Chongqing- Starting from May, Chongqing will launch consumer-benefit consumption season activities. The exclusive financial products of commercial service companies will be launched in Chongqing.

Relevant banking institutions and payment institutions in Chongqing can customize exclusive mobile payment products. Chongqing encourages UnionPay Chongqing Branch, commercial banks, and payment institutions to use the UnionPay App as the main platform to launch various mobile financial service products that meet the unified standards of the banking industry, such as QR codes, mobile fast payment, bank APP, and more. It will provide Smart Commercial Areas, Smart Business Streets, and Smart Shopping Malls exclusive, customized, and convenient solutions to accelerate the expansion of mobile payment convenience consumption.

Meanwhile, banking institutions and payment institutions in Chongqing are encouraged to provide consumer loans and other financial services to merchants under the premise of controllable risks, so as to better serve the people's livelihood and the real economy. Also, Chongqing encourages banks to implement measures, such as consumption installment fee discounts, consumption overdraft interest rate discounts, and differentiated deferred repayments, under the premise of controllable risks. For small and micro business owners, self-employed businesses, and individuals in seriously epidemic regions, special credit cards are encouraged to issue, speeding up the disposal of bad credit card debts.

Moreover, departments and institutions, like UnionPay Chongqing Branch, are encouraged to cooperate in the electronic and convenient issuance and use of government consumption coupons and incentive subsidies, under the premise of compliance with laws and regulations. Also, online orders and contactless services are actively promoted.

13 organizations to provide multi-dimensional solutions to smart business construction

There are 13 institutions, including UnionPay Chongqing Branch, Industrial and Commercial Bank of China Chongqing Branch, Agricultural Bank of China Chongqing Branch, China UMS Chongqing Branch, etc. provide Chongqing with multi-dimensional construction solutions to Smart Commercial Areas, Smart Business Streets, and Smart Shopping Malls.

Relying on transaction data, banking institutions, such as Bank of China Chongqing Branch, China Merchant Bank Chongqing Branch, Chongqing Fumin Bank, and more, provide customers with consumer loans and credit card service products. For example, the annual interest rate of loans within 200,000 yuan is 4.35%. Small and micro-merchants have preferential financing rates of 10,000 to 50,000 yuan. In addition, banks will provide financial support for individual industrial and commercial households to resume production and rent.

UnionPay Chongqing Branch and Ping An Bank Chongqing Branch will implement a 60% discount on service charges for eligible UnionPay transactions of less than 1,000 yuan. Additionally, for special merchants in the pharmaceutical industry, those banks will adopt special measures such as charge first and refund later.

Besides, the People's Bank of China Chongqing Administration Department also organized the promotion of UnionPay and various commercial banks to raise funds of 10 million yuan. They will promote the UnionPay App in Chongqing's supermarkets, convenience stores, and department stores, bringing real benefits to general consumers.