Jilin Provincial Department of Commerce, Bank of China Jilin Branch jointly support upgrade of provincial-level pedestrian streets

2020-07-08

To expedite the upgrade of provincial-level pedestrian streets, the Provincial Department of Commerce and the Jilin Branch of the Bank of China jointly deepen the cooperation between governments and banks, improve financial services, stimulate the vitality of main businesses and promote the resumption of pedestrian streets as well as the recovery of consumption. 

The Jilin Provincial Department of Commerce is to establish a mechanism jointly with the Jilin Branch of the Bank of China for work facilitation, to formulate financial service plans by focusing on the upgrade of 8 provincial-level pedestrian streets of the first batch, to provide precise and customized financial services for blocks, business forms and merchants, to focus on solving the difficulties in capital turnover of micro, small and medium merchants, and to give full play to the supporting role of financial services in the development of pedestrian streets. 
 
The Jilin Branch of the Bank of China is to fully play its service role as a large State-owned commercial bank, to roll out exclusive financial service policies for the upgrade of pedestrian streets, to innovate products and business models, and to provide support in such areas as the financing of infrastructure construction of pedestrian streets, the promotion of cross-border connection and cooperation of pedestrian streets as well as the construction of pedestrian street alliance. In the meantime, for large retailers, the Jilin Branch of the Bank of China is to provide financial services throughout the life cycle, to carry out customized promotion activities, and to foster well-known enterprises and independent brands. For small and micro businesses, it is to provide services including exclusive preferential treatment for settlement and financing account opening, convenient settlement as well as financing for business operation and turnover, and to launch a phased product—"work resumption loan" during the epidemic period with each credit loan of up to 100,000 yuan. For consumers, it is to launch services to encourage personal consumption, promote the innovation of smart payment and settlement, and create characteristic consumption belts of pedestrian streets.