Harbin, capital city of China's northernmost Heilongjiang province, will expand the size of its special fund for stabilizing job loans and increase the scope of enterprises that benefit.
 
The move is meant to support the healthy development of local market players.
 
According to the Several Policies and Measures for Harbin's Response to the Impact of the Epidemic and Further Supporting the Healthy Development of Market Entities, the size of the special fund for loan guarantees to stabilize jobs in Harbin has been increased to 3 billion yuan ($450.11 million).
 
Meanwhile, enterprises and individuals involved in epidemic prevention and control, as well as enterprises involved in the agriculture, technology, sports and entertainment sectors, have been included within the scope of the job stabilization loans.

Moreover, enterprises in industries such as agriculture, tourism and technology are eligible for the full reduction and exemption of guarantee fees when applying for services from government financing guarantee institutions.
 
Harbin Financing Credit Guarantee Group Co is currently serving as the city's government financing guarantee institution.
 
To minimize personnel contact during the epidemic, Harbin Enterprise Credit Guarantee Group Harbin Financing Credit Guarantee Group Co has launched an online guarantee business, offering 24-hour business consultation services and enabling job guarantee loans to be declared online through the Harbin Financial Comprehensive Service Platform.
 
To date, a total of 27 loan guarantees have been provided for 25 enterprises in Harbin, with 102 million yuan in guarantees and a 827,000-yuan reduction in guarantee fees.