,China

ABC beefs up assisstance for SMEs

ABC has increased support for small enterprises by taking various measures such as granting more loans, reducing costs, exploiting potential and launching new products.

 

Furthermore, it has actively innovated financial products and has introduced Simple Loan, Self-service Revolving Loan, Factory Building Loan and other products based on the demand of small enterprises for "short-term, small-value, frequent and urgent" loans.

Simply Loan accounts for 40% of newly granted loans to small enterprises.

The bank has also further improved financial services for small enterprises and accelerated the implementation of aid measures to support the sound development of small enterprises.

Its ABC Zhejiang Branch now has specific measures for further supporting the sound development of small enterprises and formulated an aid plan covering "Six aspects and 21 policies", based on the actual development needs of local small enterprises. The Zhejiang Branch also launched four credit policies of "differentiated admittance policies, differentiated authorization policies, differentiated approval processes and differentiated non-performing loan tolerance".

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