Policy Digest

Banks urged to offer more time to repay loans

The China Banking and Insurance Regulatory Commission has asked banks and insurers to take targeted measures to help ease the financial burdens COVID-19 has placed on businesses.

In a notice published on Saturday, the commission instructed banks to quickly meet the credit needs of companies in sectors severely affected by the epidemic, including hotels, caterers and travel agencies.

The commission said that small and micro-sized enterprises in these sectors can be given more time to repay loans due this year.

Financial institutions are urged to offer repayment extensions to people who are hospitalized, under quarantine or who have lost their jobs as a result of the epidemic.

Feedback sought on child-friendly spaces

On June 1, the Ministry of Housing and Urban-Rural Development began soliciting public opinion on a trial guideline for the development of child-friendly urban spaces.

As building child-friendly spaces involves altering public service facilities, roads and parks to suit children's needs, authorities should consider feedback from children and their guardians when formulating, implementing and evaluating such projects, according to the guideline.

It noted that some of the reasons parents are worried about letting their children go out alone include risks posed by traffic and the lack of sidewalks.

Local authorities are required to take steps to improve road traffic safety in cities and bolster management of traffic.

It also suggested that residential compounds establish specific spaces for children to read books or do their homework after school.

Inspections to help fight medical insurance fraud

Authorities will conduct unannounced inspections nationwide as part of the efforts to crack down on medical insurance fraud, according to a notice jointly issued by the National Healthcare Security Administration, the Ministry of Finance, the National Health Commission and the National Administration of Traditional Chinese Medicine on May 31.

Inspectors will examine records dating back to Jan 1, 2020, for instances of fraud at medical institutions and organizations at both the district and county levels, and under certain circumstances, inspections will be extended to the insured.

Unannounced inspections will focus on services and expenses covered by medical insurance in areas such as hemodialysis and high-value medical consumables.

In cases where fraud is detected, the notice stipulated that provincial medical insurance authorities must follow up with the National Healthcare Security Administration within 30 working days to present their rectification plans.