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China Development Bank Beijing branch, CDB Capital, Zhongguancun Management Committee and Beijing Zhongguancun Sci-tech Financing Guaranty Co. Ltd. signed a framework agreement on venture loan cooperation of high-tech enterprises in Z Park on August 4.
The agreement indicates that tests of venture loan cooperation in Zhongguancun have had some successes and led to support from the banks.
The Zhonggauncun demonstration area and China Development Bank are the first regional financing institutes to conduct testing of high-tech enterprise venture loan cooperation.
Zheng Zhijie, president of China Development Bank, said the Zhonggauncun demonstration area is the best venture loan cooperation test zone and the bank would support the construction of Beijing innovation centers, particularly in the area.
Li Shixiang, executive vice mayor of Beijing, said the Zhongguancun area can set an example and share its experiences in venture loan cooperation for other areas, which could help to hasten the supply side reform and build a government-bank-enterprise linkage mechanism to further relieve financing pressure on high-tech enterprises.
He said the next step is to select the leading programs and improve Zhongguancun's venture loan cooperation.
