East China’s Jiangsu province will support the real economy by enlisting the help of financial institutions through resources allocation and product service innovation, according to a document released recently by the provincial banking and insurance regulatory commission.
The document lists 14 measures such as the increasing credit supply, delegating credit loan approval power to the lower levels, broadening financing channels and improving insurance protection. The goal is to support advanced manufacturing clusters, strategically emerging industries, hi-tech firms, the transformation and upgrading of traditional industries and new infrastructures. It is expected that within three years the number of manufacturing loan households will increase significantly, and the growth rate of manufacturing loans will not be lower than the average growth rate of various loans, which will further help reduce the comprehensive financing costs of manufacturing enterprises.
（source:ourjiangsu.com）
