With the difficulties facing businesses being primarily due to a lack of cash flow, it is necessary to introduce a rapid and large-scale interest rate stimulus package. It is also possible to use foreign currency reserves to revive businesses instead of issuing bonds, experts told the “Brave, creative and responsible enterprises against the pandemic” online forum held on October 11.
Many banks have recently introduced preferential policies on foreign currencies for import-export enterprises, such as preferential loans, financial support through import financing services, foreign exchange support, reasonable fees, and free international money transfer for new corporate customers.
Since April 29, credit institutions, including 78 banks, 22 finance companies, finance leasing companies, and microcredit companies, and 294 credit funds have implemented three rounds of interest rate cuts to support businesses.
