China-Financial Policy Tools

Financial policy tools help SMEs resume business amid economic impacts of COVID-19

  • English

Shotlist


Zigui County, Hubei Province, central China - Recent (CCTV - No access Chinese mainland)
1. Aerial shots of navel orange farm
2. Basket of oranges
3. Various of farm owner talking to bank staff, opening orange
4. SOUNDBITE (Chinese) Nie Haihong, customer manager, Zigui branch of China's Postal Savings Bank (starting with shot 3):
"My client said he needed a large amount of money. Our bank looked into his case and offered a 500,000 yuan support loan to our client."
5. Aerial shot of Zigui branch of China's Postal Savings Bank

Taizhou City, Jiangsu Province, east China - Recent (CCTV - No access Chinese mainland)
6. Sign reading (Chinese) "Jiangsu Shenli Smart Equipment Company”
7. Various of workers, equipment in factory
8. Jiangsu Shenlide Smart Equipment Company chairman Hua Yuqin, staff talking in office
9. SOUDNBITE (Chinese) Hua Yuqin, chairman, Jiangsu Shenlide smart equipment company (partially overlaid with shot 10):
"The policy of deferring principal and interest repayments helped our business recover and eased the company’s financial pressure as well."
++SHOT OVERLAYING SOUNDBITE++
10. Machine operating in factory
++SHOT OVERLAYING SOUNDBITE++

FILE: China - Date Unknown (CCTV - No access Chinese mainland)
11. Bank entrance
12. Various of clients, staff in banks
13. Aerial shots of traffic

Hangzhou City, Zhejiang Province, east China - Recent (CCTV - No access Chinese mainland)
14. Various of screen showing financial services online platform

Rui'an City, Wenzhou City, Zhejiang Province, east China - Recent (CCTV - No access Chinese mainland)
15. Various of clients, bank clerks
16. SOUDNBITE (Chinese) Han Yongzhong, director, Rui'an branch of Agricultural Bank of China (starting with shot 15):
"The platform tackled the obstacles of asymmetric information and improved our service and business efficiency."
17. Various of screen showing online financial services
18. Man using laptop

Storyline


More and more Chinese micro, small or medium-sized enterprise are benefiting from the country’s inclusive financial policies after their businesses were hurt by the COVID-19 outbreak last year.

Zigui County, located in central China's Hubei Province, is known for its navel oranges. However, a recent cold front blocked outbound logistics, leaving many farm owners with cash flow problems.

After being informed about the situation and the needs of farm owners, a local bank issued them timely credit loans to help tide over their businesses.
"My client said he needed a large amount of money. Our bank looked into his case and offered a 500,000 yuan support loan to our client," said Nie Haihong, a customer manager at Zigui branch of China's Postal Savings Bank.

In July 2020, financial authorities rolled out a series of policies to provide inclusive financial support to small and mid-size enterprises (SMEs).

A smart device company in Taizhou City, east China's Jiangsu Province, has not fully resumed production yet, which means the firm cannot repay its loans.

After reviewing the company's application for the deferment of principal and interest payments on its loans, the local bank agreed.

"The policy of deferring principal and interest repayments helped our business recover and eased the company’s financial pressure as well," said Hua Yuqin, chairman of the company.

Chinese authorities released loan relief measures in March of 2020 to state-owned enterprises (SOEs). So far banks in China are still adopting the repayment extension measures to more than six trillion yuan (926 billion U.S. dollars) of loans.

Meanwhile, financial authorities in east China's Zhejiang Province as well as Guangdong in south China have been helping solve financing issues for SMEs by collecting big data.

A financial services online platform in Zhejiang, established last year, has already financed more than 940 billion yuan (145 billion U.S. dollars) for SMEs.

Connecting the data from 53 governmental organs, ranging from ecology and law enforcement to tax affairs and credit checks with banking systems, the platform has automatically raised over 310 billion yuan (about 47.8 billion U.S. dollars) in way of business-loan matchmaking.

"The platform tackled the obstacles of asymmetric information and improved our service and business efficiency," said Han Yongzhong, head of the Rui'an branch of Agricultural Bank of China.

