The Hefei National High-tech Industry Development Zone, or Hefei high-tech zone – located in Hefei city, capital of East China's Anhui province – recently launched a major initiative.

It's implemented an enterprise points system evaluation index, to assess the innovative and business development levels of its resident businesses.

The model index has to date linked to over 28,000 user companies and is based on 1.5 billion enterprise data points collected from over 20,000 registered business entities in the area.

Moreover, it uses about 100 indicators that are tailored to the region's characteristics.

Thriving: Hefei National High-tech Industry Development Zone. [Photo/ gxq.hefei.gov.cn]

The groundbreaking system prioritizes the promotion of "enterprise discovery and cultivation", "enterprise financing", and "precise policy support". It does so by enabling real-time data credits, instant financial product approvals and accelerates financing for enterprises.

With almost 3,000 previously obscure companies identified and cultivated, the Hefei model is quickly having a significant impact. This new method is said to have transformed the credit process from "passive credit" to "active credit" and "batch credit".

What's more, tailor-made services are being provided for innovative companies with extra points – helping their business growth, technology matching, capital matching, personnel recruitment and finance matching.

For underpublicized firms, the Hefei high-tech zone provides credit of up to 10 million yuan ($1.39 million), while three-year non-renewable loans for core technology breakthroughs have credit support of up to 20 million yuan.