In the first half of the year, financial institutions in Hubei Province have extended a total of over 140 billion yuan in credit to foreign trade enterprises.
The data released by the Hubei Financial Regulatory Bureau shows that as of the end of June, 2713 foreign trade enterprises in Hubei Province have obtained loans through local support mechanisms for small and micro enterprise financing coordination, with a total credit of 144.47 billion yuan and financing of 78.76 billion yuan, with an annual interest rate of 2.77%. The Hubei Financial Regulatory Bureau is also accelerating the promotion of "full coverage" of export credit insurance for small and micro enterprises, exploring the establishment of a "domestic trade insurance co-insurance system" and other methods to help enterprises achieve steady development. In the first half of the year, insurance institutions have provided a total of 7.605 billion US dollars in export credit insurance coverage for foreign trade enterprises.
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