Preferential Policy Offered to Beijing Small Enterprises

Home>>Business

Last updated at: (Beijing Time) Friday, June 06, 2003

Preferential Policy Offered to Beijing Small Enterprises

DISCUSSION

CHINESE

SEND TO FRIEND

State Development Bank and Beijing Commercial Bank will provide 5 billion yuan (600 million US dollars) in guaranteed loans to brisk small and medium-sized firmsin the Beijing Zhongguancun science and technology park, an official with Zhongguancun said Thursday.

According to a contract signed between Zhongguancun and the twobanks, the enterprises in China's "Silicon Valley" with an annual sales volume between 20 million yuan (2.4 million US dollars) to 500 million yuan (60.24 million US dollars) can get 10 million yuan (1.2 million US dollars) to 30 million yuan (3.6 million US dollars) in guaranteed loans.

A survey showed that 90 percent of Zhongguancun's small and medium-sized high-tech firms suffer fund shortages, and these enterprises also lack mortgage conditions, which makes it hard forthem to secure loans from commercial banks.

Zhongguancun has set up a committee on credit promotion, and the names of enterprises who break their contracts will be made public, which will help guarantee financing security.

Questions?Comments? Click here

Easier Financing Demanded for Smaller Enterprises in China

ADB Contributes to Investment Fund for SMEs in ASEAN, China

HK Holds Exhibition to Power SMEs Success at Tough Time

Efforts Urged to Frame China's Long-time Plan on Science,Technology ( 7 Messages)

Global Warming Troubles Qinghai-Tibet Railway Construction ( 7 Messages)

US Planning Historic Shift of Military Power Abroad: Report ( 26 Messages)

'Haven't got lost!': China's 1st SARS Patient out of Shadow ( 3 Messages)

Hu, Bush Pledge to Further Develop Constructive Ties of Cooperation ( 6 Messages)

G8 Meeting Urged to Highlight Water Issue in Africa ( 9 Messages)