Guiyang's industrial development fund surpasses 10b yuan in loans

As of the end of April, Guiyang city's industrial development fund has provided financial support to nearly 260 enterprises, with cumulative loans exceeding 10 billion yuan ($1.38 billion). This initiative has significantly contributed to the high-quality industrial economic development of Guiyang city and Gui'an New Area.

Initiated by the Guiyang government in December 2021, the industrial development fund has a scale of 3 billion yuan. It focuses on key industrial sectors such as manufacturing, electronic information, advanced equipment manufacturing, new energy vehicles, phosphate chemicals, aluminum processing, health pharmaceuticals, specialty foods, and software information technology services. The fund aims to address the capital turnover issues that enterprises face during their development.

Guiyang Industrial Financing Guarantee Co manages the fund. So far, it has provided proactive services to related enterprises, conducted over 610 enterprise visits, and developed several new financial products. This support has led to 67 enterprises receiving 590 million yuan in loans.

Additionally, district-level funds have been established, supporting over 76 enterprises with more than 620 million yuan. Support for market entities in major industrial parks has also led to 50 enterprises receiving nearly 197 million yuan.

Overall, the fund has helped enterprises save 125 million yuan in financing costs, indirectly increasing their output value by 7.68 billion yuan and creating nearly 95,000 jobs. The initiative has plans to continue expansion as it aims to strengthen Guiyang's industrial economy further.