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ICBC Loans RMB3.4 Billion to Enterprises of Medical Supplies
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Industrial and Commercial Bank of China spares no efforts in the fight against the new coronavirus by supporting enterprises of medical supplies to resume and expand production. As of January 31, the bank has provided RMB3.4 billion in emergency loan to more than 200 firms via its green channel.

According to sources, ICBC took the initiative to meet emergent financing demand of medical institutions, pharmaceutical and medical equipment manufacturers, pharmaceutical distributers, epidemic prevention and health utilities, medical research organizations, etc., by taking such measures as special service plan, green approval channel, credit line arrangement, prime rates and so on.

Among all the measures, ICBC granted RMB400 million in emergency loan to China General Technology, boosting its manufacturing of medical protective clothing. The bank approved and injected RMB200 million of working capital loan into China Meheco Group in merely one day, helping the company purchase and deliver 177,000 masks, 121,800 mercurial thermometers, 3,900 medical protective clothing, and 3,000 safety goggles to institutions battling the epidemic. The bank also tried its best to guarantee medical supply in epidemic-stricken area by assisting China Technology Service in importing 40,000 hand sanitizer, antiviral interferons and so on. Via online financing and other green and quick financing facilities, ICBC offered quick and preferential financing support to small and micro enterprises in Hubei and other provinces, helping them overcome the hard times.

In the meanwhile, ICBC strives to satisfy emergency funds demand in traffic and transportation, as well as other sectors. For example, it increased credit line of and gave green light to wealth management redemption by airports and airlines in Beijing, Zhejiang, etc., allowing railways and hospitals in Beijing, Shanghai, Hunan, Henan, Gansu, Fujian, Anhui, etc., to withdraw over RMB60 million in cash.

(中国工商银行 2020-02-28)