Guangzhou's Huangpu district has been proactive in matching medium, small, and micro-sized enterprises, as well as individual businesses with bank resources this year to help them navigate through the negative impact caused by the COVID-19 pandemic.
As of mid-September, nine matchmaking fairs had been held, in which the banks introduced their characterized financial products and preferential policies, as well as had on-site discussions with enterprises in terms of financing.
Bank staff members introduce their characterized financial products and preferential policies to enterprises and individual businesses.
A total of 784 medium, small, and micro-sized enterprises, as well as individual businesses had benefitted from the fairs, obtaining more than 3.34 billion yuan ($496 million) in credit.
To increase the efficiency of bank-enterprise matchmaking, the Huangpu market supervision bureau has formulated a catalogue of enterprises and individual businesses that have operational difficulties through field investigations and sent it to cooperative bank outlets.
The bureau not only encourages that banks increase their financial input and lower loan interests, but also supports them to launch customized services, such as credit loans and deferred payments for enterprises with not much assets, mortgages, and guarantees.