Since the beginning of the year, various financial institutions in Beijing E-Town have taken steps to serve the real economy. As the first quarter drew to a close, these financial institutions have submitted satisfactory work reports.

In the first quarter, new banks opened for businesses in Beijing E-Town, including Nanjing Bank Yizhuang Branch, and Hengfeng Bank Beijing Free Trade Zone Pilot Zone Branch. Besides, there were several new branches, like the Industrial Bank Beijing Free Trade Zone High-end Industrial Park Branch.

The Industrial Bank Beijing Free Trade Zone High-end Industrial Park Branch opens for business. [Photo/beijingetown.com.cn]

"With the support of the Beijing E-Town Administrative Committee, we opened for business on Feb 20, 2023," said the head of Hengfeng Bank Beijing Free Trade Zone Pilot Zone Branch. Since the opening, he said the branch has improved its services, achieving positive results in business preparation, market expansion, customer cooperation, public-private partnership and other aspects.

As of Mar 31, 2023, the deposit balance of Hengfeng Bank Beijing Free Trade Zone Pilot Zone Branch has exceeded 1.7 billion yuan ($246.67 million), the loan balance has exceeded 500 million yuan, and the interbank deposit balance has reached 2.6 billion yuan.

Various financial institutions in Beijing E-Town also empowered specialized, sophisticated companies in the first quarter. Postal Savings Bank Beijing Yizhuang Branch is one of them.

"Recently, during the visit by our customer managers, we learned that a company in the area, which specializes in central air conditioning installation and sales, had financing needs. After matching its qualifications, we recommended our online micro and small business loan product (Sci-Tech Innovation E-Loan), which helped the company solve its urgent needs," said the head of Postal Savings Bank Beijing Yizhuang Branch.

In the first quarter, Beijing Rural Commercial Bank BDA (Beijing Economic-Technological Development Area) Branch focused on the goal of "carbon peaking" and "carbon neutrality," and supported "green industries" through financial empowerment, with a green credit exceeding 100 million yuan issued.

The bank provided credit support to the ongoing PPP project of Jinqiao Regenerated Water Plant, mainly serving the wastewater purification in the 3,300 mu (220 hectares) intelligent manufacturing base in Majuqiao town.