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Waigaoqiao utilizes financial resources to combat epidemic

Updated: 2020-02-17

Financial institutes in the Waigaoqiao Free Trade Zone of the China (Shanghai) Pilot Free Trade Zone have been offering help to virus-hit companies in the area since the outbreak.

Financial companies affiliated with Shanghai Waigaoqiao Free Trade Group Co Ltd are responding calls by the China Insurance Regulatory Commission and People’s Bank of China to step up financial support for companies.

Financial subordinates of Waigaoqiao Free Trade Group Co Ltd have expressed belief that timely financial support will result in less losses for companies.

As of Feb 11, the group had offered 1.81 billion yuan ($257 million) in subsidies to help its subordinated companies purchase protective medical supplies and alleviate their financial burdens.