China Everbright Bank defers loan payments for small businesses

BEIJING - China Everbright Bank, a joint-stock lender, ramped up its credit support for small and micro enterprises amid the novel coronavirus disease (COVID-19) outbreak.

The bank said from Jan 25 to the end of March, it had deferred over 1.61 billion yuan ($228.8 million) in payments on small business loans in light of the epidemic.

For virus-stricken micro, small and medium-sized firms, loan principal repayments that have matured since Jan. 25 can be deferred provisionally as well as their interest payments between Jan 25 and June 30.

Meanwhile, further deferred payment arrangements can be provided for eligible micro, small and medium-sized enterprises that were hit hard in the epidemic outbreak.

The bank pledged to issue more preferential policies to develop inclusive finance, aid these firms resuming work and production, and better serve the real economy.