Taixing city in East China's Jiangsu province has been promoting matchmaking between banks and enterprises, providing a source of finance for the development of small and micro enterprises.
Since last year, the city has investigated the production and operational situation and financing needs of local enterprises.
This boosted the drafting of an implementation plan for a coordination mechanism to support the funding of SMEs and an activity plan for conducting visits to the city's large number of SMEs.
With the implementation of various support policies, banks and financial institutions have selected one to two adaptable financial products based on the characteristics and financing needs of SMEs, providing menu-style credit products.
A full chain rapid response financing service mechanism has also been established, enabling enterprises to obtain financing faster than usual by three to seven working days.
Data showed that from Oct 15 last year to the end of January this year, the city granted 7.47 billion yuan ($1.03 billion) in credit and 4.81 billion yuan in loans to local SMEs, further boosting their confidence of development.
A matchmaking conference is held for banks and enterprises. [Photo/WeChat account: txfabu]
