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FCI urges its members to provide finance to send medical products to China

As you all have been reading in the press, China is facing an outbreak of a respiratory illness called 2019-nCoV, a novel coronavirus that has infected more than 20,000 people so far and killed over 400. We have many of our Chinese members operating branches in the region.  We just want them to know that the FCI family is standing firmly behind them and wish them all a speedy end to this crisis.

Patrick de Villepin, FCI Chairman, commented on the situation: “It was very sad to hear the development of the coronavirus in China, counting now a dramatic amount of deaths due to the virus. This happened during Chinese New Year holidays while the country is usually celebrating the New Lunar Year and people are back home. I want to encourage the membership of FCI to offer quick financing solutions to its clients in the medical supply industry to allow them a swift reaction to their urgent needs. I will myself check within our bank to see if and how we can provide any help.

What can you do to help?  First, as you know such an outbreak has placed stress on the medical industry, resulting in a severe shortage of medical supplies such as masks, protective clothing, etc. It will test the responsivity of the global supply chain to ensure a fast supply of life saving equipment and drugs.  FCI Vice Chairman, Ms. SUN Jianbo, General Manager, International Business Department, China Construction Bank, reports to the entire membership “the Chinese members are in a position to offer factoring import credit facilities in order to source these vital medical supplies”. China will implement tax exemptions for imports of donated medical supplies for epidemic control by health authority directly used to control Coronavirus epidemic. Materials directly used for epidemic control will be exempt from import tariffs from Jan 1 to March 31, the China ministry said in a statement on its website.

Peter Mulroy, FCI Secretary General added “If your clients are producing medical equipment and supplies, you can contact one of your correspondents in China, to speed up the export of these vital life-saving products.  We appreciate you reaching to your clients who can make a difference and support our members in their hour of need.”“With the FCI network counting close to 400 members, I believe that we should be able to make a difference and help China to have the necessary medical supplies to fight this virus. I hope the reactions of the members will be positive and that our network will show resolve to help our friends in China.  On behalf of FCI, I want to share our support to China and I hope that the situation will become stable very soon.”

FCI Members can read more details on the subject and needs in the circular 5219 on the private net.