Heavyweight! The central bank encourages banking institutions to reduce lending rates appropriately! Support related enterprises to fight the epidemic!

In the afternoon of February 1, the People's Bank of China, the Ministry of Finance, the Banking and Insurance Regulatory Commission (BIRC), the Securities Regulatory Commission (SFC), and the Foreign Exchange Bureau (FXB) jointly issued the Circular on Further Strengthening Financial Support for the Prevention and Control of the New Type of Coronavirus Infected Pneumonia Epidemic (hereinafter referred to as the "Circular"). The Circular includes five parts and ***30 measures.

The Notice mentions that enterprises seriously affected by the epidemic that have difficulty in repaying their loans at maturity can be extended or renewed. By appropriately lowering the loan interest rate, increasing credit loans and medium- and long-term loans, etc., to support the relevant enterprises to overcome the impact of the epidemic disaster.

For those who are hospitalized or quarantined due to the infection of a new type of pneumonia, those who need to be isolated for observation for the prevention and control of the epidemic, those who participate in the prevention and control of the epidemic and those who have temporarily lost their source of income due to the impact of the epidemic, the financial institutions should give appropriate preference to the credit policy, and flexibly adjust the repayment arrangement of housing mortgage, credit card and other personal credits to reasonably postpone the repayment period.

In addition, the company's listing fees are reduced or waived for companies in areas where the epidemic is severe.

The full text of the notice is as follows:

Since the outbreak of the new coronavirus-infected pneumonia, the Party Central Committee and the State Council attaches great importance to. The financial system to conscientiously implement the Party Central Committee, the State Council decision-making and deployment, take the initiative to act to ensure that the financial services smooth, to support the prevention and control of the epidemic around, played a positive role. At present, the epidemic prevention and control is at a critical stage. In order to effectively implement the central **** "on strengthening the leadership of the party, to win the epidemic prevention and control of blocking the war to provide a strong political guarantee of the spirit of the notice" and the central response to the new coronavirus infection of pneumonia epidemic leading group work deployment, to further strengthen the financial support for the prevention and control of the epidemic work, is now notified of the relevant matters are as follows:

First, to maintain a reasonably abundant liquidity, increase the strength of monetary and credit support

(a) Maintain a reasonable abundance of liquidity. The People's Bank of China continues to strengthen the guidance of expectations, through open market operations, standing lending facilities, re-lending, re-discounting and a variety of other monetary policy tools, to provide sufficient liquidity, to maintain a reasonable abundance of liquidity in the financial market, and to maintain the smooth operation of the money market interest rates. Branches of the People's Bank of China have appropriately increased the tolerance of the deposit reserve assessment in the second half of January 2020 according to the actual situation for financial institutions affected by adjustments due to the Chinese New Year holiday. Guide financial institutions to increase credit investment to support the real economy, and promote reasonable growth in money and credit.

(ii) Increase credit support for areas related to epidemic prevention and control. During the epidemic prevention and control period, the People's Bank of China, in conjunction with the Development and Reform Commission, the Ministry of Industry and Information Technology on the production, transportation and sales of response to the epidemic use of medical protective clothing, medical masks, medical goggles, a new type of coronavirus test kits, negative-pressure ambulances, disinfectant machines, 84 disinfectant, infrared thermometers and related medicines and other important medical supplies, as well as important living supplies of the backbone of the enterprise to implement the management of the list system. The People's Bank of China has provided low-cost funds to financial institutions through special refinancing to support financial institutions in providing credit support at preferential interest rates to enterprises on the list. The central financial authorities will provide subsidized interest rate support to enterprises that are the key guarantors of epidemic prevention and control. Financial institutions should take the initiative to strengthen the service docking with the relevant hospitals, medical research units and related enterprises, provide sufficient credit resources, and make every effort to meet the reasonable financing needs of the relevant units and enterprises in the areas of epidemic prevention and control, manufacturing and procurement of medical supplies, public **** health infrastructure construction, scientific research and technological transformation.

