Agricultural Bank of China increases financial support for small firms

The Agricultural Bank of China (ABC), one of China's biggest state-owned commercial lenders, has rolled out a string of measures to facilitate production resumption of small and micro enterprises amid the novel coronavirus outbreak.

The ABC will offer sufficient loans and interest rate discounts to such firms, especially those providing epidemic control and prevention supplies.

Small and micro firms whose business involves the production, circulation and sales of daily necessities such as grains and vegetables will be given priority so that they could provide sufficient material support for the battle against the epidemic, said the ABC.

Flexible repayment arrangements will also be made for cash-strapped small firms.

Moreover, the bank will further promote online financial services to fulfill the small firms' financing demands in multiple ways.

The ABC's total inclusive lending to small businesses has reached 100.6 billion yuan (about 14.33 billion U.S. dollars) this year.