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CDB Establishes an Emergency Financing Service Mechanism for Epidemic Prevention and Control

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Time:2020-01-29  Source:CDB

On January 28, 2020, at the enlarged meeting of the CPC Committee of CDB and the third meeting of the CDB Epidemic Prevention and Control Leadership Group, both presided over by Chairman of CDB Zhao Huan, the bank conveyed and studied the spirit of General Secretary Xi Jinping’s important instructions and comments on prevention and control of pneumonia caused by the novel coronavirus, the spirit of the recent CPC Politburo Standing Committee Conference, and the Circular of the CPC Central Committee on Strengthening the Leadership of the Party to Provide a Strong Political Guarantee for Winning the Battle of Epidemic Prevention and Control, and discussed and specified detailed epidemic prevention and control measures for the next stage.

The meetings were attended by, amongst others, Ouyang Weimin, President of CDB, Zhou Qingyu, Executive Vice President of CDB, and Song Xianping, Head of Discipline Inspection and Supervision of CDB.

The meetings noted that as epidemic prevention and control entered a crucial stage, General Secretary Xi Jinping once again gave important instructions and comments, requiring Party cells at all levels and Party members to unify and lead the people in carrying out the decisions and deployments of the CPC Central Committee and rely on the people to win the battle of epidemic prevention and control. CDB should study and implement the spirit of General Secretary Xi Jinping’s recent speeches, instructions and comments, comply with the requirements specified in the circular of the CPC Central Committee, improve its political stance, strengthen “Four Consciousnesses,” “Four Confidences” and “Two Upholds,” stay true to its mission and original aspiration, give top priority to ensuring people’s safety and health, place supporting epidemic prevention and control at the core of its work, and take intensive and effective measures to fight against the coronavirus epidemic.

The meetings also specified the following requirements. Firstly, CDB should strengthen organization and leadership, requiring that bank-wide efforts in epidemic prevention and control should be placed under the overall leadership of the CPC Committee of CDB, and all heads of CDB organs should stay in and never retreat from the front line and develop detailed plans for epidemic prevention and control. Secondly, CDB should build a stronger sense of responsibility. Party members, particularly those in leadership positions, should be encouraged to step forward, carry out concrete work, and prove themselves during the battle of epidemic prevention and control. Thirdly, CDB should give full play to the pivotal role of Party cells at the grassroots level and the exemplary role of Party members, and all grassroots-level Party cells and their members should be mobilized. Fourthly, CDB should adopt grid-style management to establish a joint prevention and control mechanism for fulfillment of responsibilities at all levels. Fifthly, CDB should continuously strengthen epidemic prevention and control and make corresponding arrangements for work resumption after the Chinese New Year holiday.

The meetings stressed that CDB should set up green channels and allocate resources on a daily basis to ensure supply of emergency financing services for epidemic prevention and control. CDB must respond within 24 hours to the financing needs of central and local leadership groups or command offices for epidemic prevention and control, including their various divisions, and within 48 hours to those of enterprises participating in epidemic prevention and control. CDB should provide the best loan rates and reasonable loan amounts and terms based on evaluation of such financing needs, while enhancing capital management and ensuring earmarking of funds. No penalty interest should be charged for delayed repayment of education loans due to the epidemic outbreak, and such delay must not be considered as a default.