The surge of COVID-19 in 2020 gravely impaired global economy and supply chain stability. As a result, factory shutdown and corporate bankruptcy increased at an alarming rate, driving up credit risks. FENC responded promptly in February 2020, therefore reducing the risk of bad debt, upholding the 12-year zero-bad-debt streak. Actions taken include:

1. Compile weekly report on the latest credit risk exposure and customer operational status.
2. Suspend the review of credit insurance, improving underwriting rate to 90% and expanding other channels for insurance.
3. Shorten the grace period for accounts receivable, enhance overdue follow-ups and increase reporting frequency.
4. Implement credit crunch in countries in countries with high COVID-19 infection rate and elevate the threshold for unsecured credit.
5. Lower the credit limit for customers with low demand for unsecured credit to reduce risk exposure.
6. Compile list of customers with long past dues to be monitored, and tighten or postpone credit transaction.