The Zhongguancun administrative committee and the Export-Import Bank of China have signed a strategic cooperation agreement. In the future, both sides will offer professional financing support to SMEs in Zhongguancun so that faster products, technology and international capital expansion can be achieved.
Upon signing the contracts, the Export-Import Bank of China will give priority to financially support SMEs in Zhongguancun in the following areas: general mechanical and electrical products, new high-tech products, export of complete sets of plants, overseas investment, overseas resources development, project overseas contracting, and imports of key technology and equipment. The Zhongguancun administrative committee will offer favorable policies to reduce the funding cost of companies "going out"according to the scale of the enterprises.
"We encourage enterprises to use debt from banks instead of their own money when they are carrying out overseas mergers and acquisitions. This is because all qualified enterprises in Zhongguancun will get discounts in interests that can reduce their funding costs," said a staff at the department of finance in the Zhongguancun administrative commission.
"When companies are seeking funds in equipment exports and overseas investment, the Export-Import Bank of China has some advantages over commercial banks in China, such as lower interest rates. The cooperation between Zhongguancun and the Export-Import Bank of China will enable enterprises in the parks to make better use of these advantages," said a professional in a credit rating agency
The Export-Import Bank of China and the Zhongguancun administrative commission will offer training to SMEs in Zhongguancun. They will also offer one-stop services covering financing scheme design, risk analysis and management, and legal and policy consultations.
Edited by Wang Yifei and Michael Thai