Industrial Bank “Glorifies” the 15th China Cross-Straits Technology and Projects Fair as the Main Contributor of the New Fujian
“Actively engage ourselves in the implementation of major national strategies, support the improvement of important and weak sectors of Fujian, properly utilize the provincial comprehensive financial service platform and actively promote the connection of industry and finance. Optimize the allocation of credit resources, exert the function of capital market in direct financing, enhance the capability of providing diversified and comprehensive financial service. Actively boost financial innovation, stress on reducing financing cost of enterprises, safeguard the stability of regional finance.”
On June 18, the 15th China Cross-Straits Technology and Projects Fair (hereinafter referred to as the Fair) was opened in Fuzhou. Sun Xiongpeng, the vice president of Industrial Bank (IB), on behalf of participating financial institutions, made the speech titled “Common Declaration of Fujian Financial Industry to Serve the Entity Economy” and made commitments.
It is reported that this Fair is more characterized by function of financial industry in serving the entity economy and has specially set up the “matchmaking conference of Fujian finance to support the entity economy”. As one of the ten most powerful banks in China as well as the leading financial enterprise and main constructor of Fujian province, IB took the initiative to organizing this matchmaking conference and signed strategic cooperation agreements with Fujian Shenyuan New Material Co., Ltd. And Fujian Haiyuan Automation Machinery Co., Ltd. Respectively to support a financial support of RMB 2.5 billion used for business cooperation in payment settlement, cash management, investment banking, derivative trading and etc. IB fulfills financing needs by enabling enterprises to achieve strategic MA, reduce financing cost, vitalize depository assets, enhance fund efficiency.
As one of the Top 50 Global Banks, although IB has already established presence all over the world, it still remembers its place of origin and continuously focuses every move of Fujian. By fully exerting the advantages of its headquarters location in Fujian and the features as a comprehensive financial service provider, IB provides powerful financial driving force for the reasonable and leaping development of Fujian. In 2016, IB set up the Fujian Business Head Office led by the president Tao Yiping, which further strengthened the financial support given to Fujian and played a bigger role in promoting Fujian to “move one step forward and change a new face”. According to statistical data, by the end of May 2017, IB has invested a total of RMB 110 billion to Fujian through loans, bond investment, leasing, consumer finance and other financing methods with the total financing balance of about RMB 350 billion.
The structural reform of supply side represents the main line during the whole Thirteenth Five Year Plan. For Fujian, the difficulties in the deepening of the structural reform of supply side lie in industrial upgrade, especially the manufacturing industry. In 2015, in order to support Fujian to implement the Made in China 2025 initiative, IB released an action plan to support Fujian to develop the intelligent manufacturing industry. By the end of May this year, IB has approved totally 211 key projects within the action plan, extended RMB 153.204 billion of credit line with the total investment of RMB 60.136 billion.
In terms of “fill the gap” initiative that is an important task for the structural reform of supply side, Fujian always goes in alignment with the national strategy. IB actively connected to and focused on infrastructure, emerging industries and social welfare, and invested another RMB 50 billion to support “fill the gap” key projects in Fujian province. By the end of May, IB has totally supported more than 170 key “fill the gap” projects, and provided financial support of more than RMB 5 billion for more than 100 “uppermost” projects.
Surrounding the structural reform of supply side of Fujian, IB continuously drives financial innovation, fuels up the supply for financing services and has participated in the set-up of the first Fujian enterprise technology transformation investment fund with a scale of RMB 8 billion, Fujian PPP guiding fund with a scale of RMB 20 billion as well as an array of industrial funds. By now, the Fujian technology transformation fund has signed with 52 projects with the total amount of RMB 7.262 billion; Fujian PPP guiding fund has closed 4 transaction with the investment amount of RMB 2.335 billion.
Fujian boasts beautiful landscape and is one of the first national-level pilot areas of ecological civilization while IB is China's first equator bank and the leader and pioneer of green finance. They share the common “green” gene. Over the past 11 years, IB has combined its business edges in green finance with the financial needs of Fujian in green upgrade and transformation, applied multifarious financing modes to grant a total of RMB 67.3 billion of funds in Fujian, actively assisted Fujian to apply for the national pilot area of comprehensive green finance reform and innovation, continuously improved the green finance system of Fujian by establishing the carbon emission permit exchange market, thus highlighting the “Fresh Fujian” slogan.TOP