Beijing E-Town addresses five aspects of finance

To promote high-quality financial development and provide direction for relevant financial work, Beijing E-Town has established a financial ecosystem based on government-bank cooperation, cultivating fertile ground for industrial development and nurturing the robust growth of enterprises.

Technology finance: Precise measures taken to stimulate innovation vitality.

As of now, Beijing E-Town has nurtured 1,868 national high-tech enterprises and 108 national-level specialized and new "little giant" enterprises, promoting the realization of over 1,000 technological innovation achievements.

This January, the Beijing Economic and Technological Development Area (BDA) Administrative Committee invested in establishing a government investment guidance fund with an initial scale of 10 billion yuan ($1.41 billion). 

In April, an industrial upgrade equity investment fund, as a special sub-fund of the guidance fund, was officially established with an initial scale of 2 billion yuan. 

The first project, with an investment of 150 million yuan, supported the successful launch of the world's first liquid oxygen methane rocket, "Zhuque II," by the private commercial aerospace company Landspace.

Green finance: Providing detailed support for the development of the green industry.

Recently, a company in the area engaged in the industrialization integration of hydrogen fuel cell power systems overcame long-standing financial difficulties after receiving 10 million yuan in funding. 

This timely credit support, like a "timely rain," came from the BDA Branch of the Beijing Rural Commercial Bank.

The Beijing E-Town Branch of China Postal Savings Bank develops sustainable finance, green finance, and climate financing. 

This February, it cooperated with a photovoltaic and new energy power generation company in the area, providing a 30 million yuan working capital loan to support the normal operation of its photovoltaic silicon wafer manufacturing subsidiary.

Inclusive finance: Carefully serving and escorting the growth of enterprises.

"We have issued and optimized policies for discounting interest rates on loans to small and micro enterprises three times, providing a 50 percent interest subsidy for loans to small and micro enterprises in the area, and have subsidized loan interest totaling 4.46 million yuan for 142 enterprises," said the head of the BDA Business and Financial Bureau.

The China Free Trade Zone Branch of the Industrial and Commercial Bank have created the "Partner e-Loan" product, using comprehensive enterprise data for credit calculation, changing the credit model centered on collateral. 

All small and medium-sized enterprises in Beijing can calculate their loan amount in real-time by scanning the code. 

Currently, more than 280 enterprises in the area have realized loan amount calculation and disbursement through this product. The current inclusive loan scale of the branch has reached a historical high, with a total amount exceeding 2 billion yuan, an increase of over 500 million yuan since the beginning of the year, and has served nearly 600 small and micro enterprises throughout the year.

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