DOWNLOAD
  • ID : 8173713
  • Dateline : Recent/File
  • Location : Various,China
  • Category : economy, business and finance
  • Duration : 1'55
  • Audio Language : Chinese/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Published : 2021-01-15 22:15
  • Last Modified : 2021-01-16 15:50:47
  • Version : 3

China-Financial Policy Tools

Financial policy tools help SMEs resume business amid economic impacts of COVID-19

Dateline : Recent/File

Location : Various,China

Duration : 1'55

  • English


Zigui County, Hubei Province, central China - Recent (CCTV - No access Chinese mainland)
1. Aerial shots of navel orange farm
2. Basket of oranges
3. Various of farm owner talking to bank staff, opening orange
4. SOUNDBITE (Chinese) Nie Haihong, customer manager, Zigui branch of China's Postal Savings Bank (starting with shot 3):
"My client said he needed a large amount of money. Our bank looked into his case and offered a 500,000 yuan support loan to our client."
5. Aerial shot of Zigui branch of China's Postal Savings Bank

Taizhou City, Jiangsu Province, east China - Recent (CCTV - No access Chinese mainland)
6. Sign reading (Chinese) "Jiangsu Shenli Smart Equipment Company”
7. Various of workers, equipment in factory
8. Jiangsu Shenlide Smart Equipment Company chairman Hua Yuqin, staff talking in office
9. SOUDNBITE (Chinese) Hua Yuqin, chairman, Jiangsu Shenlide smart equipment company (partially overlaid with shot 10):
"The policy of deferring principal and interest repayments helped our business recover and eased the company’s financial pressure as well."
++SHOT OVERLAYING SOUNDBITE++
10. Machine operating in factory
++SHOT OVERLAYING SOUNDBITE++

FILE: China - Date Unknown (CCTV - No access Chinese mainland)
11. Bank entrance
12. Various of clients, staff in banks
13. Aerial shots of traffic

Hangzhou City, Zhejiang Province, east China - Recent (CCTV - No access Chinese mainland)
14. Various of screen showing financial services online platform

Rui'an City, Wenzhou City, Zhejiang Province, east China - Recent (CCTV - No access Chinese mainland)
15. Various of clients, bank clerks
16. SOUDNBITE (Chinese) Han Yongzhong, director, Rui'an branch of Agricultural Bank of China (starting with shot 15):
"The platform tackled the obstacles of asymmetric information and improved our service and business efficiency."
17. Various of screen showing online financial services
18. Man using laptop


More and more Chinese micro, small or medium-sized enterprise are benefiting from the country’s inclusive financial policies after their businesses were hurt by the COVID-19 outbreak last year.

Zigui County, located in central China's Hubei Province, is known for its navel oranges. However, a recent cold front blocked outbound logistics, leaving many farm owners with cash flow problems.

After being informed about the situation and the needs of farm owners, a local bank issued them timely credit loans to help tide over their businesses.
"My client said he needed a large amount of money. Our bank looked into his case and offered a 500,000 yuan support loan to our client," said Nie Haihong, a customer manager at Zigui branch of China's Postal Savings Bank.

In July 2020, financial authorities rolled out a series of policies to provide inclusive financial support to small and mid-size enterprises (SMEs).

A smart device company in Taizhou City, east China's Jiangsu Province, has not fully resumed production yet, which means the firm cannot repay its loans.

After reviewing the company's application for the deferment of principal and interest payments on its loans, the local bank agreed.

"The policy of deferring principal and interest repayments helped our business recover and eased the company’s financial pressure as well," said Hua Yuqin, chairman of the company.

Chinese authorities released loan relief measures in March of 2020 to state-owned enterprises (SOEs). So far banks in China are still adopting the repayment extension measures to more than six trillion yuan (926 billion U.S. dollars) of loans.

Meanwhile, financial authorities in east China's Zhejiang Province as well as Guangdong in south China have been helping solve financing issues for SMEs by collecting big data.

A financial services online platform in Zhejiang, established last year, has already financed more than 940 billion yuan (145 billion U.S. dollars) for SMEs.

Connecting the data from 53 governmental organs, ranging from ecology and law enforcement to tax affairs and credit checks with banking systems, the platform has automatically raised over 310 billion yuan (about 47.8 billion U.S. dollars) in way of business-loan matchmaking.

"The platform tackled the obstacles of asymmetric information and improved our service and business efficiency," said Han Yongzhong, head of the Rui'an branch of Agricultural Bank of China.

ID : 8173713

Published : 2021-01-15 22:15

Last Modified : 2021-01-16 15:50:47

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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