32 BEIJING REVIEW MARCH 12, 2020 http://www.bjreview.com
BUSINESS
S
ince the outbreak of the novel corona-
virus disease, orders for ambulances
have seen a surge. Ningbo Careful
Special Cars, a company in east China that
makes fabricated products, including those
used in ambulance production, saw its or-
ders shoot up, putting a strain on its limited
budget.
Then the local branch of Bank of
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biggest banks in China, came to the rescue
with a special low-cost loan. Within 48 hours,
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and approved a loan. On February 13, the
company withdrew 5 million yuan ($717,268)
to buy raw materials.
“Currently, our production is in full swing.
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us get a 10-million-yuan ($1.4 million) credit
loan at a preferential interest rate in just two
days, which solved our pressing need in time.
With the money, our production can con-
tinue smoothly,” a manager of the company
said.
To help small and medium-sized enter-
prises (SMEs) tide over difficulties amid the
epidemic, the government has been rolling
out policies and measures, directing that
they be implemented in an orderly manner.
This has been a shot in the arm for SMEsWKDWĶ QGLWGLIĶFXOWWRJHWIXQGLQJHYHQGXU
ing normal times.
Careful’s timely loan is due to the
300-billion-yuan ($42.7 billion) special re-
lending policy announced by the People’s
Bank of China (PBC) on January 31, enabling
the central bank to boost lending through
commercial banks.
Subsequently, in February, the central
bank said lenders have been asked to toler-
ate higher levels of bad loans to support
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“ We will support qualified firms so that
they can resume work and production as
soon as possible, helping maintain stable op-Relief at Hand
Financial policy packages bail out enterprises amid epidemic By Zhang Shasha
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resume work
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