China to enhance financial support for major foreign-funded enterprises

China’s Ministry of Commerce (MOC) and China Banking and Insurance Regulatory Commission (CBIRC) have issued a notice to guide local counterparts to enhance their financial support for major foreign-funded enterprises.

According to a circular posted on the website of MOC on Thursday, this was an implementation of the guideline issued by the State Council on Aug. 12.

China has rolled out a series of measures in the guideline to protect foreign trade entities and keep supply chains stable against the economic fallout of the COVID-19 pandemic.

According to the notice, efforts should be made to strengthen the role of financial support in stabilising foreign investment, improve the accuracy and directness of financial support policies.

Also, help major foreign-funded enterprises to cope with the impact of the pandemic and resolve their financing difficulties.

The local authorities where required to establish and improve working mechanism, strengthen cooperation, fully grasp the financing needs and operation situation of major foreign-funded enterprises.

They are also to organise activities to facilitate bank-enterprise docking in a bid to further improve the quality of financial services. (Xinhua/NAN)

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