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ICBC Takes Measures to Boost Work Resumption by SMEs
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To boost work resumption by small and micro enterprises (SME), Industrial and Commercial Bank of China further launches a series of targeted measures to help them walk out of woods. 

First, loan renewal and other services are optimized. Aiming at the producers, distributers, and shippers of medical materials, and SMEs in the coronavirus-hit sectors, including wholesale & retail, accommodation & catering, logistics and transportation, culture & tourism, ICBC, in accordance with their reasonable needs, offers loan renewal, rollover, repayment adjustment, etc., to relieve their difficulties on financing and repayment. Since the outbreak of the epidemic, the bank has served 14,000 SMEs with these services. 

Second, credit line is increased to RMB10 million. To SMEs with large funds demands due to the epidemic, ICBC adds the credit line to RMB10 million to assist them in battling against the coronavirus disease 2019 (COVID-19) and in resuming work and expanding production.

Third, more benefits are provided. Special prime rates are offered by the bank to the key SMEs in the fight against COVID-2019, in order to cut their financing cost. To the SMEs in the seriously hit Hubei Province, interest rates are further reduced.

Fourth, innovation is encouraged to improve online financial service. Taking advantage of its green and convenient online financing, ICBC provides special online credit loan, such as Epidemic-prevention Loan, Health Insurance Loan, and Employment Loan, to SMEs resuming work to battling against COVID-2019. In total, the bank has granted over RMB35 billion in online credit loan, serving more than 70,000 SMEs.

Fifth, comprehensive and integrated service support are offered. ICBC builds a service team consisting of credit professionals and opens a green channel to streamline business procedures, by which SME loans can be approved in a timely manner as long as requirements concerned can be met. In the meanwhile, such services as payment, settlement, consulting, etc., are also provided accordingly to meet SMEs’ needs for integrated services featured by “financing + intelligent + business”.

(中国工商银行 2020-02-28)