China’s Ministry of Finance (MOF) has issued a special fund for development totaling RMB 4.467 billion ($0.7 billion), in addition to the RMB 4.748 billion issued in advance by the end of 2020, while the special fund of RMB 9.215 billion for the year 2021 has been completely issued, up 31.2 percent year on year.
In response to the impact of the Covid-19 pandemic, the MOF has improved and adjusted policies on guaranteed loans and discounted interest for business start-ups, expanding the coverage of loan policies and lowering the threshold for loan applications. For instance, as of the end of 2020, the MOF had issued loans worth RMB 160 billion, benefiting 1.4 million people.