All of the financial enterprises in Qianhai have resumed work amid the novel coronavirus (COVID-19) outbreak thanks to the anti-epidemic efforts by the Qianhai Cooperation Zone Authority.
The financial sector is one of Qianhai’s four pillar industries.
The authority has provided epidemic prevention gear to the financial enterprises, such as WeBank，Ping’an Bank and Merchants Union Consumer Finance Co., to prepare them for work resumption.
“We really appreciate the Qianhai authority for the 3,150 face masks it has given to us,” said a person in charge of the credit card department of Ping’an Bank Qianhai Branch, adding that the face masks were essential for them to resume work.
The person said assistance from the Qianhai authority also included exemption of office rent and home rent of its employees living in the talents housing provided by the authority.
The person said 100 employees of Ping’an Bank Qianhai Branch have been waived more than 300,000 yuan (US$42,857) in two months’ rent for the talents housing.
According to official figures, 55 financial companies in Qianhai Shenzhen-Hong Kong Fund Town have been waived rent for February and March, totaling 15.35 million yuan. The rent exemption has helped the enterprises address their cash flow difficulty incurred from the COVID-19 outbreak.
In addition, a special fund of up to 25 million yuan has been set up to encourage financial enterprises to innovate epidemic prevention-related products that address the financial difficulties of micro-, small- and medium-sized enterprises.
Applications from financial institutions that have donated anti-epidemic supplies and funds to the virus-hit areas, that have innovated financial products related to epidemic prevention, and that have provided financial support to firms affected by the epidemic, will be handled with priority.
Qianhai’s financial enterprises have made contribution to the anti-COVID-19 efforts.
WeBank has opened a green service channel during the epidemic outbreak. The bank tailor-made the credit policies for its clients and moderately reduced or exempted the loan interests for the small- and micro-sized enterprises, which were more vulnerable to the outbreak, among other financial assistances.
Xingbang Financial Leasing has adopted a 24-hour credit review and approval mechanism for pharmaceutical companies, medical supply manufacturers and hospitals. It also provided services such as deferred repayment, default interest exemption and credit protection to the clients affected by the epidemic.
China Nanshan Development (Group) Inc. has issued the first ever anti-epidemic bond of the free trade area, helping its subsidiary companies to overcome financial difficulties.
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