Dalian releases financial policies to facilitate work resumption

To counter the impact of the COVID-19 pandemic, the Dalian Municipal  People's Government issued policies to implement targeted fiscal interest discounts for loans conforming to the special quota for supporting agriculture, rural areas, farmers and small, micro or individually-owned businesses.

The policy-based support is intended to further reduce financing costs. A financial interest discount of 1 percent of the loan amount is to be given to the agriculture, rural areas and farmers and small and micro enterprises and individual industrial and commercial households that obtain re-financing support within the whole city, so that agricultural, small and micro businesses, as well as individual businesses can resume production in an orderly manner.

This policy is based on the People's Bank of China's special quota policy for supporting those people and businesses that have obtained re-financing support in the city.

The discount interest scope includes agriculture-related loans and inclusive small-micro business loans granted by local corporate banking institutions such as the Bank of Dalian, Dalian Rural Commercial Bank and some village-level banks from Feb 26 to June 30.

The Dalian Bureau of Finance, in conjunction with the Dalian central branch of the People's Bank of China, will strengthen communication, coordination and information sharing and encourage and guide relevant financial institutions to make full use of the policies of re-financing and interest discounts, so that more agricultural, rural areas, small and micro businesses and individual businesses can enjoy preferential policies and be able to speed up their resumption of work and production.