SHANGHAI: China's banking and insurance regulator on Saturday (Jul 18) announced measures to further increase credit and lending support and insurance protection for areas that suffered from recent floods.
The China Banking and Insurance Regulatory Commission (CBIRC) said in a statement that financial institutions in the flood-hit areas cannot blindly withdraw, delay or cut credit lines to the companies who have good development prospects but whose operations were suspended by the floods.
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The regulator also encouraged financial institutions to lower lending rates appropriately and improve their loan extension policy to help relevant companies to tide over difficulties.
READ: At least 141 dead or missing, millions evacuated in China floods
Separately, the CBIRC urged insurers to properly perform investigations and claims settlement and arrange financial resources in advance to help flood-hit companies and people resume production and normal lives in a timely manner.
Large parts of China were reeling onRead More – Source
SHANGHAI: China's banking and insurance regulator on Saturday (Jul 18) announced measures to further increase credit and lending support and insurance protection for areas that suffered from recent floods.
The China Banking and Insurance Regulatory Commission (CBIRC) said in a statement that financial institutions in the flood-hit areas cannot blindly withdraw, delay or cut credit lines to the companies who have good development prospects but whose operations were suspended by the floods.
Advertisement
Advertisement
The regulator also encouraged financial institutions to lower lending rates appropriately and improve their loan extension policy to help relevant companies to tide over difficulties.
READ: At least 141 dead or missing, millions evacuated in China floods
Separately, the CBIRC urged insurers to properly perform investigations and claims settlement and arrange financial resources in advance to help flood-hit companies and people resume production and normal lives in a timely manner.
Large parts of China were reeling onRead More – Source
