It is said that Bank of China (BOC) has provided full support to the government loan invested projects and technological reform projects with government loan discount. Up to now, BOC has formally promised to grant loans of US$900 million and RMB 14.7 billion yuan to a total of 135 government loan projects, involving an investment of RMB 65.1 billion yuan in all.
For this end, BOC has especially set up a group, which is under the guidance of its headquarters, to arrange and manage the work in support of the government loan projects. In order to improve the working efficiency, it has also mapped out a special approving and managing policy for the government loan projects and handed the approving authorities over to its immediate branches, thus to simplify and quicken the approving process for granting loans to these projects.
By taking these measures, BOC has improved the working efficiency and headed off the credit risk as well. It has also strengthened its services to better-run enterprises. By actively contacting with the departments concerned for getting to know enterprises' demands, BOC has succeeded in acquiring from foreign loans the discount policy for these projects, thereby helping the US$600 million loan to get a supplementary discounts.
(People's Daily 05/09/2001)
