A long-term mechanism for "stabilizing finance" was established in Yanbian Korean autonomous prefecture last year to increase support for bank-enterprise match-ups and to amalgamate national special monetary and credit policies.

The financial institutions verified 929 enterprises through the provincial financing application system for micro- and small-sized businesses and extended 369 loans with an amount of 1.13 billion yuan ($17.48 million). The number and amount of loans ranked first and second among all cities or prefectures in Jilin province.

The Yanbian financing service platform includes 43 financial institutions that have released 218 financial products, as well as 43,531 registered businesses.

Branches of Agricultural Bank of China, Bank of China and Postal Savings Bank of China in Yanbian issued 86 million yuan of low-interest loans supported by a 300-billion-yuan re-lending policy to 10 key enterprises listed nationally, ranking the top three bank branches in the province.

In 2020, Yanbian provided policy funds of 2.12 billion yuan via re-lending and rediscounting, ranking first in all cities or prefectures in the province. The balance of all loans in the prefecture is currently 118.88 billion yuan, an increase of 5.56 percent over the figure at the beginning of 2021.