Guiyang's State-owned bank issues 30 measures benefiting enterprises

Guiyang Rural Commercial Bank fulfilled the responsibility of local financial State-owned enterprises and recently issued the "Implementation Plan of Guiyang Rural Commercial Bank to Promote Economic Stability Financial Services".

The bank has introduced 30 specific measures in six areas to maximize relief for enterprises and promote overall economic and social stability.

The measures involve comprehensively increasing credit support, making good corporate bailout financing arrangements, expanding small and micro benefits, increasing financial support in the field of rural vitalization, increasing support for strategic emerging industries, and increasing basic livelihood security.

Funds guided by the bank will prioritize struggling enterprises. The bank will accelerate loan renewals, extensions and other businesses for eligible market entities, as well as increase financial support for catering enterprises and their upstream and downstream supply chain enterprises.

At the same time, the bank will support the development of agricultural industries such as ecological beef cattle, live pigs, and forestry with high economic value. It will also make good use of monetary policy tools that directly reach the real economy and re-loan and re-discount funds, and strongly support the development of small and micro-sized private enterprises and agriculture-related enterprises.

It plans to add 3.3 billion yuan ($486.18 million) in new loans by the end of the year to help bail out companies with a total of more than 34 billion yuan in loans planned for the whole year.