East China’s Jiangsu province has strengthened financial support and accelerated the implementation of preferential policies for enterprises in a bid to further bail out enterprises, and boost the enterprises’ confidence in development.
On Friday, at a government-bank-enterprise cooperation docking meeting in Dongtai City, 13 prefecture-level municipal financial institutions added 150 billion yuan of regional credit, 18 local financial institutions added 17.2 billion yuan of new credit, and 6 fund companies added 240 million yuan of new equity investment for the local enterprises in a bid to help spur high-quality development.
The Bureau of Industry and Information Technology of Lianyungang city has revised the management measures for emergency loan funds to further reduce the loan costs of small and medium-sized enterprises.
In addition to the rate reduction, this revision expanded the user definition from "locally established enterprises" to "locally operated enterprises" to help more enterprises enjoy high-quality lending services. In the next step, Lianyungang will further expand its cooperation with commercial banks, simultaneously optimize the business process and improve the utilization rate of funds.
Sun Yan, Deputy General Manager of Lianyungang Industrial Investment Group Asset Management Co., Ltd. said, "We will speed up the investigation of enterprises, support physical enterprises and promote the application of emergency loan funds to alleviate the financing difficulties of enterprises."
Last September, Taizhou Xiangxu New Material Co., Ltd., which is mainly engaged in the production of packaging paper, settled in Zhangdian Town, Jiangyan District, Taizhou City. In order to reduce the operation cost of the enterprise and improve the production efficiency, the local government is currently helping the enterprise to apply for the title of demonstration enterprise for the integrated management system of informatization and industrialization.
Kang Yu, Office director of Taizhou Xiangxu New Material Co., Ltd. said, "Once the application is successful, the government will provide us with economic subsidies and introduce preferential policies to favor us, such as low-interest loans to improve the quality of products and help enterprises develop high-quality."
In 2023, Jiangsu will allocate 1.2 billion yuan of special funds for transformation and upgrading of the industrial and information industry, support industrial enterprises to carry out free diagnosis, high-end transformation and upgrading, and promote small and medium-sized enterprises to accelerate the intelligent transformation and digital transformation of the manufacturing industry.
