Wuhan Economic & Technological Development Zone (WHDZ) -- in Wuhan in China’s Central, Hubei province -- is actively helping and encouraging the return to work and production by its resident companies by offering funding through the services of China Construction Bank, Hubei Branch, according to WHDZ officials.
They said the WHDZ and the bank will jointly establish a white list of Enterprise Work Resumption Assistance Programs and implement dynamic management.
For enterprises included on the list, the bank provides special preferential policies in terms of approval processes, credit scales, interest rate levels and principal and interest payment methods.
The bank will provide businesses resident in the zone with comprehensive financing support totaling no less than 10 billion yuan ($1.41 billion).
There are special financial products and services for small and micro-sized enterprises in the zone, with a single loan of up to 30 million yuan.
Temporary deferred repayments of principal and interest can be given on a company's existing loans.
Officials said that with the help of the WHDZ and the bank, centralized government policies and financial resources would be provided to help companies affected by the COVID-19 epidemic.
As the first State-owned bank to be introduced to the zone, China Construction Bank has been making great efforts in facilitating the development of enterprises in the WHDZ -- including the allocation and remittance of funds and with the payment of wages -- since the coronavirus outbreak.
The bank actively declared 10.4 billion yuan of comprehensive credit for enterprises in the zone, accumulated over 200 million yuan of special loans for epidemic prevention and control and issued loan extensions for 34 small and micro enterprises.
