The Zichuan district of Zibo city, located in East China's Shandong province, held a meeting to promote cooperation between banks and enterprises on Feb 14 – as part of a wider bid to boost its local economy.
Initiated by the district government, the meeting offered a platform for leading financial institutions and major investment projects in Zibo to seek business opportunities.
Data showed that the institutions intended this year to offer 67.35 billion yuan ($9.79 billion) of financial support to enterprises, including 10.36 billion yuan worth of agreements signed onsite.
As a strong capital chain is regarded as being an important guarantee for the progress of industrial projects, Zichuan has rolled out a group of measures to ensure a strong capital chain for key projects in the district.
At the start of the year, local government officials visited 160 projects with investments totaling 120 billion yuan, organized financial institutions to address their financing needs and offered targeted support to help them solve any problems.
Furthermore, Zichuan district has continued to increase its financial support to empower the real economy, innovated its working mechanisms and carried out large-scale financial policy publicity events in recent years.
In the past three years, the annual financial support offered by the district government has increased by more than 4 billion yuan.
What's more, a document facilitating Zichuan's high-quality growth through financial empowerment provides incentives for financial institutions and practitioners – demonstrating the local government's determination to develop finance.
