Shandong Will Shift From Self Financing To Application For Loans.

Wang Junmin, member of the Standing Committee of the Shandong provincial Party committee and vice governor of Shandong, told the Shandong provincial quality TV conference held in Henan Province recently that in response to the financial crisis, the central government will invest 1 trillion and 180 billion yuan in 2010 to drive the whole country to invest 4 trillion yuan, of which the total investment of the province will reach 667 billion 800 million yuan.

In order to implement the investment plan, Shandong is actively contacting banks and other financial institutions in order to get more financial support from financial institutions.

"First Financial Daily" learned from the Shandong provincial industrial operation headquarters. On the 11 day, the Shandong provincial economic and Trade Commission introduced 979 investment oriented projects in 2009 to financial institutions, including 604 technological pformation projects and 375 key projects for energy conservation and consumption reduction.

The total investment of these projects is about 222 billion 500 million yuan, and loans for financial institutions are about 114 billion 400 million yuan.

According to the information from the above command department, at present, the capital of Shandong enterprises is still the main channel for investment in technological pformation, and loans from financial institutions are not many.

In the first 10 months of this year, the manufacturing industry of Shandong province completed investment in technology pformation of 319 billion 900 million yuan, accounting for 82% of all technological pformation funds and only 9% of bank loans.

The 979 key projects introduced in this paper need to apply for a bank loan of 114 billion 400 million yuan, the self financing of the enterprise is 95 billion 300 million yuan, and some other funds need to make use of foreign capital.

This has changed greatly since the previous source of funds was mainly owned by enterprises.

Strategic cooperation with ABC and ICBC has also responded to financial institutions.

Yang Ziqiang, President of the Ji'nan branch of the people's Bank of China, demanded that all banking institutions should understand and implement moderately loose monetary policy and actively increase their credit supply.

Shandong province is making use of the opportunity of the state to expand investment and adopt moderately loose monetary policy, and intensify consultations to establish strategic cooperative relations with financial institutions so as to win financial support from financial institutions and "work hand in hand and overcome difficulties together".

The first Financial Daily reporter learned that Shandong has signed a strategic cooperation agreement with the Agricultural Bank of China.

According to the agreement, the Agricultural Bank of China will take Shandong as an important strategic cooperation Province, actively raise funds and increase credit, and focus on supporting the pportation system, key energy projects, shanty towns pformation projects, construction of hundreds of millions of Jin of grain production capacity, the project of benefiting agriculture card, and the construction of agriculture, forestry and water conservancy projects.

At that time, Shandong iron and Steel Group Co., Ltd., Shandong high speed Group Co., Ltd. and Shandong Linyi new Cheng Luo Products Co., Ltd. signed 35 billion yuan, 30 billion yuan and 2 billion 500 million yuan comprehensive financing agreement with the Agricultural Bank of China respectively.

According to the official website of ICBC and the local media in Shandong, Shandong has also agreed on strategic cooperation with ICBC, and will sign a strategic cooperation agreement in the near future.

In accordance with the agreement reached between the two sides, the Shandong provincial government will invite ICBC to become a government financial adviser, giving priority to the ICBC to provide related financial services in the course of quality project development, merger and reorganization of enterprises and other businesses.

At the same time, ICBC will increase its support for Shandong's economic development. It will focus on supporting Shandong's infrastructure, basic industries, advanced manufacturing, small and medium enterprises, export-oriented industries, modern service industries and protection of people's livelihood and other key projects, and actively use various investment means to help Shandong solve the matching funds of key national projects and ensure the effective demand of Shandong's real economy for financial services.

Yang Jing: editor in charge