The loan extension mechanism is a preferential loan policy for enterprise development, which will greatly promote enterprise development and stabilize the economic situation. Equipment renovation loans must meet the project loan conditions on the development and maintenance list of the Committee, and the interest rate shall not exceed 3.2%. The People's Bank of China will provide financial support on the same basis as the loan source.

The People's Bank of China has set up an extension mechanism for private loans to support financial institutions to reduce the interest rates of loans provided by manufacturing, social services, small and medium-sized enterprises and even individual families to industrial, commercial and other equipment centers. First, the equipment renovation loan is used for renovation. This policy is very effective in the equipment renovation of manufacturing, social service, small and medium-sized enterprises and individual enterprises in the fourth quarter. Equipment renewal loans mainly refer to social services, new infrastructure, manufacturing transformation and upgrading and other fields.

Its direct function is to promote the investment in equipment renewal in these fields, thus promoting the economic and social development in areas with weak equipment renewal and transformation. It also aims to implement the decisions of the the State Council executive meeting on supporting the economic and social development of vulnerable areas, increasing the deployment and upgrading of equipment, increasing manufacturing and service industries to meet the demand, and enhancing market confidence. Update equipment in areas supported by private loans. The equipment is a private loan renewal center for new projects such as health, sports, education, comprehensive management of underground infrastructure in new cities, equipment renewal and private loan renewal, including the policies of 20 financial institutions such as state-owned commercial banks, China Postal Savings Bank and commercial banks.

My views on this issue. At present, the epidemic situation is grim and the economy is not good, especially the real economy. Many small and medium-sized enterprises have been seriously affected, such as the break of capital chain. Financial institutions should speed up credit supply, transform and rebuild private lending facilities with sufficient equipment, so as to update the equipment in major areas of Chongqing, save more low-cost funds and help expand the demand of manufacturing and service industries.