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ADBC Took Multiple Measures to Support a Decisive Victory in the Prevention and Control of the Epidemic

After the People’s Bank of China and other five departments released the document on financial support for the prevention and control of the epidemic, the Agricultural Development Bank of China (ADBC) issued the "Notice on Further Strengthening Policy-based Financial Services to Support the Prevention and Control of the COVID-19 Epidemic" on February 6, proposing 34 measures in 6 areas to guide the work in ADBC during the period of the epidemic prevention and control.

The "Notice" emphasizes that ADBC should:

Maintain reasonable and sufficient liquidity, raise funds mainly through bond issuance, increase the stability of deposit, orderly conduct financial market transactions, strengthen the effort to seek more policy fund, and strive to guarantee the supply of funds.

Increase credit support for the epidemic prevention and control, guide the credit resource allocation, make good use of special re-lending and fiscal interest subsidy policies, enhance credit support for private, small and micro-sized enterprises, ensure the supply of material for people’s livelihood, improve post-investment management of key construction funds, formulate differentiated credit policies, and implement preferential interest rates.

Comprehensively improve the financial services for epidemic prevention and control, provide good services in business outlets, ensure the smooth operation of payment and settlement, establish a "green channel" for epidemic prevention, guide customers to conduct business online, fully support foreign trade, and reduce fee and decrease the bank’s revenue for the benefit of the enterprises affected by the epidemic.

Strengthen the financial support capacity for epidemic prevention and control, launch emergency channels for epidemic prevention loans, open convenient channels for credit approval, carry out rational credit authorization, take multiple measures to improve work efficiency, standardize the procedures for loans, strictly manage emergency loan procedures, comply with risk management, make every effort to ensure the safety of business system operations, and report credit data as required.

Achieve excellent performance in its own epidemic prevention and control work, consolidate the leadership responsibilities of epidemic prevention and control work, and fully cooperate with governments at all levels in emergency arrangements.

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