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Wuxi raises RMB 3 billion in loans via emergency financing mechanism
updated on:2020-02-13 15:05

Wuxi has recently launched an emergency financing mechanism and raised RMB 3 billion in loans to support key manufacturers of epidemic prevention and control supplies and enterprises affected by the epidemic.

Wuxi, located in the center of the Yangtze River Delta, is a strong manufacturing city with many producers of epidemic control supplies. In order to ensure that these enterprises work at full gear, the Wuxi Bureau of Industry and Information Technology and Wuxi Local Financial Supervision and Administration, along with a number of local financial institutions, have recently launched an emergency financing mechanism for epidemic prevention and control and raised RMB 3 billion in loans. A green channel of loan approval and rapid financing services will be available to related enterprises.

At present, China Development Bank (CDB) Jiangsu Branch, Bank of Jiangsu Wuxi Branch, Wuxi Rural Commercial Bank, Bank of Ningbo Wuxi Branch, and other banks have joined in the emergency financing mechanism and established special financing service channels. In addition, according to the emergency mechanism, Wuxi will give priority to the manufacturing enterprises, production and service enterprises facing temporary financing difficulties amid the epidemic which can restore production once the funding is in place.

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