Jinkela Investment, a jewelry company founded in Luohu 22 years ago, has just obtained a three-year loan from the Bank of China’s Dongmen branch in Luohu, thanks to the Luohu district government’s bailout policies.
The policies aim to help enterprises and residents overcome their financial difficulties caused by the COVID-19 epidemic.
The district government and the banks are working together to provide loans and other financial services to the hard-hit enterprises and businesses in the epidemic, particularly the micro, small and medium private businesses in wholesale and retail, accommodation and catering, logistics and transportation, tourism, culture and sports entertainment, and other areas.
Focusing on reducing financing costs and strengthening bank-enterprise connection, the bailout policies introduce credit enhancement services and loan interest subsidies, which amounts to 1 million yuan ($154,600) at the most.
The government also encourages the banks and other financial institutions to step up financing services during the epidemic, improve the efficiency of financial services, and provide precise financial aids for the real economy in the jurisdiction so as to maintain economic stability, create jobs and guarantee people’s livelihoods.