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    Funding the coronavirus fight: Chinese companies sell US$4.1 billion in bonds to shore up finances as economy falters
    • Legend Holdings, China State Shipbuilding, Central China Real Estate are among the borrowers that are tapping the capital market with “anti-epidemic bonds” amid virus outbreak
    • The Chinese bonds are among the US$9 billion of offshore deals by Asian borrowers signed since end of January
    Published: 1:15pm, 13 Feb, 2020

    Chinese companies have sold US$4.1 billion worth of bonds to strengthen their finances against a stalling business environment, taking advantage of the government’s order to relax funding approvals to help the nation overcome its worst public health crisis since 2003.

    Legend Holdings, China International Capital Corporation (CICC) and China State Shipbuilding are among the Chinese borrowers that have sold new debt in recent weeks, continuing a record-breaking US$9 billion start to the year for bond issuance across Asia.

    The fundraising by Chinese companies adds to the 6.8 trillion yuan (US$974 billion) of corporate bonds that are scheduled to mature this year, a second high-water mark after last year’s record of 7.6 trillion yuan, according to Bloomberg’s data. Bonds can provide companies with a relatively swift way of bolstering their finances against any fallout from the viral disease, dubbed Covid-19.

    Last edited by Commonground; February 24, 2020, 05:24 AM.

  • #2
    Coronavirus credit crunch hits millions of Chinese firms

    6 hours ago
    The government has asked banks to offer more credit for an economy stunned as the virus spreads rapidly.

    The Chinese Association of Small and Medium Enterprises said around 60% could cover regular payments for only one to two months before running out of cash.

    Only 10% said they could hold out six months or longer.

    Prolonged shutdowns for businesses in China are bringing many firms to the brink of collapse.


    • #3

      TAIPEI (Taiwan News) — As the Wuhan coronavirus (COVID-19) outbreak expands, food prices in the Chinese capital Beijing have surged by 40 percent, partly a result of restrictions on transportation, the Epoch Times reported Friday (Feb. 28).

      Virus prevention measures in Beijing have been upgraded to the same level as in Wuhan, the city where the outbreak started.

      As a result, people moving in and out of the Chinese capital are required to show documents such as housing rental contracts or driver’s licenses before they can even apply for transit passes. The policy of closing off areas and roads has thus added to the cost of transporting goods as well, according to the Epoch Times.
      "The only security we have is our ability to adapt."


      • #4

        The highest standard for subsidies for stabilizing jobs in Beijing from now on can reach 4540 yuan per person

        The highest standard for subsidies for stabilizing jobs in Beijing from now on can reach 4540 yuan per person
        May 06, 2020 10:23

          Original title: The highest standard of subsidies for stabilizing the post of aid from Beijing will be up to 4,540 yuan per person
          Beijing News (Reporter Wu Wei) The reporter learned from the Beijing Municipal Bureau of Human Resources and Social Security that a number of policies to stabilize employment and support small, medium and micro enterprises have been implemented today. Among them, the highest standard of “subsidies for helping enterprises and stabilize jobs” issued to small and medium-sized enterprises in key industries can reach 4540 yuan per person.

        Announce the list of small, medium and micro enterprises in key industries in four batches

          Aid to stabilize enterprises includes two policies: training subsidies to stabilize jobs and temporary job subsidies. Starting from May 6, Beijing will announce the list of small, medium, and micro enterprises in key industries in four batches. Enterprises in the list may superimpose the above two subsidy policies.

          The policy of subsidies for stabilizing jobs and assisting enterprises is mainly aimed at key industries such as technological innovation, urban operation guarantee, and life service industry that meet the functional positioning and regional development plans of the capital, and small and medium-sized enterprises participating in unemployment insurance in Beijing. Affected by the epidemic situation, the production and operating income from February to April 2020 will fall by more than 80% (inclusive) year-on-year. The area where each participating company locates the list of qualified small, medium and micro enterprises.

          If the accumulated training duration of employees is not less than 20 class hours (900 minutes), the company shall be given a training subsidy for stabilizing the post according to the standard of 500 yuan per person. The maximum training subsidy shall not exceed 120 class hours (5400 minutes) and 3000 yuan.

          In addition, the enterprises that carry out training will be given temporary job subsidies according to the standard of 1540 yuan per person participating in the training.

          Both subsidies can be applied online

          The two subsidy policies for small, medium and micro enterprises in key industries can be applied online without the need for companies to run errands. The deadline for applying for both subsidies is August 31, 2020.

          Among them, the temporary job subsidies can be applied immediately when the training is carried out. The standard is 1540 yuan per person participating in the training.

