On the eighth day of the first lunar month, with the sound of firecrackers in previous years, Nantong Dieshiqiao Home Textile City will be obviously lively. Many shops in Dieshiqiao Zhihao City will choose to open today!
What about now? A friend who lives in the market took some photos.
Zhang Jian’s turntable on the eighth day of the first lunar month
The intersection that used to be blocked
The empty outdoor talent market
A dog stood calmly in the middle of the road
Height-limited doors are no longer limited to “high”
An eye-catching reminder at the intersection of Packaging Street
There is a “paper” posted at the door of each store
Stacked Stone Bridge Phase 1 and Phase 2
Xiu Nu Road leads to Beicheng North Road
Various notifications and proposals
The junction of Fangdu Avenue
A certain village intersection is being investigated
A street with almost no people and sparse traffic flow , rows of storefronts are closed, even crossing Dieshiqiao and Zhihao has become a luxury…
The vitality of this city is due to the fact that home textile people from all over the world gather here. Now it is obvious that This is what worries me the most. Therefore, friends from out of town are staying in their hometowns, and not returning to the market for the time being means that everyone has contributed.
It has become a consensus to work together to overcome the current difficulties. Although there are so many small and medium-sized business owners and huge working groups in the market, they have an account in their hearts. Every day late is a sum of money, a little is a few hundred a day, and a lot is more. Tens of thousands or more a day.
Nantong Dieshiqiao Home Textile City is just a microcosm. At present, the domestic professional textile fabrics and apparel market is not open for the time being.
The epidemic is heartbreaking, and the real economy is also worrying! Last year’s trade war left many scars, but suddenly we encountered a “natural disaster”, which simply made it worse! ! 2020 is destined to be an uneven year for China’s real economy! Especially small and medium-sized business owners, during these days of extended holidays, their days may feel like years.
Affected by the epidemic
What should companies and individuals do if they have difficulty repaying loans?
In order to better leverage the role of finance in supporting epidemic prevention and control and the real economy, on February 1, the People’s Bank of China, the Ministry of Finance, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly The “Notice on Further Strengthening Financial Support for the Prevention and Control of the Novel Coronavirus Pneumonia Epidemic” (hereinafter referred to as the “Notice”) was issued.
The policies most relevant to everyone in the “Notice” include:
Responsibility for infections For people who are hospitalized or quarantined for new pneumonia, those who need to be quarantined for epidemic prevention and control, those who participate in epidemic prevention and control, and people who have temporarily lost their source of income due to the epidemic, financial institutions must give appropriate tilts in credit policies and flexibly adjust housing mortgages, credit cards Wait for personal credit repayment arrangements and reasonably postpone the repayment period.
For enterprises severely affected by the epidemic that have difficulty repaying their loans when due, they can extend or renew their loans. We will support relevant companies in overcoming the epidemic by appropriately lowering loan interest rates and increasing credit loans and medium- and long-term loans.Harmful effects.
Ten Key Points
The “Notice” consists of five parts, a total of 30 measures, including ten key points:
1. The central bank will provide sufficient liquidity through a variety of monetary policy tools such as open market operations, standing lending facilities, re-lending, and re-discount, Maintain reasonable and sufficient liquidity in the financial market. For financial institutions affected by the Spring Festival holiday adjustment, the tolerance for deposit reserve assessment in late January 2020 will be appropriately increased based on the actual situation.
2. For industries such as wholesale and retail, accommodation and catering, logistics and transportation, and cultural tourism that have been greatly affected by the epidemic, as well as enterprises with development prospects but temporarily experiencing difficulties due to the epidemic, especially small and micro enterprises, It is not allowed to blindly withdraw loans, cut off loans, or suppress loans. For enterprises severely affected by the epidemic that have difficulty repaying their loans when due, they can extend or renew their loans. Support relevant enterprises to overcome the impact of the epidemic disaster by appropriately lowering loan interest rates and increasing credit loans and medium- and long-term loans.
3. For those who are hospitalized or quarantined due to infection with new pneumonia, those who need to be quarantined for epidemic prevention and control, those who participate in epidemic prevention and control, and those who have temporarily lost their source of income due to the epidemic, flexibly adjust housing mortgages, Arrangements for repayment of personal credit cards such as credit cards and reasonable extension of repayment deadlines. Personal entrepreneurial guaranteed loans infected with the new coronavirus can be extended for one year and continue to enjoy financial discount support.
