Hang Seng China joins battle to contain COVID-19

With the continuous development of the new coronavirus pneumonia epidemic, the impact and challenges faced by all sectors of society are increasing day by day. Hang Seng China pays close attention to the development of the epidemic, and has quickly launched various measures to actively implement government and regulatory policies at all levels during the epidemic.

From January 25, 2020, Hang Seng China waived business fees on all corporate bank customers' donations related to the pneumonia epidemic and remittances such as medical purchases, bank acceptance bills and letters of credit, and adjusted the upper limit of the system's payment amount.

On January 30, Hang Seng China and its employees donated 2 million yuan (US$290,000) to fight the new coronavirus pneumonia epidemic, including a donation of 1.5 million yuan to the China Social Welfare Foundation for use in cities and counties such as Jingzhou, Tianmen and Suizhou in Hubei Province. It also donated 500,000 yuan to the China Youth Development Foundation to provide funding for families of medical staff infected with the new coronavirus, and young people with family members who are sick and have financial difficulties.

In the fight against the epidemic, banks and enterprises move together. Seeing that enterprises were facing a huge impact due to the epidemic, Hang Seng China increased financial support and helped contain the epidemic. On February 11, Hang Seng introduced preferential measures for corporate customers in industries affected by the epidemic, such as manufacturing, wholesale and retail, accommodation and catering, to reduce loan interest payable in February 2020. Total reduced interest payments equaled approximately 10 million yuan.

Hang Seng China also provides short-term liquidity for some enterprises affected by the epidemic, offers “repayment of interest but not principal” arrangements, and establishes a “green channel” for loan approval. It also arranges special personnel to handle credit approval related to areas of epidemic prevention and control to expedite approval processes to ensure the operation of corporate funds.

On February 16, Hang Seng staff gave up their weekend and expedited credit approval. They organized 20 million yuan for a mask raw-material manufacturer within 48 hours, and raised the total quota to 50 million yuan to support the company's expansion of production capacity.

Hang Seng China guarantees continued electronic banking services, including Hang Seng China's online banking, mobile banking, third-party payment services, and 7/24-hour telephone wealth management services. Hang Seng China also does regular disinfection of outlets and service equipment to create a secure environment.