07 February 2020 – Discounted loan interest rates for certain businesses

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Business support
Sectors Involved:
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Chinese Government discounted 50 percent of loan interest rates for certain businesses to ensure the actual financing cost of the enterprise falls below 1.6 percent and the discount period does not exceed one year.

The policy applies to enterprises that have special re-loan support of the People’s Bank and to new contracts applied for during the epidemic prevention and control period.
Full details here: http://www.scio.gov.cn/xwfbh/xwbfbh/wqfbh/42311/42494/wz42496/Document/1672849/1672849.htm