Production gets underway at a factory in the Taixing Huangqiao Economic Development Zone. [Photo/WeChat account: gh_07a864197818]
The Taixing bureau of finance – located in Taixing city, in East China's Jiangsu province – has been rolling out a raft of measures for businesses that help relieve them of their development difficulties.
Along with the city's industry and information technology department, the Taixing bureau is implementing the introduction of a new provincial policy to expand the loan scale of special funds for relieving small and medium-sized enterprises.
That timely policy has benefited Taixing Xinte Refractory Co Ltd, which needed working capital to expand production. The company succeeded in applying for a special fund loan within three days.
As of end-July, 80.83 million yuan ($11.15 million) in special funds were allocated to 16 SMEs in the city to relieve their development problems.
Moreover, the city established and promoted a policy service information platform named Tai Qi Hui, which can recommend beneficial policies to each company based on their basic information.
This helped local firm Jiangsu Xinchang Special Material Co Ltd, for example, to promptly receive a 100,000 yuan subsidy.