China Banking and Insurance Regulatory Commission, People's Bank of China, National Development and Reform Commission, Ministry of Industry and Information Technology and Ministry of Finance, Circular on Implementing Temporary Postponements of the Repayment of the Principal of, and Payment of the Interest on, Loans to Micro, Small and Medium-sized Enterprises

Issued: March 1, 2020

Main contents: With respect to the principal of troubled micro, small and medium-sized enterprise loans that have fallen due since January 25, 2020 as well as the interest on such loans payable between January 25 and June 30, 2020, banking financial institutions shall, pursuant to applications from enterprises, postpone the payment date until June 30, 2020 at the latest, without penalty interest.

With respect to the small number of micro, small and medium-sized enterprises that have been seriously affected by the epidemic, that will require a relatively long period of time to recover and that have good growth prospects, separate extension arrangements based on their actual circumstances may be determined through consultations with them (Articles 1 and  2).