The Guiyang Economic and Technological Development Zone (GETDZ) recently issued plan to support the construction of the industrial financial service system, according to GETDZ officials on June 6.
They said this would help the development of micro, small and medium-sized enterprises in its leading industries and effectively expand the development of its key industries.
The zone -- in Guiyang, capital city of Southwest China's Guizhou province -- will establish a financial services system to help promote the development of its "4+1" industries.
The term refers to resident companies in the advanced equipment manufacturing industry, big data electronics industry, health medicine industry, new energy and smart grid industry -- as well as the modern service industry.
Under the policy, the zone will establish one industrial finance services platform to offer "one-stop" industrial financial services for small and medium-sized enterprises and support their sustainable development.
At the same time, the district will establish two fund pools, including the first phase of a risk compensation fund pool with 50 million yuan ($7.07 million) and a 50 million yuan emergency lending fund pool.
In addition, the GETDZ plans to establish three industry support fund groups.
These will aim to improve equity financing services. They will comprise a 200 million yuan angel investment fund, venture capital fund with a scale of no less than 1 billion yuan and a 3 billion yuan industrial development fund for major investment projects.
Officials said the zone will also develop a range of other policy based debt financing products. It will gradually form a policy-based debt financing product system featuring different stages, types and modes through cooperation with banks, guarantees and other financial institutions.
Officials said that in order to ensure the orderly implementation of the plan -- and guarantee the construction of various fund pools, fund groups, product R&D and platform services -- the zone's finance bureau will also arrange no less than 300 million yuan of guaranteed funding.