Exclusive: Hundreds of Chinese firms including Meituan Dianping, China’s largest food delivery company, and smartphone maker Xiaomi are seeking billions in bank loans to soften the impact of the coronavirus
) are seeking bank loans totaling at least 57.4 billion yuan to soften the impact of the coronavirus, two banking sources said.
China is struggling to contain the epidemic, which has killed more than 900 people, the vast majority on the mainland, and infected more than 40,000. The two lists also contained the size of loans sought by the firms, which include pharmaceutical firms and restaurants. The bureau had earlier said firms seeking financial support could ask for its help.
Meituan Dianping is seeking 4 billion yuan , partly to help finance free food and delivery to medical staff in Wuhan, the epicenter of the outbreak in central Hubei province.FACIAL RECOGNITION Facial recognition startup Megvii applied for 100 million yuan to develop new technology including means to improve the accuracy of identifying individuals with masks in crowds.
The financial bureau of the Beijing city government did not respond to an emailed request for comment.
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