China News Service, Hong Kong, September 2 (Reporter Zhang Xiaoxi) The Hong Kong Monetary Authority (HKMA) and the "Banking SME Loan Coordination Mechanism" announced on the 2nd that considering the continued impact of the new crown pneumonia epidemic on economic activities, some companies still face For the difficulty of capital turnover, the “pre-approved interest repayment without principal” plan was extended for six months to April 2021.

　　According to a press release issued by the Monetary Authority on the same day, the loan principal repayment period of eligible bank corporate customers from November 2020 to April next year was extended by six months, and the principal repayment period of trade finance loans was extended by 90 days.

The HKMA has issued a letter requesting all participating banks to take measures to implement the new arrangements.

　　It is reported that the "pre-approved interest repayment without principal" plan covers all corporate customers whose annual turnover is below 800 million Hong Kong dollars and who have not seriously overdue repayments.

The plan came into effect in May this year, and a total of 104 banks participated.

Earlier, the Hong Kong Monetary Authority and the "Banking Industry SME Loan Coordination Mechanism" have announced that the repayment period of trade finance loans under the "Pre-approved Interest Repayment without Principal" program has been extended by 90 days.

　　Regarding the above-mentioned measures, the Chinese Manufacturers' Association of Hong Kong (the Chinese Manufacturers' Association) welcomed on the 2nd, believing that the series of measures are in response to the opinions of the industry and ease the pressure on corporate operations and capital turnover.

　　Manufacturers will point out that the repeated epidemics have caused the economy to restart with twists and turns, and all sectors of Hong Kong society may not be able to fully resume normal operations in the future.

Given that economic recovery takes time and the credit environment in the current financial market is still unacceptable, many companies also need to invest more resources in restructuring their businesses after the epidemic. I believe that relevant measures can play a "timely rain" in reducing the pressure on companies' cash flow. positive effects.

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