Notice by the People's Bank of China, the China Banking and Insurance Regulatory Commission, the Ministry of Finance, the National Development and Reform Commission and the Ministry of Industry and Information Technology of Extending the Policy on Phased Deferment of Loan Principal and Interest Repayment for Micro, Small and Medium-sized Enterprises
- Document Number：No. 122  of the People's Bank of China
Area of Law： Loan Epidemic Prevention and ControlLevel of Authority： Departmental Regulatory DocumentsDate Issued：06-01-2020Effective Date：06-01-2020Issuing Authority： People's Bank of China China Banking and Insurance Regulatory Commission Ministry of Finance State Development & Reform Commission (incl. former State Development Planning Commission) Ministry of Industry & Information TechnologyStatus： EffectiveTopic： Emergencies
- Notice by the People's Bank of China, the China Banking and Insurance Regulatory Commission, the Ministry of Finance, the National Development and Reform Commission and the Ministry of Industry and Information Technology of Extending the Policy on Phased Deferment of Loan Principal and Interest Repayment for Micro, Small and Medium-sized Enterprises
- (No. 122  of the People's Bank of China)
- The Shanghai Head Office of the People's Bank of China (“PBC”); all branches and operations offices of the PBC, and all central sub-branches of the PBC in capital cities of provinces (autonomous regions) and sub-provincial cities; all local offices of the China Banking and Insurance Regulatory Commission; the finance departments (bureaus), development and reform commissions, and departments in charge of small- and medium-sized enterprises of all provinces, autonomous regions, municipalities directly under the Central Government, cities under separate state planning, and Xinjiang Production and Construction Corps; China Development Bank; all policy banks, state-owned commercial banks, and joint-stock commercial banks; and Postal Savings Bank of China:
- For the purposes of effectively implementing the decisions and arrangements of the CPC Central Committee and the State Council on making overall arrangements to promote COVID-19 epidemic containment and economic and social development, reinforcing policies to stabilize enterprises and guarantee employment, and easing pressure on enterprises, especially micro, small and medium-sized enterprises, to repay principal and interest this year, the policy on phased deferment of principal and interest will be extended for eligible loans according to the principles of market orientation and the rule of law. With the approval of the State Council, you are hereby notified of the relevant matters as follows:
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