The tower crane waves its giant arm, the construction vehicles shuttle back and forth and the mechanical equipment rumbles. This is what is happening in Beijing's first "leasing then transferring" project -- Beijing E-Town Jiangguang Collaborative Innovation Industrial Park. 

The power behind the project's smooth progress came from the loan granted by the Beijing Economic and Technological Development Area (BDA) Branch of the Agricultural Bank of China (ABC).

"This loan guarantees that the project can proceed on schedule," according to the person in charge of the project.

Under the promotion of the BDA's Bureau of Commerce and Finance, the BDA Bank of the ABC approved a loan of 636 million yuan ($95.33 million) for the project. 

Recently, the branch has completed the first tranche of the loan for the project, with a total amount of 3.44 million yuan.

Since the "leasing then transferring" project cannot obtain a real estate ownership certificate during the five-year lease period, it cannot be mortgaged during the trial period of this policy. 

To solve this problem, the BDA Branch of the ABC innovated the guarantee scheme for the project, adopted the method of supplementing the parent company's periodic guarantee during the lease period to ensure that the project loan is extended on time with controllable risks.

In the future, there will be a number of loan tranches coming in one after another. With that funding support, the project is currently being accelerated and has entered principal construction. It will be completed and put into use in the first half of 2023.