Creative financing stimulates growth in emerging industries

Banking regulators are encouraging commercial lenders to help develop emerging industries, overhaul credit structures and look for new growth opportunities.

In Jiangsu province alone, the banking sector's balance of loans to strategic emerging industries, such as information technology, biomedicine and high-end equipment manufacturing, reached 469.49 billion yuan ($71 billion) by the end of June 2017, a rise of 12.5 percent since January.

This has involved banks offering innovative financial services like the use of intangible assets as loan collateral, the creation of credit guarantee funds and venture capital loans.