East China’s Jiangsu province has launched a special campaign for financing institutions to cooperate with small and medium-sized technology-based enterprises to offset the impact of the covid-19 pandemic. Technology-based SMEs are an important force in promoting technological innovation in Jiangsu and an important engine for regional economic growth.
Technology-based SMEs,which are numbered in more than 70,000 in Jiangsu, are prone to high risks, light assets, and difficulty in financing.
Jiangsu Banking and Insurance Regulatory Bureau, together with science and technology departments, allocated 72,300 technology-based SMEs to banking institutions, and compiled the province's banking industry policy products for serving technology-based SMEs.
The Jiangsu Banking and Insurance Regulatory Bureau assigned a list of specific enterprises for each banking institution to send a team consisting of sub-branch leaders and account managers to visit the enterprises and understand the real and effective financing needs so as to implement customization of "one enterprise, one policy" financing plan.
Cai Youcai, Deputy Director of the Inclusive Finance Division of Jiangsu Banking and Insurance Regulatory Bureau
The Banking and Insurance Regulatory Bureau has specially developed a system for statistical monitoring of the services provided by various banking institutions, and the performance will be included in the regulatory evaluation and assessment of the services of inclusive finance offered by various banking institutions.
