In the past year, in the face of the complicated domestic and international situations, the financial sector of Jiangsu provincehas achieved a series of practical effects in serving the real economy, preventing and controlling financial risks, and deepening financial reforms, especially in solving the difficulty and cost of financing for SMEsso as to innovate financial service models to further reduce the financing costs of SMEs.
JiangsuFedjetting Tech Co., Ltd, a high-tech enterprise located in Nanjing Moling Industrial Concentration Zone, is one of the most professional high-tech enterprises engaged in "Ultra High Pressure Water Jet Technology Application. The company is engaged in the production of ultra-high pressure water washing machines and other related equipment that are used in petrochemical, shipbuilding and other industries.
The company, though of a small size, is a market leader in the industry.Each year when the yearend approaches, company needs a lot of money to buy the raw materials for the next year, rendering it necessary for the executives to visit one bank after another in a bid to secure bank loans. However, this year, it can get direct match with various financial institutions by visitingthe website of Jiangsu Provincial Integrated Financial Services Platform.
At the end of last year, through the integrated financial service platform, the company applied for the “Technology Entrepreneurship Loan” with Jiangsu Bank. From online application to final lending, it received 3 million loans through IP pledge in two weeks. The interest rate concessions and simple procedures helped to reduce the financing costs for the enterprise.
As the first comprehensive financial service platform in the province, the Jiangsu Provincial Integrated Financial Services Platform has been connected to 92 financial institutions since its operation in May last year, achieving the precise targeting of SMEs’ financing needs.
In the past year, Jiangsu has made continuous progress in the financial services for real economy by establishing provincial-level integrated financial service platforms, improving the inclusive financial work mechanism, and advancing the innovation of small and micro enterprises to transfer loans.
According to the Nanjing Branch of the People's Bank of China, from January to November last year, the province registered an increase of 1.65 trillion yuan in social financing, accounting for 9.3% of the national total and an increase of 1.2 percentage points yearonyear. At the same time, the credit structure was further optimized. As of the end of last year, the province's manufacturing sector recroded foreign currency loan balance of 1.65 trillion yuan, a year-on-year increase of 4%.
Through a series of service measures, Jiangsu has initially eased the difficulty and high cost of financing for private enterprises and small and medium-sized enterprises. As of the end of last year, the province had granted 662.5 billion yuan of loan for small and micro enterprises, an increase of 18.8%. The year-on-year increase was 104.9 billion yuan, which was 1.62 times of the full year of 2017.
(source:ourjiangsu.com)
