Customs Duty e-Loan 2.0 implemented in Qingdao FTZ

The launch ceremony of the "Customs Duty e-Loan 2.0" product takes place in Qingdao. [Photo/WeChat ID: qingdaozimao]

Qingdao Customs and Qingdao Rural Commercial Bank recently launched the "Customs Duty e-Loan 2.0" product.

Sportrak Tire Co Ltd, located in the Qingdao Area of the China (Shandong) Pilot Free Trade Zone (Qingdao FTZ), was one of the first to benefit from the product when it received approval for a credit line of 3 million yuan ($410,153.86).

The product caters to the financing needs of import and export companies that require swift and efficient financing. It has a minimum annual interest rate of 3.65 percent and is targeted at micro, small, and medium-sized enterprises.

Sportrak Tire Co Ltd becomes one of the first batch of enterprises to benefit from the product. [Photo/WeChat ID: qingdaozimao]