Nanfang Plus: Huangpu, banks cooperate to help private companies resume operation

A signing ceremony was held by the Huangpu industry and commerce association on March 25, signifying their cooperation with local banks in offering assistance for local companies to resume production.

A signing ceremony is held by the Huangpu industry and commerce association on March 25, signifying their cooperation with local banks in offering assistance for local companies to resume production. [Photo by Liang Wenxiang/Nanfang Plus]

Seven banks in Huangpu district have signed seven separate letters of intent with seven local companies, and the total contracted loan amount is more than 200 million yuan ($28.14 million).

Financial products provided by 11 banks in Huangpu have been made available to deal with the current situation caused by the outbreak of novel coronavirus pneumonia.

Strategic cooperation framework agreements have also been signed by the association and five banks' branches in Guangzhou, including Huaxia Bank and the Bank of Communications.

Financial services with low interest rates have been offered during the epidemic, of which the lowest rate is only 2.05 percent. A total of 26 kinds of fees can be waived, such as the insurance fee on credit risk.

All 1,016 industrial companies above designated size in Huangpu have resumed production by March 25, while 2,634 companies above designated size in the service industry have resumed operation, accounting for 99.58 percent of the total amount in the district.

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