Huangpu gears up with innovative policies

The Huangpu district of Guangzhou city - capital of South China's Guangdong province - introduced 10 measures for government-bank cooperation in April.

It's a bid to accelerate the approval, construction and operation of local businesses.

So far, the policy has assisted 39 companies to start up projects.

The highlights of the new policies include government endorsements for project loans and providing loan interest rates below the market level. Major banks have also introduced financial products and services tailored to project needs.

Moving forwards, plans are for Huangpu to improve the efficiency and quality of loan approvals.

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