While enterprises of all sizes in Zhong Guan Cun (ZGC) are racking their brains to cope with the challenges posed after WTO entry, Beijing Commercial Bank's promise will undoubtedly mean "a shot" in the arm of ZGC. According to sources, the said Bank is going to gradually inject 30 billion Yuan into ZGC in the coming five years.
To meet various challenges brought about by WTO entry, Beijing Commercial Bank will offer 10 billion yuan loans as aid to ZGC for infrastructure construction, another 10 billion yuan for the development of small and medium-sized hi-tech growth enterprises, the third 10 billion yuan for the development of small and medium-sized startup hi-tech enterprises.
In addition, the said Bank will support the development of all kinds of startups and incubation institutions. Other services include opening up green fund-raising channels for returned overseas students to start up enterprises; holding financial product promotion meeting and secured loan business training class, providing financial consulting services and training for such enterprises; constantly producing new financial products to provide such enterprises with different, specific services; taking an active part in the experimental work related to the credit system; bettering the credit evaluation process and optimizing the layout of the business outlets, thereby providing all-directional financial settlement services for small and medium-sized hi-tech enterprises.
It is reported that on the day of China's WTO entry, Beijing Commercial Bank extended loans worth 400 million yuan to 10 hi-tech enterprises in ZGC, including the Beijing ZGC Software Co. Ltd. and Beijing ZGC IT Co. Ltd. It??s said the capital will be used in the renovation of the East Road of Yuan Ming Yuan Park, ZGC first-grade land development, ZGC IT network construction and the development of small and medium-sized enterprises.
( People's Daily November 14, 2001)
