Wenzhou Bank Supports Smes To Develop Financing Channels

The Bank of Wenzhou is responsible for credit checking and providing guarantee. The Zhejiang branch of the import and Export Bank of China is responsible for the loan. A new financing channel opened by two banks to Wenzhou's export oriented enterprises has already benefited local enterprises.

Recently, an application for a loan of 5 million yuan by an electrical appliance company in Yueqing has passed the credit check of the Bank of Wenzhou. The enterprise can immediately obtain loans from the Zhejiang branch of the China Import and export bank to supplement the liquidity needed by the enterprises.

"Wenzhou has already started the campaign of" expanding the market and ensuring growth ". As a bank of Wenzhou people, we must respond positively.

Xing Zengfu, governor of Wenzhou bank, said.

In order to better support the local SMEs to deal with the crisis, the Bank of Wenzhou has taken the initiative to assume the social responsibility of the local legal entities, and actively carry out cooperation with the other industries, diverting water into the canal, and providing a blood pfusion for the local economy.

This cooperation with the Zhejiang branch of the Export Import Bank of China is a financing platform jointly built by both sides for financing Wenzhou's export-oriented SMEs. It will provide a full range of foreign currency financing services for overseas investment, import and export of products and equipment, and foreign exchange earning by Wenzhou's small and medium-sized enterprises. The initial funding limit of 100 million yuan has been officially launched.

In order to lighten the burden on enterprises, the Bank of Wenzhou and the Zhejiang branch of the China Import and export bank agreed to lower the threshold on the application objects, relax restrictions on the financing quota, and the loan period can be up to 3 years, with reference to the benchmark lending rate of the people's Bank of China at the same time.

It is learnt that in order to better support SMEs, the Bank of Wenzhou also introduced 8 billion 500 million yuan of interbank credit.

At the same time, the bank also applied to the people's Bank of China for a further loan of 300 million yuan with a pledge of fixed assets to support the quality of small and medium-sized enterprises in Wenzhou.

In addition, the Bank of Wenzhou has also actively engaged in intermediary business such as entrusted loans, absorbing private lending funds into the bank credit system.

Yang Jing: editor in charge