The city of Taixing, located in East China's Jiangsu province, is continuing to optimize its matchmaking mechanism between government, banks and companies to get more projects up and running.
This is in a bid to coordinate more development funds for business entities.
One of the beneficiaries is Jiangsu Hongdi New Energy Technology in Taixing. Focusing on the production of complete sets of solar power equipment, the company now has begun operations.
During the development phase of the company, large amounts of funds were needed to purchase equipment. In response, Taixing Rural Commercial Bank conducted a credit investigation, review, approvals and other procedures in advance.
When the company received its building permits, it only took two weeks for the bank to release a business loan of 30 million yuan ($4.21 million).
In the Taixing Economic Development Zone, SP Chemicals (Taixing) is projected to conduct a high-end chemical production project this year.
For the project, the Taixing branch of China Construction Bank opened a green channel for business credit, giving priority to approvals and investment, with a loan amount of 1 billion yuan.
At the end of March this year, Taixing was included in the first batch of green finance innovation and reform pilot zones in the province.
Looking ahead, plans are for the city to further boost financial support for key areas, including tech innovation, green finance, private small and micro enterprises and manufacturing, to improve the sentiment of enterprises in the financial services.
A chemicals project in Taixing. [Photo/WeChat account: txfabu]