(C) provide differentiated and preferential financial services for regions, industries and enterprises affected by the epidemic. Financial institutions to adjust regional financing policies, internal fund transfer pricing, the implementation of differentiated performance assessment methods and other measures to enhance the financial supply capacity of areas seriously affected by the epidemic. For industries such as wholesale and retail, accommodation and catering, logistics and transportation, culture and tourism, which are greatly affected by the epidemic, as well as enterprises, especially small and micro-enterprises, which have development prospects but are experiencing temporary difficulties due to the epidemic, they shall not blindly withdraw, cut off or suppress loans. For enterprises seriously affected by the epidemic that have difficulties in repaying their loans upon maturity, the loans may be extended or renewed. The relevant enterprises will be supported to overcome the impact of the epidemic disaster by appropriately lowering the loan interest rate, increasing credit loans and medium- and long-term loans. Governmental financial guarantee and re-guarantee institutions at all levels should abolish counter-guarantee requirements and reduce guarantee and re-guarantee fees. For the financial guarantee re-guarantee institutions in areas seriously affected by the epidemic, the State Financing Guarantee Fund will reduce the re-guarantee fee by half.

(d) Improvement of financial services in social and livelihood areas affected by the epidemic. Hospitalization or isolation of people infected with the new type of pneumonia, epidemic prevention and control needs to be isolated and observed personnel, participate in the epidemic prevention and control of staff as well as the impact of the epidemic temporarily lost the source of income of the crowd, financial institutions should be appropriate in the credit policy to be tilted to flexibly adjust the housing mortgage, credit cards, and other personal credit repayment arrangements, a reasonable postponement of repayment period. Individuals infected with the new type of pneumonia can extend their guaranteed loans for entrepreneurship for one year and continue to enjoy financial subsidized interest support. Infected with a new type of pneumonia or damaged by the impact of the epidemic claims customers, financial institutions to prioritize the processing, the appropriate expansion of the scope of responsibility, should be compensated for as much as possible.

(e) Improve the efficiency of financial services during the epidemic. For the financing needs of the areas and regions affected by the epidemic, financial institutions should establish and start fast approval channels, simplify the business process, and effectively improve the efficiency of business processing. In areas subject to traffic control, financial institutions should innovate ways of working, take office in the nearest branch, hold video conferences and other ways as soon as possible for enterprises to deal with the approval of the release of funds and other business.

(F) support developmental, policy banks to increase credit support. China Development Bank, Export-Import Bank, Agricultural Development Bank to combine their own scope of business, strengthen coordination, reasonable adjustment of credit arrangements, and increase the market-based financing difficulties in the production of epidemic prevention units and enterprises, research and development, import procurement of medical supplies, as well as the production of important living materials supply enterprises, transportation and sales of financial support, to reasonably meet the needs of the epidemic prevention and control.

(VII) to strengthen the manufacturing industry, small and micro enterprises, private enterprises and other key areas of credit support. Financial institutions to strengthen service capacity building around internal resource allocation, incentive assessment arrangements, continue to increase support for small and micro-enterprises, private enterprises, to maintain the loan growth rate, the effective implementation of the integrated financing cost pressure reduction requirements. Increase in manufacturing medium and long-term loan investment.

(viii) play financial leasing characteristic advantages. For the financial leasing company in the financial leasing business for epidemic prevention and control related medical equipment, encouragement to be slow or reduce the relevant rent and interest, provide medical equipment leasing preferential financial services.

Second, the rational scheduling of financial resources to protect the people's daily financial services

(ix) to ensure that the basic financial services unimpeded. Financial institutions should be based on the epidemic prevention and control work needs, reasonable arrangements for business outlets and business hours, effectively do a good job of cleaning and disinfection of the business premises, to protect the basic financial services smooth. Financial institutions should strengthen the nationwide online services, especially in areas with serious epidemics, and guide enterprises and residents to handle financial services through the Internet, cell phone APP and other online methods.