4. Implement a list system for key enterprises that produce, transport and sell important medical supplies used in response to the epidemic, as well as important daily supplies. The central bank provides low-cost funds to financial institutions through special re-lending, and supports financial institutions in providing credit support at preferential interest rates to companies on the list. The central government provides interest discount support to key enterprises for epidemic prevention and control.
5. We must actively open up a “green channel” for donations to ensure that epidemic prevention and control funds reach the designated payee’s account as soon as possible. The remittance fees for banking financial institutions handling epidemic prevention and control-related payments through the payment system of the People’s Bank of China will be reduced or exempted.
6. Properly carry out financial market-related businesses. Strengthen liquidity management and risk response. It is necessary to reasonably guide investor expectations and ensure the smooth and orderly development of various businesses in the financial market.
7. If a listed company is affected by the epidemic and finds it difficult to disclose performance forecasts or performance reports as scheduled, it may apply to the stock exchange for an extension; if it is difficult to disclose the 2019 annual report on the original appointment date, it may apply to the stock exchange. Extension to disclosure before April 30, 2020.
8. If it is indeed impossible to update financial information or issue a notice of shareholders’ meeting as scheduled due to the epidemic, the company can apply for an extension of the validity period of financial information or a notice of shareholders’ meeting after fully disclosing the specific impact of the epidemic on this restructuring. The extension is for 1 month, and you can apply for extension up to 3 times. During the epidemic, the time limit for responding to stock issuers’ feedback, the time limit for replying to notification letters, the time limit for expiration of financial reports, and the validity period of issued refinancing approval documents will be suspended from the date of issuance of this notice. If you have obtained a bond issuance license and are unable to complete the issuance within the validity period of the license due to the impact of the epidemic, you may apply to the China Securities Regulatory Commission for an extension of issuance.
9. The 2020 annual listing fee and annual listing fee that listed companies and listed companies in Hubei Province should pay to the stock exchange and the National Equities Exchange and Quotations System will be waived. The 2020 annual membership fees and seat fees that Hubei Provincial Futures Companies should pay to the futures exchange are exempted.
10. For foreign exchange donation business remitted from home and abroad to support epidemic prevention and control, banks can handle it directly through the existing current account foreign exchange settlement account of the recipient unit, and the requirement to open a donation foreign exchange account is suspended. If there is a real need for epidemic prevention and control, the limit on foreign debt borrowing by enterprises can be cancelled, and foreign debt registration can be applied for online to facilitate cross-border financing by enterprises.
Deputy Governor of the Central Bank:
After the market opens, the Central Bank will Provide sufficient liquidity
Pan Gongsheng, deputy governor of the People’s Bank of China and director of the State Administration of Foreign Exchange, was interviewed by reporters and focused on a series of new important measures to support financial support for epidemic prevention and control. Interpretation.
Pan Gongsheng said that after the financial market opens on February 3, the People’s Bank of China will provide sufficient liquidity, increase the intensity of countercyclical adjustments, maintain reasonable and sufficient liquidity in the financial market, and maintain the money market. Interest rates are running smoothly. Especially considering the dual impact of the special period of the epidemic and delayed market opening, the People’s Bank of China will provide liquidity to the market through a variety of monetary policy tools such as open market operations, standing lending facilities, re-lending, and re-discounting. The People’s Bank of China will also maintain close communication with financial institutions and financial markets, fully understand market liquidity conditions and liquidity needs, study and judge the liquidity situation, release policy information in a timely manner, and strengthen expected guidance.
At the same time, Pan Gongsheng said that during the epidemic prevention and control period, the People’s Bank of China will provide a total of 300 billion yuan in low-cost special re-loans to major national banks and some local corporate banks in key provinces (cities, districts) such as Hubei. Funds, requiring banks that obtain re-loan funds to provide credit support at preferential interest rates to enterprises that produce important medical and daily supplies in response to the epidemic. The People’s Bank of China, together with the National Development and Reform Commission and the Ministry of Industry and Information Technology, has adopted a list-based management of key enterprises to ensure that special re-loan funds are used where they are most needed to respond to the epidemic.
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