East China's Shanghai city is now on track for its industry to resume work and production following the COVID-related citywide lockdown – as the metropolis moves to safeguard its supply chains.

Moreover, the city's banks and insurance institutions have also joined in the effort to get back to business, providing financial support to local firms.

The Bank of Communications Shanghai branch has offered loans of 835 million yuan ($128.67 million) since March to 17 enterprises.

A pharmaceutical company in Shanghai was one of the beneficiaries in the assistance from the banks. Due to the impact of the epidemic, a lack of cashflow meant the payment collection cycle of the company had to be extended.

When the Bank of Communications Shanghai Hongkou district branch learned of the company's capital needs, it issued a working capital loan of 4 million yuan within two days to pay salaries and electricity bills.

Overall, smooth logistics transportation is understood to be important for the resumption of work and production in Shanghai.

From March 1 to April 12, the China Construction Bank Shanghai branch provided a total of 960 million yuan in credit support for transportation, storage and postal services.