Xi's care, national support help revitalize virus-hit Hubei

CONTINUED POLICIES, MEASURES

Xi said Hubei should implement targeted policies for key industrial chains, leading enterprises and major investment projects, work hard to solve various difficult problems in production resumption, and help companies, especially micro, small and medium-sized enterprises solve their practical difficulties.

The central and state organs as well as central state-owned enterprises should continue to expand their support for Hubei's revival after the epidemic, implementing all policies and measures, and delivering results and benefits in Hubei on an early date, Xi said to the Hubei panel of lawmakers.

In late April, a meeting of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, China's top leadership, discussed and endorsed a series of policies supporting the economic and social development in Hubei.

According to the government work report delivered to the ongoing NPC session for deliberation, China will implement a package of policies to support Hubei's development, helping it ensure employment, public wellbeing and normal operations, and spurring the full recovery of economic and social activities there.

Chen Yilin, chairman of Hubei Long Boat Salinization Co Ltd, has been busy planning to build a new diaphragm plant to reduce the cost of producing small bags of salt.

Through a few online applications, his company was granted a one-time credit of 50 million yuan (about $7 million) for the project by the Industrial and Commercial Bank of China, the country's biggest commercial lender.

"Having such a large amount of credit so soon has really solved my urgent need," said Chen.

The China Development Bank, a major development finance institution, said the bank would increase its loans to Hubei this year.

After a pairing-up aid of provincial-level regions to help cities in Hubei fight COVID-19 in the past months, many provinces continued supporting Hubei in production resumption.

An online investment promotion event for Wuhan held on May 15, saw central state-owned enterprises sign contracts of 37 projects worth more than 180 billion yuan, which will help the city optimize its economic structure and gain new growth momentum.

China's foreign ministry will hold a global promotion event at a proper time for Hubei and explore a fast track for essential personnel to go to Hubei and Wuhan to support the production resumption, State Councilor and Foreign Minister Wang Yi told reporters on the sidelines of the NPC session on Sunday.

Geely Auto Group in East China's Zhejiang province said it has helped dozens of its suppliers in Hubei to resume work through various channels.

Chinese e-commerce firms such as Alibaba and JD.com have also participated in selling agricultural products for Hubei. Alibaba announced in April that it would purchase crayfish worth 1 billion yuan from Hubei.