Financial institutions and regulatory authorities in east China’s Jiangsu province have made innovative efforts to launch a series of financial support policies to help market players overcome difficulties and provide strong support for the smooth operation of the economy.
A Nanjing Jiangning-based high-tech enterprise developing smart car products is in urgent need of capital turnover in technology research and development verification.
With good employment data, the company has obtained a credit line of 10 million yuan, thanks to the Bank of China Jiangsu Branch's inclusive employment financial service product Jiangsu Job Loan.
Since the launch of Jiangsu Job Loans in late April, Jiangsu has issued 4.455 billion yuan of credit loans to 1,176 small, medium and micro private enterprises.
Since the beginning of this year, Qidong-based Uray Semiconductor Co., Ltd. has reported a surge in orders, but under the influence of the epidemic, it has encountered difficulties in collecting payments, resulting in tight capital flow.
Jiangsu Financial Leasing helped Uray to finance 3 million yuan in the form of leaseback, supplementing the urgently needed working capital for operations.
The Nanjing Branch of the People's Bank of China issued "26 Measures for Monetary and Finance", and the Jiangsu Banking and Insurance Regulatory Bureau issued "29 Measures for Four Guarantees and Six Improvements" to encourage banking and insurance financial institutions in the province to improve the speed of financing connection and approval efficiency, and to promote the steady growth of total credit in Jiangsu.
At the end of June, the province reported an inclusive small and micro loan balance of 2.39 trillion yuan, a year-on-year increase of 29.54% and supported 2.4248 million small and micro business entities, a year-on-year increase of 27.1%.
