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Zhongguancun innovative entrepreneurship acquires support from 18 banks
(chinadaily.com.cn)
Updated: 2014-01-17

The simplicity of registration and the accessibility of venture capital are two vital parts for innovative entrepreneurship in the Zhongguancun Science Park. In order to enhance the cost performance of the capital, and ease the financing problems, Zhongguancun has constructed its own technological financing service system, and conducted a series of incentive programs, including the incubation of innovative enterprises dubbed "gazelles" due to their high growth rate.

The plans focus on solving financing problems in small and medium-sized companies, and attracting finance-related institutions and organizations to locate in Zhongguancun.

A total of 18 banks – including Bank of Beijing - have set up sub-branches in Zhongguancun, aiming to provide credit and loans for hi-tech [NOTE: PLEASE CHECK] small-or-micro-sized enterprises.

The Zhongguancun Sci-tech Guaranty Co Ltd has established a business division concentrating on small and micro-sized companies in Zhongguancun, which has provided financial assurance of almost 86 billion yuan ($14.22 billion) to over 15,000 tech enterprises, with medium, small, and micro-sized companies making up over 90 percent of the companies, and small-and-micro-sized companies making up almost 70 percent.

At the end of October, the loan balance for high and new technology enterprises at Zhongguancun was 112.9 billion yuan, involving 2,384 companies.

Edited by Chen Zhilin and Niva Whyman

 

Zhang Yiping

Director of the Minor Enterprise Service Center of the BMDRC

 

Yu Jun

President of Zhongguancun Development Group

 

Yu Yang

President and CEO of Analysys International

 
 

Zhongguancun Science Park