East China’s Jiangsu province has introduced a slew of new measures to help small, medium and micro enterprises raise funds, according to a press conference held by the provincial government on Wednesday.
At present, more than 99% of the 4.066 million registered enterprises in Jiangsu are small, medium and micro enterprises.
These enterprises generally lack collateral, and banks also lack the means to accurately understand their credit status and risk status, resulting in low loan availability and low proportion of credit loans.
To this end, Jiangsu proposed to build a national comprehensive financing service platform for SMEs, hoping to lead the standardized development of other financing credit service platforms, while improving credit evaluation and risk monitoring systems.
These measures can effectively expand the first loan accounts of small and medium-sized enterprises, improve the credit loan rate of small and medium-sized enterprises, reduce financing costs, and at the same time better meet the needs of financial institutions for the application of credit information.
