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Xinjiang provides virus-hit businesses with financial support

(Xinhua)    16:50, September 29, 2020

URUMQI, Sept. 29 (Xinhua) -- Financial institutions in northwest China's Xinjiang Uygur Autonomous Region have provided 201.2 billion yuan (about 29.5 billion U.S. dollars) of loans to 26,000 micro, small and medium-sized enterprises by August this year, to mitigate the impact of COVID-19.

Outstanding loans to Xinjiang's small and micro businesses reached 417.8 billion yuan as of August, up 30.6 percent year on year, according to the Urumqi central sub-branch of the People's Bank of China.

To ease the pressure of repaying loans for micro, small and medium-sized enterprises, 100 local financial institutions had postponed principal repayment of about 2.4 billion yuan for more than 1,800 market entities as of Sept. 11.

Xinjiang has introduced 18 measures to support the development of small and micro enterprises this year to create a favorable business environment in the region.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Wu Chaolan, Bianji)

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