At the Beijing venue of the 2020 National Mass Innovation and Entrepreneurship Week and the launching ceremony of the Zhongguancun Innovation and Entrepreneurship Season held on October 15, 2020, CDB Beijing Branch, as the only participating financial institution, signed an agreement with the Zhongguancun Science Park Management Committee and Beijing Zhongguancun Sci-tech Financing Guaranty Co., Ltd. on the Capital Cooperation Program for Manufacturers, marking the official entry of the program in the Zhongguancun Science Park.
It is reported that as an innovative financial service model designed by CDB to support micro, small and medium-sized enterprises (MSMEs) with development finance, the program aims to provide targeted, low-interest, and easy-to-use loans for batches of promising manufacturing MSMEs and support the transformation and upgrade of the manufacturing industry through win-win cooperation between banks, local governments, and companies. The first phase of the program is designed to last for five years, with a capital volume of 3 billion yuan. The Zhongguancun Management Committee will recommend outstanding advanced manufacturing enterprises in the Zhongguancun Demonstration Zone, for which CDB Beijing Branch provides low-cost, long-term funds and Zhongguancun Sci-tech Financing Guaranty Co., Ltd. provides credit support. Taking into full consideration the economic and social benefits, they will work together to identify and support a group of advanced manufacturing enterprises in Zhongguancun and help them quickly establish the capital chain. The move will protect and vitalize market participants, and boost the high-quality development of manufacturing in Zhongguancun Demonstration Zone.
According to CDB, the three parties will continue to bring out synergistic advantages in their cooperation and work together to respond to challenges such as difficulties in financing and soaring financing costs confronting these enterprises. With a strong focus on key links and crucial technologies, more steps should be taken to upgrade manufacturing in the Zhongguancun Demonstration Zone and build Beijing and the Beijing-Tianjin-Hebei region into a world-class advanced manufacturing cluster.
It is estimated that CDB has granted a total of 25.8 billion yuan in loans under this program in Beijing this year. The funds will make a huge difference in the transformation and upgrading and high-quality development of the manufacturing industry in Beijing. In response to the severe impact of the COVID-19 epidemic on Zhongguancun enterprises at the beginning of the year, the aforementioned three parties jointly launched the Zhongguancun Enterprise Anti-pandemic Development Loan to provide afflicted enterprises with a package of comprehensive, low-interest and fast loans that played an active role in their resumption of work and production and stable and healthy development.
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