Since the beginning of this year, the Guiyang Economic and Technological Development Zone (GETDZ) in Guiyang, capital of Southwest China's Guizhou province, has taken various measures to help market entities overcome difficulties and stimulate their vitality.
Guizhou Xigong Hydraulic Co based in GETDZ will participate in a bidding activity for rim system accessories in July, but the company was experiencing losses due to issues such as funds and workshops.
When the company was struggling, GETDZ's finance bureau quickly helped the company connect with the bank and provided the company with a mortgage-free loan of 1.95 million yuan ($291,739.26) through the Agricultural Bank of China.
"Compared with other loans, this loan has simpler procedures and does not require collateral. It is received in less than a week," said Cao Shuili, office manager of Guizhou Xigong Hydraulic Co.
In addition, with the help of GETDZ's finance bureau, the company has found a suitable workshop.
Focusing on the cultivation and growth of high-tech enterprises, GETDZ has developed a scientific and technological innovation index.
Based on the index, GETDZ provides enterprises with technological innovation loans to help small and medium-sized high-tech enterprises deal with liquidity difficulties.
The index has 15 innovation indicators in three categories: innovation foundation, innovation input, and innovation output. Through internet data, public data of various departments, and confirmation data, the scientific and technological enterprises are evaluated, and the top 10 enterprises on the whitelist are eligible to apply for the science and technology loans.
Since the establishment of the index, GETDZ has applied it to science and technology finance and project construction, and implemented unsecured loans for technological innovation for enterprises.
So far, GETDZ has issued a total of 11.5 million yuan in science and technology innovation loans to five enterprises.