll out a set of strong financial policies, including encouraging financial institutions to provisionally defer loan payments and increasing lending at concessional rates for micro-, small- and medium-sized enterprises, as part of effort to help them overcome temporary difficulties. "Statistics show that only a small percentage of micro-, small- and medium-sized businesses have restarted operation. The meeting decided on additional financial measures in line with market principles and the law to support micro-, small- and medium-sized companies in restarting operation. For eligible micro-, small- and medium-sized firms, including household businesses, with temporary liquidity difficulty, financial institutions will be encouraged to provisionally defer their loan principal repayments. Policy banks will add a 350-billion-yuan special credit quota to be issued to micro-, small- and medium-sized firms at preferential rates.

Source: The Star February 25, 2020 16:41 UTC