(x) Strengthen cash management in circulation. Reasonable deployment of cash resources to ensure adequate cash supply. Increase the supply of cash to hospitals, residential communities and emergency construction projects, and timely meet the large cash needs of units and enterprises related to the procurement of epidemic materials. Do a good job of sterilizing cash storage and business processing sites. As far as possible to pay cash externally to the new vouchers based on the income of the cash to take measures to sterilize the deposit of the local branch of the People's Bank of China.

(xi) to ensure the smooth operation of payment clearing. The People's Bank of China, according to the need to liberalize the small amount of payment system business limits, extend the large amount of payment system, the central bank accounting data centralized system operation time, support financial institutions online for RMB deposit and other businesses. Branches of the People's Bank of China, clearing agencies and banking financial institutions should do a good job of all kinds of payment and clearing systems, the central bank accounting data centralized system of normal and safe operation, the opening of the epidemic prevention and control of a dedicated channel to protect the domestic and foreign rescue and donation funds in a timely manner to allocate in place, the flow of social funds efficient and smooth.

(xii) the establishment of bank accounts to prevent the epidemic "green channel". Banking financial institutions to do a good job of preventing and controlling the epidemic under the premise of risk control and related bank account services, simplify the account opening process, speed up business. To actively open donation "green channel", to ensure that the epidemic prevention and control of money the first time to reach the designated payee account. Reduce or waive the banking financial institutions through the People's Bank of China payment system for the prevention and control of the epidemic related payments remittance fees. Encourage clearing agencies, banking financial institutions to charitable organizations account or special account of the epidemic area of the transfer remittance business, the epidemic area of the cash withdrawal business to reduce or waive the service charges.

(xiii) Increase the protection of electronic payment services. Support banking financial institutions, non-bank payment institutions in the epidemic prevention and control period, the use of remote video, telephone and other ways to handle merchant access audit and daily inspection, through transaction monitoring to strengthen risk prevention and control. Encourage clearing agencies, banking financial institutions and non-bank payment institutions to implement preferential payment service handling fees for special merchants in specific areas or regions. Banking financial institutions and non-bank payment institutions should strengthen the service guarantee of electronic channels, flexibly adjust the relevant business limits, and guide customers to handle payment and settlement business online through electronic commercial draft systems, personal online banking, corporate online banking, mobile banking, payment service APP and other electronic channels.

(xiv) Effective protection of public credit-related rights and interests. The branches of the People's Bank of China and the financial credit information base database access organizations should properly arrange credit inquiry services and guide the public to make credit inquiries through the Internet and self-service inquiry machines. It is necessary to reasonably adjust the reporting of overdue credit records. For those who are hospitalized or quarantined due to infection with new type of pneumonia, those who need to be isolated and observed for epidemic prevention and control, and those who participate in epidemic prevention and control, and who fail to make repayment in time due to the impact of the epidemic, as determined by the access agency, the relevant overdue loans can be reported without overdue records, and those who have already been reported shall be adjusted. The impact of the epidemic temporarily lost the source of income of individuals and enterprises, can be adjusted according to the repayment arrangements, reported credit records.

(xv) Smooth emergency allocation channel of the Treasury. Establishment of the treasury bank collaborative working mechanism, timely understanding of the financial sector epidemic prevention and control of funds disbursement arrangements, ready to do the work of funds disbursement. Strengthen the guidance of the relevant business of commercial banks, the establishment of information feedback mechanism, timely tracking of funds disbursement. The People's Bank of China and commercial banks to ensure the smooth flow of funds remittance channels and treasury business related systems operating safely and stably, to build the epidemic prevention and control of funds allocation "green channel". Treasury departments at all levels to simplify business processes and procedures to ensure that the epidemic prevention and control of funds in a timely, safe and accurate disbursement in place.

(xvi) effectively protect the legitimate rights and interests of consumers. Financial institutions to establish a responsible financial concept, the impact of the epidemic temporary closure or adjustment of business hours of the outlets, to be announced to the community in advance and take the initiative to explain the proximity of normal business outlets. Financial institutions should make full use of online and other means to keep complaint channels open, optimize the process of customer consultation and complaint handling, and deal with epidemic-related financial consultations and complaints in a timely and appropriate manner. Financial institutions should effectively strengthen industry self-discipline, maintain market order, and not use the epidemic to conduct improper financial marketing campaigns.

