Ministry of Finance et al.: Prohibit Service Operators from Using Loan Funds for Real Estate Development or Investment, etc.

　Glorion News August 12th | The Ministry of Finance, Ministry of Civil Affairs, and eight other departments published the "Implementation Plan for the Interest Rate Policy for Loan Funds" on the 12th. Among other things, it proposes that operating entities ensure that loan funds are used to carry out lawful business activities, enhance service supply capabilities, and improve consumer infrastructure; strictly prohibit reporting false information, embezzlement, or misappropriation of loan funds; and strictly prohibit using loan funds for real estate development or investment, etc. Banks handling the loans must strictly follow the results of relevant department audits and checks to apply for interest subsidies and ensure that interest subsidies are used in accordance with regulations to repay operating entities that meet the conditions for receiving interest subsidies, strictly prohibiting banks and operating entities from misappropriating interest subsidies.