On December 2, the Industrial Bank (IB) signed a cooperation agreement with Fujian Provincial Department of Science and Technology in Fuzhou in a joint effort to build a platform for finance to serve technology and its industrialization and to promote the integration of finance innovation and technological innovation in support of the development of technologically oriented small and medium-sized enterprises (hereinafter referred to as SMEs) in Fujian Province. According to the Agreement, Industrial Bank will give priorities to the science & technology parks, technological enterprises and projects recommended by Fujian Provincial Department of Science and Technology through a series of comprehensive financing solutions, including financing, credit and the “Industrial Bank Sesame Flowers” growth and listing plan in order to promote the commercialization of research findings and patents as well as the sustainable development of hi-tech industries.
SMEs represent an important foundation of China's economy. Technological enterprises shoulder the important mission of independent technological innovation.
At present, SMEs in our country, particularly technological SMEs, are small in scale and face difficulties in securing financing due to limited mortgage assets. This urgently calls for the attention of the government, banks, enterprises and all circles of the society and their efforts in finding a solution. In recent years, Industrial Bank has been acting in the spirit of national policies to support the development of small and medium-sized enterprises, and has successively established special operation agencies dedicated to the support of SMEs in 30 cities across the country, including 9 cities with districts in Fujian Province, which facilitates the specialized operation and standard management of small company business. In addition, the Industrial Bank launched the “Industrial Bank Sesame Flowers” SME growth and listing plan this June, which is aimed at supporting the growth and listing of SMEs. The program lays emphasis on providing services for SMEs characterized by “three HIGHs and six NEWs” (namely, new economy, new service, new countryside, new energy, new materials, new commercial mode, high growth, high-tech and high value-added). By integrating both traditional and investment banking tools, the service provides a one-stop financial solution that includes credit+stock right+listing.
According to the IB, the bank will take full advantage of the signing of the cooperation agreement with Fujian Provincial Department of Science and Technology to build a new platform to support technology with finance in order to provide convenient, effective and comprehensive financial services for financing entities such as technological enterprises and industrial parks in Fujian Province, and further promote the development of science and technology in Fujian Province.