(Yicai Global) June 21 -- Banks in Shanghai are launching special credit tools to support industrial companies recover after the city's two-month lockdown.

Lenders are setting up special credit lines as well as innovating new financial products for key industrial firms, Yicai Global learned from several insiders at financial institutions.

Shanghai Pudong Development Bank has recently provided a total of CNY50 billion (USD7.5 billion) of special credit lines for key manufacturing enterprises in the automotive, integrated circuit, and biomedical industries.

Through the measures, SPDB is helping upstream and downstream industrial companies to coordinate their operations while paying attention to small and micro enterprises in order to alleviate their repayment pressures.

Moreover, SPDB has launched a series of loan products including machinery and equipment loans, commercial vehicle loans, feed loans, as well as breeding loans, totaling nearly CNY60 billion. About 100,000 small and micro enterprises have benefited from these products.

Another recovery booster based in the same city is Bank of Shanghai. The urban commercial lender has been providing targeted loans for upstream and downstream logistics enterprises using a local freight service platform run by Tiandihui Supply Chain Technology Management.

Small and micro enterprise clients of Tiandihui are facing huge operational pressures due to the Covid-19 pandemic and the related prevention and control measures. The tension is passed through the supply chain: as the income of drivers is unstable, they have a hard time repaying car loans, while customers' repayments are delayed. These companies can apply for loans online and obtain funds from Bank of Shanghai in just one or two days.

Editors: Tang Shihua, Emmi Laine, Xiao Yi