Third, to ensure the safety of financial infrastructure, to maintain the smooth and orderly operation of the financial market

(xvii) to strengthen the financial infrastructure services. The financial market infrastructure to enhance the service guarantee capacity from the working mechanism, staffing, office space, system operation and maintenance, technical support, etc., to ensure the normal operation of the issue, trading, clearing, settlement and other operations, as far as possible, the implementation of the whole process, the whole chain of online operations. It is necessary to formulate contingency plans for quick response and efficient handling of emergencies. It is necessary to strengthen communication with competent authorities, market organizations and other financial infrastructures, and keep the business system connected and smooth. For areas affected by the epidemic, we need to open a "green channel" and provide special service arrangements if necessary, and reduce service charges.

(xviii) Stable development of financial market-related business. Financial institutions to rationalize the deployment of personnel, properly carry out the financial market-related transactions, clearing, settlement, issuance, underwriting and other work to strengthen liquidity management and risk response. It is necessary to reasonably guide investors' expectations and ensure the smooth and orderly development of financial market operations. Financial institutions in areas affected by the epidemic, to maintain normal business contacts and increase support.

(xix) improve the efficiency of bond issuance and other services. China Interbank Market Dealers Association, the Shanghai Stock Exchange, the Shenzhen Stock Exchange, etc. to optimize the workflow of the issuance of corporate credit bonds, encouraging financial institutions to submit online the issuance of corporate credit bond declaration materials, remote processing filing, registration, etc., to reduce the risk of spreading the epidemic. The funds raised are mainly used for epidemic prevention and control as well as the issuance of financial bonds, asset-backed securities and corporate credit bonds by financial institutions and enterprises in areas with heavy epidemics to establish a "green channel" for registration and issuance, and the securities market self-regulatory organizations to invest in the private equity investment fund for the production and research and development of epidemic prevention-related medical equipment, vaccine and pharmaceutical enterprises. The establishment of registration and filing "green channel", and effectively improve the efficiency of the service.

(xx) Flexible and proper adjustment of corporate disclosure and other regulatory matters. Listed companies, listed companies, corporate bond issuers affected by the epidemic, the legal deadline for disclosure of the 2019 annual report or the first quarter of 2020 quarterly report is difficult, the Securities and Futures Commission, stock exchanges, the National Small and Medium Enterprises Stock Transfer System should be properly arranged in accordance with the law. If a listed company is affected by the epidemic and has difficulty in disclosing the performance preview or performance snapshot on schedule, it may apply to the stock exchange for an extension; if it has difficulty in disclosing the 2019 annual report on the original scheduled date, it may apply to the stock exchange for an extension to disclose the report before April 30, 2020. Securities fund operators in Hubei Province may apply to the local securities regulatory bureau for an extension of the audit, disclosure and reporting of annual reports. For public funds or other asset management products managed by securities fund operators that are significantly affected by the epidemic, the managers may apply to the local securities regulatory bureau for an extension of the audit and disclosure of the annual report. For securities fund futures operating institutions in areas with serious epidemics, appropriate relaxation of regulatory standards for relevant risk control indicators.

(xxi) Appropriate relaxation of the time limit for capital market-related business. Appropriately extend the validity period of the financial information of the administrative licenses for mergers and acquisitions and reorganizations of listed companies and the time limit for the issuance of the notice of the convening of the general meeting of shareholders after the disclosure of the reorganization proposal. If, due to the impact of the epidemic, it is indeed impossible to update the financial information or issue the notice of the general meeting on schedule, the company may, after fully disclosing the specific impact of the epidemic on the reorganization, apply for an extension of the validity period of the financial information or the notice of the general meeting for one month, or at most apply for an extension of three times. During the epidemic, the time limit for responding to feedback, the time limit for responding to notification letters, the time limit for terminating the expiration of financial reports, and the validity period of refinancing approvals already issued to stock issuers shall be suspended from the date of issuance of this Circular. Has obtained a bond issuance license, due to the impact of the epidemic failed to complete the issuance within the validity period of the license, you can apply to the Securities and Futures Commission for an extension of the issuance.

