New policies to improve financing for sci-tech enterprises
Hefei National High-tech Industry Development Zone is poised to set an example for supporting sci-tech enterprises with more efficient financial services. [Photo/WeChat account: hefeigaoxinfabu]
Hefei National High-tech Industry Development Zone released a set of 19 new policies to facilitate the financing of local science and technology enterprises at a press conference held on Dec 25.
The zone government said that the policies were made in response to common problems that local medium-, small-, and micro- sized sci-tech enterprises encountered. For example, it was difficult, expensive, and time-consuming to get loans.
According to officials, the policies will bolster the development of the pilot free trade area in the zone by setting an example for supporting sci-tech enterprises with more efficient financial services.
The policies call for more innovative financial products and more financial support for high-tech enterprises.
The policies mainly support the commercialization of sci-tech achievements, as well as the development of high-tech industries and emerging industries.
The zone plans to set up a credit fund for start-ups, as well as provide credit loans for the graduates and faculty members of the University of Science and Technology of China in Hefei who start up businesses in the zone, the policies stated.
The opening-up of the financial sector is encouraged. Foreign-invested financial institutions are welcomed to develop in the zone.
In 2020, the zone provided 1,314 loans to sci-tech enterprises, a year-on year increase of 11.64 percent, totaling 3.84 billion yuan ($593.69 million), a year-on year increase of 11.64 percent.