To further accumulate energy and increase momentum for the "North South Transformation" of the city, the "Shanghai Bay Area" has won a billion level financing support conference | Entity | City wide

Release time:Apr 13, 2024 21:52 PM

On June 15th, Jinshan District held the 2023 Jinshan Industry and Finance Conference, which aimed to ignite a new engine of finance and empower physical development. The conference announced the listing and landing of two municipal level financial service hubs and bases, as well as the official signing of 13 strategic cooperation agreements. The real economy of the Shanghai Bay Area received billions of yuan in funding support, further accumulating energy and increasing momentum for the city's "north-south transformation" development. Shanghai Vice Mayor Jie Dong attended the meeting.

"The spring of development in Jinshan District is approaching, calling for the watering of financial 'spring rain'." Liu Jian, Secretary of the Jinshan District Party Committee, expressed in his speech at the conference that he hopes that financial institutions will actively participate in Jinshan's' three transformations', inject more financial strength into key regional development, key industry development, key project construction, and key project promotion, and strive to use the 'blooming of financial products' to help the real economy' flourish '.

It is reported that the Jinshan District Committee and Government have attached great importance to financial work for a long time, and have carried out extensive cooperation with financial institutions. They have taken the lead in exploring the establishment of government investment funds in the city, established the Jinshan Financial Industry Federation earlier, and innovatively introduced policies and measures such as the "Golden 10 Measures". In 2020 and 2021, they were selected as pilot cities for the Ministry of Finance to support the deepening of comprehensive financial services for private and small and micro enterprises. The construction of the "One Network Smooth Financing" platform and the promotion of intellectual property pledge financing have been selected as typical cases of optimizing the business environment at the national and municipal levels, forming a virtuous cycle of integrated development of finance and the real economy.

In recent years, Jinshan District has firmly grasped the important opportunity of creating an inclusive finance demonstration zone, further focusing on optimizing policy supply, gathering factor resources, creating innovative projects, and digital empowerment for development. It has focused on the financing needs of market entities and opened up channels for financial resources to enter the real economy, especially small and medium-sized enterprises.

At this conference, the Jinshan District government reached a strategic cooperation agreement with 9 financial institutions, including the Shanghai Financial Industry Federation and the Shanghai Branch of the China Development Bank. The Jinshan Service Hub for Shanghai Inclusive Financial Advisor and the Shanghai Bay Area Service Base for Policy Financing Guarantee Funds for Small and Medium sized Enterprises were unveiled, further enhancing the overall level of Jinshan District's financial industry in serving the real economy.

Enterprises call for help, consultants respond accordingly. The "Inclusive Financial Advisor Jinshan Service Hub" jointly established by Jinshan District and Shanghai Financial Industry Federation will rely on an advisory team composed of nearly 30 leading experts from pilot financial institutions in the city to provide public welfare consulting services to enterprises. Starting companies with weak foundations can also directly reach "financial experts" and enjoy comprehensive financial tool planning, providing a "financial engine" for accelerating their growth. In addition, the district government will also deepen cooperation with major contracted financial institutions around serving the real economy, expanding inclusive finance, supporting rural revitalization, and supporting the reform of state-owned assets and enterprises.

The "Bay Area Loan" batch guarantee service is an important cooperation project between Jinshan District and the Municipal Guarantee Fund Management Center. Since the implementation of the project, it has become an important mechanism for small and medium-sized enterprises in Jinshan District to guarantee and increase credit. By providing special financing quotas in bulk and opening up the green channel for loan review and lending, it has effectively solved the problems of difficult and expensive financing for enterprises. At the meeting, the Municipal Guarantee Fund Management Center, Jinshan District Finance Bureau, and five cooperative banks in the new round of "Bay Area Loans" signed agreements, providing a special quota of 2.5 billion yuan.


To further accumulate energy and increase momentum for the "North South Transformation" of the city, the "Shanghai Bay Area" has won a billion level financing support conference | Entity | City wide

It is reported that this round is the fifth round of "Bay Area Loan" cooperation, and the first four rounds have cumulatively provided credit of 3.22 billion yuan to 589 enterprises. In 2022, with the support of the Municipal Guarantee Fund Management Center, Jinshan District added more than 6 billion yuan of policy financing guarantee loans.

On that day, 8 financial projects were officially signed, with a total scale of 8.63 billion yuan, involving various financial institutions such as banks, securities firms, insurance, funds, and various market entities such as state-owned and private enterprises in Jinshan District.

These financial projects are closely linked to the transformation of industries. For example, Agricultural Bank of China, Bank of China, and Construction Bank jointly provided a credit line of 2.5 billion yuan to Jinshan Baling New Materials in the form of a consortium, supporting the construction and operation of a major municipal industrial project - an annual production of 250000 tons of thermoplastic elastomers - and supporting Jinshan to accelerate the construction of a billion yuan high-end green chemical industry. For example, the Jinshan District Innovation and Entrepreneurship Guidance Fund actively lays out around the four major industrial clusters and strategic emerging industries, and has leveraged the sub fund scale of 8.3 billion yuan, nearly 20 times larger, supporting 159 enterprises with 4.8 billion yuan. This time, the Jinshui Lake Navigation Fund, which guides the fund to participate in the establishment, has also reached an investment intention with Jiakai Biotechnology, a high-tech zone enterprise in Jinshan District, to help enterprises enhance their full chain innovation capabilities in basic research, design and research and development, and production promotion.

At the same time, these financial projects are closely linked to the transformation of space. In 2022, banking institutions in the entire Jinshan district provided a total of 9.4 billion yuan in credit for major projects such as the LEGO Park main project, the Fragrant Town project, and the Zhongke Ecological Digital Port. At this conference, financial institutions have made continuous efforts. For example, Agricultural Bank of China, together with Industrial and Commercial Bank of China, Construction Bank, Postal Savings Bank, and Shanghai Pudong Development Bank, jointly granted a credit of 1.4 billion yuan to the "LEGO Park Supporting Commercial Street" project, providing functions such as passenger flow distribution and commercial entertainment for the park. For example, Haitong Securities assisted Shanghai Jinshan New City Construction and Development Co., Ltd. in issuing corporate bonds worth 900 million yuan, helping the company to promote the comprehensive development and construction of Jinshan Binhai International Tourism Resort at a high standard, high-level, and high-level level.

In addition, these financial projects are closely linked to governance transformation efforts. For example, Taiping Property&Casualty Insurance actively follows the new insurance logic of "underwriting+loss reduction+empowerment+claims", providing "enterprise property all risk insurance" services for Ailu Packaging, providing comprehensive protection for enterprise raw material storage, product processing, logistics transportation, etc., with a total coverage of 1 billion yuan. For example, Pacific Anxin Agricultural Insurance has deeply cultivated in Jinshan District, and has launched innovative ideas such as "reward for compensation" and "work for relief". It has successively launched products such as "rural comprehensive governance insurance", "rural comprehensive assistance insurance protection plan", and "living environment improvement insurance" to help improve the level of rural governance.

The conference also officially released the "2022 Jinshan District Financial Industry Development Report", which covers the financial formats, total financial volume, and effectiveness of financial services for the real economy in Jinshan District. It is reported that the development momentum of Jinshan's financial industry is stable. In 2022, the added value of the financial industry in the entire region was 4.91 billion yuan, a year-on-year increase of 7.2%, which is 2 percentage points higher than the city's growth rate. Among various types of loans, the balance of manufacturing loans, inclusive small and micro enterprise loans, technology loans, and credit loans have all achieved double-digit growth, with a growth rate of nearly 180% for green loans, showing a strong growth momentum.

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