Lately, ICBC and the National Development and Reform Commission (NDRC) jointly launched credit measures to support private enterprises in Hubei. ICBC would arrange special credit line for private companies in Hubei, and further optimize the approval process, increase supply chain financing, and adopt special rating models. In addition, it would work with the NDRC to promote credit information sharing and boost support for the economic and social development in Hubei.

Specifically, the both sides will make full use of their respective advantages to focus on competitive industries and industrial clusters in Hubei, and strengthen support to private manufacturing enterprises such as equipment manufacturing, energy and chemical industries, telecommunications operations, foreign trade and foreign investment, especially key SMEs, leading the resumption of work and production in the whole industrial chain. ICBC also paid attention to private enterprises in emerging industries, such as intelligent manufacturing, unmanned delivery and health care, as well as those involved in poverty alleviation, rural revitalization, environmental improvement and public health projects, etc.. Meanwhile, combined with the industrial characteristics of Hubei, it also implemented pilot study on supply chain financing to actively meet the financing needs of SMEs.

As of the end of March, ICBC’s outstanding loans to private enterprises exceeded RMB2 trillion, with both balance and increment leading its counterparts.