(xxii) Reduced or waived part of the cost of listing companies in areas with serious epidemics. Exemption of listed companies in Hubei Province, listed companies should be paid to the stock exchange, the National Small and Medium Enterprises Stock Transfer System in 2020 annual listing fees and annual listing fees. Exemption of Hubei Province futures companies should be paid to the futures exchange in 2020 annual dues and seat fees.

Fourth, the establishment of a "green channel" to effectively improve the efficiency of foreign exchange and cross-border RMB business

(23) to facilitate the import of epidemic prevention materials. Banks should be for the epidemic prevention and control related materials imported, donations and other cross-border RMB business to open a "green channel". The relevant departments and local governments need to import epidemic prevention and control materials, foreign exchange bureau branches to guide the jurisdiction of the bank to simplify the import purchase and payment of foreign exchange business processes and materials.

(xxiv) convenient funds accounted for and settlement of foreign exchange. For the domestic and foreign remittance of foreign exchange donations to support the epidemic prevention and control of funds business, the bank can be directly through the recipient unit has a current account for foreign exchange settlement, the suspension of the implementation of the need to open the donation of foreign exchange account requirements.

(xxv) support cross-border financing of enterprises to prevent and control the epidemic. Enterprises for the prevention and control of the epidemic related to the capital project income settlement payment, without prior, pen by pen to submit documentary materials, by the bank to strengthen the authenticity of the use of funds for enterprises to check after the event. Epidemic prevention and control of the real need to cancel the enterprise borrowing foreign debt limit, etc., and can apply for online registration of foreign debt, to facilitate the enterprise to carry out cross-border financing.

(xxvi) Support for individuals and enterprises with reasonable demand for foreign exchange. Banks should pay close attention to the needs of individuals with foreign exchange, encourage through mobile banking and other online channels for personal foreign exchange business. Other special foreign exchange and RMB cross-border business related to epidemic prevention and control, banks can handle first, check afterward, and report to the local foreign exchange bureau branches and branches of the People's Bank of China respectively.

(xxvii) Simplify the process of cross-border RMB business related to epidemic prevention and control. Support banks in the "three principles of business" based on the receipt and payment instructions submitted by the enterprise, directly for its epidemic prevention and control of related imports of cross-border RMB settlement business as well as capital projects under the income of the RMB funds in the territory to pay for the use of.

V. Strengthen the party leadership of the financial system, to win the epidemic prevention and control of the blocking war to provide a strong political guarantee

(xxviii) Strengthen the epidemic prevention and control of organizational security. Financial management departments and financial institutions should enhance the "four consciousnesses", firm "four confidence", "two maintenance", and effectively unify thoughts and actions to the important instructions of the General Secretary. The spirit of the instructions, to win the epidemic prevention and control of the battle as the current major political task, go all out to do a good job in all financial services.

(xxix) do their own epidemic prevention and control work. Financial management departments and financial institutions to improve the epidemic response work mechanism, continuous attention to employees, especially from the epidemic areas to return to the health of employees, the establishment of a daily report system, increase the intensity of the epidemic investigation, do a good job of staff epidemic prevention arrangements, and efforts to provide employees with the necessary supplies to prevent the epidemic.

(30) with the local government to strengthen emergency management. Financial management departments and financial institutions in accordance with the principle of territoriality, with the local government to do a good job of organizing and coordinating the timely handling of emergencies. Obedience to the local government epidemic prevention arrangements, the prevention and control of epidemics need to requisition personnel vehicles, equipment and facilities, etc., shall not be shirked and refused. All units should continue to strictly implement the emergency duty system to ensure smooth flow of orders.

All units in the implementation of the situation encountered please report in a timely manner.

January 31, 2020

The People's Bank of China, Ministry of Finance, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, Foreign Exchange Bureau

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