Introduction
Corporate Culture
Corporate Structure
Corporate Strategy
ICBC History
News
Awards & Rating
Global Websites
 You are here: Home  >  About Us  >  News
ICBC Gives Full Support to SMEs Fighting the 2019-nCoV
 
FontSize A A A  

Industrial and Commercial Bank of China, aiming at the financial needs of small and micro enterprises (SME) in preventing and controlling the spread of the novel coronavirus (2019-nCoV), promptly took multiple measures featuring “special service + green channel + preferential policy” to build up its financial support to SMEs, helping them through this hard times and providing financial security on the supply of medical materials. By the end of January 31, the bank had granted over RMB700 million in loan to more than 840 SMEs battling against the 2019-nCoV.

1. Special services are provided to SMEs. In view of the special needs to prevent and control the epidemic, ICBC formulated special measures to increase inclusive finance loan and strengthen inclusive financial service in key areas, in order to meet reasonable funds demands of the enterprises battling against the epidemic. Among them, the bank offered SMEs in Hubei “six special” measures, including credit approval, funds supply, business consulting, etc., to assist them in resuming and expanding production of medical supplies. On January 30, it issued a RMB2 million loan to a labour service company, boosting the construction of Huoshenshan Hospital.

2. Green channel is opened specially for SMEs to greatly enhance the efficiency of financing approval. SME loan met relevant requirement can be reviewed and approved in a timely manner. Targeting at companies that manufacture, distribute and transport the medical supplies, as well as the sectors seriously affected by the epidemic, such as the wholesale and retail, accommodation, catering, logistics transportation, culture and tourism, etc., ICBC, taking into consideration local conditions, applied prime rates, loan renewal and other measures to help SMEs in the aforementioned sectors through the hard times. For instance, ICBC instantly approved RMB600,000 in online financing to a logistics firm in Shijiazhuang, helping it deliver face masks, disinfection and sterilization supplies to Hubei. Before and during the Chinese New Year, the bank also quickly granted a RMB4 million credit loan to a company manufacturing medical and health products in Hefei City, giving powerful impetus to its production.

3. Convenient and preferential policies are launched for SMEs. For example, prime rates are given to SMEs, individual businesses, as well as drug stores under health insurance credit in Hubei Province. Since the public holiday was extended, ICBC accordingly cut SMEs’ burden by prolonging the due date of repayment, waiving overdue interests, etc..

4. Online financing services are further backed up. Taking into full play its advantages on online financing, ICBC improves efficiency in approving the Internet financing, providing SMEs green and convenient financing services that save them the trouble of going out. To assist a firm in Xiantao of Hubei in resuming and expanding production of medical materials, the bank extended a credit of RMB1 million in just one day via its green channel of online financing. Prime rates are also offered to the company for the purpose of speeding up the supply of protective closing. ICBC Suzhou Branch, by means of such online financing products as Quick Business Lending, e-Mortgage Quick Loan, etc., had provided online financing to 120-odd SMEs. ICBC Shaanxi Branch also took the initiative to extend more than RMB200 million in credit to SMEs involving in the epidemic prevention and control. 

5. Innovation on service is reinforced to boost epidemic prevention and control, among which health insurance credit is promoted to drug stores nationwide to support the procurement and supply of medical materials. ICBC issued a RMB5 million loan to a pharmaceutical corporation in Qingdao, helping it expand its purchasing of medical supplies.

6. Taking into full play its advantages on resource and customer base, ICBC have mobilized resources as widely as possible to deploy medical supplies to the affected areas. As soon as learning the news that Harbin No.4 Hospital was running out of ethanol for disinfectant, the bank liaised with its clients in medical sector, who produced and delivered 500-litre 75% medicinal alcohol to the hospital overnight. ICBC Guangxi Branch also coordinated with local enterprises to deliver 500-litre disinfectant in 100 barrels and over 4,000 protective masks to Wuhan.


(中国工商银行 2020-02-28)
[Close]