          The subsidy for stabilizing the post by training is that after the training is completed, the company logs in to the official website of the Municipal Human Resources and Social Security Bureau ( through the "One Pass" module to "support the enterprise and stabilize the post" "Training subsidy", just apply according to the process.

          The Human Resources and Social Security Bureau of the district where the enterprise is participating will review the application in time. When applying for training subsidies, the employees participating in the training must still be employed in the enterprise. After receiving the training subsidy, the enterprise can use the subsidy for various expenses of employee education funds, or pay the social insurance premium of the enterprise.

          Beijing Vocational Skills Improvement Action Management Platform Launched

          In order to ensure that the subsidies are in place in a timely manner, the Municipal Human Resources and Social Security Bureau has established the "Beijing Vocational Skills Improvement Action Management Platform" (, which will go online on May 6.

          Enterprises can organize employees to log in to the management platform from May 6 to July 31. After registration, they can conduct online or offline training using the platform's attendance recording function. Enterprises can conduct live training, recording and other internal training through the platform. The platform will record the entire training process and generate an electronic report voucher for the learning record. After downloading the voucher, the company can apply for subsidies online.

          In terms of training content, enterprises can independently determine according to job skill requirements and production and operation characteristics, including job skill promotion, skill competition training, health and epidemic prevention, general occupational quality, career guidance, work injury prevention, and safe production. Training can be conducted online, offline, or a combination of both. Online and offline merger applications for training subsidies. Enterprises can organize training by themselves, or they can entrust qualified institutions to carry out training.


        • #5

          2020 at 07:26 on May 14 Source: China Securities News Ouyang Jian Chen Yingying ring

          Close to 900 bank outlets closed, thank you, intelligent transformation is imperative

          2020 at 07:26 on May 14 Source: China Securities News Ouyang Jian Chen Yingying ring

            "Financial services are everywhere, that is, they are not in bank outlets." This remark by the author of the book "Bank 4.0", Breit King, is quite representative of the dilemma facing bank outlets today. The counter rate continues to rise, and many bank outlets are closed to thank customers.
            Experts believe that the number of outlets will continue to decrease in the future, but will not disappear. The outlets are still an important window to maintain customer stickiness, but the transformation and upgrading of outlets in the future is imperative.


          • #6

            Since 2018, the central bank has reduced its RRR by 12 times and played an active role in supporting the real economy.

            May 26, 2020 05:38 Sina Finance Comprehensive

              Since 2018, the central bank has reduced its RRR by 12 times and played an active role in supporting the real economy.
              Source: Financial Times
              Reporter Ma Ling
              Our reporter Ma Ling reported that since 2018, the People's Bank of China has lowered the deposit reserve ratio 12 times, releasing a total of about 8 trillion yuan in long-term funds. Among them, funds were released for 4.65 trillion yuan in four reductions in 2018, 2.7 trillion in five reductions in 2019, and 1.75 trillion in three reductions from early 2020 to May. The implementation of the RRR cut policy has met the liquidity needs of the banking system at a particular point in time, increased support for small and medium-sized enterprises, reduced social financing costs, promoted market-based and rule-of-law "debt-to-equity swaps" The vast number of rural financial institutions have served localities and service entities, effectively supported the prevention and control of epidemics and the resumption of production and production of enterprises, and played an active role in supporting the real economy.
              On May 15, 2020, the average statutory deposit reserve ratio of financial institutions was 9.4%, a decrease of 5.2 percentage points from the beginning of 2018. The reduction in the balance sheet of the People ’s Bank of China caused by the RRR cut will not only tighten the money supply, but will have a strong expansion effect. This is the tightening of the “shrinking the balance sheet” of the central bank of the developed economies such as the Federal Reserve to reduce bond holdings. Currency is the opposite. The main reason is that lowering the statutory deposit reserve ratio means that the amount of money that commercial banks are legally locked by the central bank is reduced, and the money that can be used freely is increased accordingly, thereby improving the currency creation ability.



            • #7

              "Strict supervision in progress" series of reports

              Postponing risk exposure and falsely reporting agricultural loans involving 62 rural and commercial banks have been fined in the past two months [Appendix]

              Li Tong Du Yanfei

              08:16, June 10, 2020


              "The epidemic has brought'two-headed squeeze' to the agricultural and commercial banks, and the audience it serves is subject to the fluctuations caused by the epidemic; its source of funds is mainly county-level, and its deposits have also been greatly affected." Zhao Xijun believes that with economic and financial With changes in the operating environment, rural commercial banks can no longer operate with the old ideas.
              At the same time, we must understand the new policies and make good use of them. In addition to financial policies, there are also fiscal and local policies.