Large companies given breathing room as they struggle to recover from coronavirus lockdown
by Xu Yuenai
(ATF) The Chinese government has taken measures to reduce taxes and interest fees for major enterprises, while increasing loans and easing the financial pressure for small and medium-sized micro-enterprises.
In March, five departments, including the Bank of China Insurance Regulatory Commission, jointly introduced measures to allow small and medium-sized micro-enterprises that cannot repay loans on time due to the coronavirus epidemic to apply for deferred repayment.
Almost one trillion yuan ($141 billion) in loans enjoy this policy, according to the official website of CCTV.