51. Is there any requirement for the use of the loan?

A: In accordance to the spirit of central and Shanghai municipal documents, enterprises playing key roles in the epidemic prevention and control primarily consist of the following types:

a. key medical suppliers of medical protective clothing, quarantine clothing, medical masks or civilian masks with protective effect, medical goggles, novel coronavirus detection kits, negative-pressure ambulances, sterilizers, disinfection products, infrared thermometers, intelligent monitoring and detecting systems and related drugs; 

b. key manufacturers of raw materials, equipment for the above mentioned products and related supporting enterprises; 

c. key producers of daily necessities; 

d. key medical supplies purchase and storage enterprises; 

e. enterprises providing, transporting and selling ICT equipment and information service system in response to the epidemic.

Enterprises playing key roles in the epidemic prevention and control should spend all the preferential loans on production and operation in relation to the outbreak prevention and control, actively expand production and supply, comply with unified state allocation to ensure a stable and orderly supply of key medical materials and daily necessities.

Relevant departments should enhance supervision, administration and follow-up auditing to ensure the loans are granted in accordance with the laws and regulations and no malpractice should be allowed.

52. What are the requirements for the fiscal interest subsidy?

A: Interest subsidies should be granted to enterprises not only key to the epidemic prevention and control and included in the national list and the municipal list, but also to enterprises which have obtained the credit funds issued by the financial institutions using the special refinancing loans of the People's Bank of China. In addition to the special refinancing of the People's Bank of China in support of financial institutions to provide loan with preferential interest rate, fiscal interest subsidy will be set at 50% of the actual loan interest rate obtained by the enterprise within no more than 1 year.

53. What are the application procedures for fiscal interest subsidy?

A: Enterprises playing key roles in the epidemic prevention and control can fill in the application form of fiscal interest subsidy by virtue of the loan contract newly effective from January of 2020 and submit the form to the Shanghai Municipal Finance Bureau before May 22, 2020. The Shanghai Municipal Finance Bureau will summarize the applications of fiscal interest subsidy and submit them to the Ministry of Finance for examination and approval, and apply to the Ministry of Finance for fiscal interest subsidies. The Shanghai Municipal Finance Bureau will allocate the fiscal interest subsidy issued by the Ministry of finance to relevant enterprises in a timely fashion. After May 22, it will be decided whether to accept new application for fiscal interest subsidies according to the situation.

54. What are the requirements for usage and supervision of fiscal interest subsidies?

A: Relevant departments should step up supervision, administration and follow-up audit, making sure the fiscal interest subsidy will be used exclusively for the intended purposes. It is strictly prohibited to misappropriate the fiscal interest subsidies to repay other debts of the enterprises, or to carry out arbitrage activities such as financial investment and financial management. Once discovered, relevant enterprises and financial institutions will be disqualified from enjoying preferential policy support, special refinancing loans and fiscal interest subsidies will be withdrawn ahead of schedule and the parties involved will be seriously held accountable.

55. What is the goal that the banking institutions in Shanghai aim to achieve for inclusive loans for the small and micro enterprises throughout the year?

A: Banking institutions in Shanghai should accurately evaluate the impact of the epidemic on business operation and management, take measures to expand credit issued to private enterprises and small and micro enterprises, ensure that the growth rate of inclusive loans for the small and micro enterprises is not lower than the average growth rate of all loans throughout the year, and strive to reduce the comprehensive financing cost of inclusive loans for the small and micro enterprises by another 0.5 percentage points.

56. Is there any supporting policy for enterprises involved in epidemic control and enterprises seriously affected by the epidemic?

A: Banking institutions in Shanghai should single out the credit plan to ensure that there are sufficient credit resources for epidemic prevention related enterprises and the enterprises severely affected by the epidemic. Therefore, banking institutions should proactively increase credit lines for qualified small and micro enterprises that have higher demand for capital due to the outbreak without mandatory demand for additional materials and additional credit enhancement measures. Money can be drawn at any time to meet the temporary capital need of the enterprises.

57. Is there a credit financing "green" channel for companies' resumption of production?

A: Shanghai Banking and Insurance Regulatory Bureau requires banking financial institutions in Shanghai to adopt a separate credit plan for epidemic prevention related enterprises and the enterprises severely affected by the epidemic, and to establish a credit "green" channel by adopting the special policies such as the "Shanghai Industrial Green Loan" policy, so as to provide credit financing support for companies' resumption of production.

58. Is there any new insurance targeted at the resumption of production and the restoration of work for companies?

A: COVID-19 related insurance products have been launched by many Shanghai insurance companies to alleviate the pressure caused by resumption of production and the r restoration of work for companies.

On one hand, the scope of production safety related insurances such as safe production liability insurance, employers; liability insurance and business interruption insurance will extend to include COVID-19 with no additional cost, protecting enterprises from losses due to employees' infection after the resumption of work.

On the other hand, insurance period of travel agency liability insurance, carrier's liability insurance and construction risk insurance will be extended with no additional cost for enterprises suspending operation in tourism, transport and construction industries.

59. What preferential financial policies does Shanghai have for financial leasing companies？

A: In terms of financial leasing services of medical equipment used for epidemic prevention and control, financial leasing companies are encouraged to provide preferential financial services for medical equipment leasing by postponing or reducing the relevant rents and interests.

60. Is there any specific supporting policy for startup guaranteed loan?

A: Firstly, the Shanghai Administration Center of Policy Financing Guarantee Funds for SMEs should give priority to the individuals and enterprises that have temporarily lost their sources of income due to the epidemic by granting startup guaranteed loans. Secondly, borrowers, if infected with the novel coronavirus or temporarily losing source of income due to the epidemic, are entitled to repayment extension within one year in principle and with continuous fiscal interest subsidies.