To help get through the novel coronavirus outbreak, 45 types of finance products and three categories of them were launched on March 23 in the city of Zibo – located in East China's Shandong province – to enable enterprises to fully resume their operations.
The products – which target small and medium-sized enterprises and individual entrepreneurs affected by the epidemic – include 20 personal business loan products, 19 corporate loan products and six financial insurance products, featuring wide coverage, low costs, pure credit-based loans and flexible processing.
Among the bank loan products, the interest rate on 28 products is 4.35 percent or less and the lowest is 3.7 percent.
Meanwhile, in the wake of epidemic prevention and control measures, banks and insurance companies are offering online methods to process finance applications.
It is expected that the financial products will greatly help to ease the pressure on enterprises, expand production and release production capacity, so they can get back to business fully.
Plans are for Zibo's financial supervision departments and financial institutions to increase their efforts to promote financial products, while focusing on follow-up services.
It is believed that by keeping abreast of the latest developments in real time business operations, the municipal government will ensure that financial products play a strong role in promoting economic and social development – and that, most importantly, they truly benefit both enterprises and people.
