China News Service, Xiangyang, November 2nd, title: Xiangyang, Hubei: Financial "blood transfusion" activates the real economy

　　Author Hu Chuanlin Liu Honghai

　　Dongfeng Jingguan Agricultural Machinery Co., Ltd., located in Xiangyang High-tech Development Zone, Hubei, is a large-scale agricultural machinery manufacturer whose main products basically cover the whole process of crop planting, cultivation, field management, and harvesting, drying, and processing.

　　In September of this year, the Industrial and Commercial Bank of China Xiangyang Branch (hereinafter referred to as Xiangyang ICBC) took the lead in opening the "ICBC e-Credit" digital supply chain business for the company, and provided it with financing and credit twice to help the company grow.

　　According to Chen Quanmin, Secretary of the Party Committee of Xiangyang Dongfeng Jingguan Agricultural Machinery Co., Ltd., since the beginning of the company's construction in 2014, Xiangyang ICBC has organized a special work class to provide all-round financial services to the companies that have settled in.

　　As the epidemic hits in 2020, Dongfeng Jingguan faces multiple challenges.

Considering that the company is a key enterprise in the fight against the epidemic, there may be a greater need for funds when it resumes work and production. Xiangyang ICBC contacted the company as soon as possible, opened the green approval channel through the four-level linkage, and completed the anti-epidemic within one week. Special preferential loans for the epidemic have provided companies with sufficient funds to quickly organize the resumption of raw materials and production.

　　This is a microcosm of Xiangyang ICBC's support for the development of the real economy.

As of the end of August 2021, Xiangyang ICBC's loan balance was 37.9 billion yuan.

In the first eight months, Xiangyang ICBC (including bills) invested a total of 13.1 billion yuan in various types of financing, a record high.

Among them, the vast majority of loans went to industrial enterprises, equipment manufacturing, three high and one new enterprises, and urban infrastructure.

　　The relevant person in charge of the Xiangyang ICBC stated that for many years, the bank has been striving to be the “leader” in blood transfusion in the real economy and has unswervingly supported the development of the real economy.

In the next step, we will continue to expand the scale of credit to support enterprise production and technological transformation.

　　Xiangyang City recently issued the "Working Plan for the Financial Chain Length System for Key Industrial Chains in Xiangyang City", led by the People’s Bank of Xiangyang City Center Branch, organizing 19 banks directly under the city to connect with 23 key industrial chains. Each key industrial chain appoints a chain-length unit to tailor financial service plans for member companies in the industrial chain to promote the high-quality development of physical enterprises.

　　Since the beginning of this year, Xiangyang has continued to guide financial institutions to increase financial support for key economic areas, especially for manufacturing.

According to data from Xiangyang Local Financial Work Bureau, at the end of September, the city's social financing stock was 450.5 billion yuan, a year-on-year increase of 13.8%.

From January to September, various social entities in the city achieved an increase of 42.1 billion yuan in social financing.

From an industry perspective, loans for manufacturing and key projects increased year-on-year.

Among them, the manufacturing loan balance was 25.6 billion yuan, a net increase of 2.6 billion yuan over the beginning of the year and an increase of 1.3 billion yuan year-on-year.

　　This year, Xiangyang has also organized several times to carry out the financing activities of major projects supported by the financial support of Hubei Province into Xiangyang, investment promotion project financing and other activities, accumulatively connecting with 88 key projects in the city, and granting 37.29 billion yuan in credit.

In addition, the city has also increased the promotion of the Hanjiang Financial Services online hall and financial zone to improve the quality and efficiency of online and offline financing services.

As of the end of September, the financial service platform had loaned a total of 20.53 billion yuan.

　　To cope with the challenges posed by the epidemic, Xiangyang continued to implement the policy of deferring the repayment of principal and interest by enterprises this year.

From January to September, the city’s financial institutions handled a total of 9.4 billion yuan in deferred principal payments and a total of 660 million yuan in deferred interest payments, benefiting 9,996 market entities.

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