Chinese banks’ anti-epidemic credit support exceeds 740 bln yuan

BEIJING — Chinese banking institutions had offered credit support of over 746 billion yuan (about $106.53 billion) as of Wednesday noon to boost production restoration amid epidemic control efforts.

Financial institutions in the banking sector have worked to meet firms’ financing needs for epidemic prevention and control, the China Banking Association said Thursday.

While increasing credit supply, banking institutions have donated 2.06 billion yuan and over 10 million items of related supplies as of Wednesday noon.

According to the association, 30 overseas-funded banks had provided loans of over 7.55 billion yuan to related firms for epidemic prevention and control and production.

Interest rates of the loans were generally 0.5 to 0.75 percentage points lower than the prevailing rates, said the association.