Chengdu Fuels Industrial Growth with Innovative Finance Strategies
Chengdu, a major city in southwestern China, is making significant strides in boosting its industrial sector through a proactive approach to financial innovation. A recent conference, the 2024 Chengdu Industry and Finance Innovation Investment and Financing Conference, highlighted the city’s success in connecting industries with crucial financial resources.
The ”Garden Full” industry and finance escort action, hosted by the Chengdu Municipal New Economic Commission and other key organizations, focused on streamlining access to capital for businesses. The event awarded prizes to outstanding financial institutions for their contributions to industrial growth, recognizing their innovative approaches to lending and support.
“Based on Chengdu’s actual conditions, we have launched financial products such as science and technology innovation loans, specialized new loans, and technology start-up loans to innovate credit models and reduce corporate financing costs,” explained a representative from the award-winning Chengdu Rural Commercial Bank. “We will continue to focus on key areas, actively explore new models and new paths for financial services, accurately support the innovative progress and enduring growth of technology companies, and inject financial vitality into the development of new quality productivity.”
Addressing economic Challenges with Innovative Solutions
Facing a complex global economic landscape, Chengdu is actively working to strengthen the integration of industry and finance. Jiang Yongmu, Dean of the School of Economics and Dean of the School of Marxism at Sichuan University, provided key recommendations during a keynote speech, emphasizing the importance of targeted policy, improved financial services, and enhanced details sharing between industry and finance.
The conference also featured presentations from leading companies like chengdu Bones Medical Robot co., Ltd., Terui Dechuan Kai Electric Co., Ltd.,and Siemens (China) Co., Ltd. Chengdu Branch, showcasing their innovative products and financing strategies.
“This event aims to implement the work plan of ‘establishing a full park,’ empowering industries with finance, strengthening the industrial foundation, and improving the quality of the park,” stated a representative from the New Economic Committee of the Chengdu Municipal Economic and Information Bureau. The bureau highlighted its efforts to directly assist businesses, noting that “as of mid-December, a total of 14,000 industrial enterprises have been visited, and a total of more than 5,300 problem appeals have been resolved, with a settlement rate of 99% above.” This proactive approach has contributed to a remarkable 53.9% industrial investment growth rate in November, placing Chengdu first among 15 sub-provincial cities in China.
The success of Chengdu’s initiatives offers a compelling case study for other cities seeking to foster economic growth through strategic financial partnerships and innovative support for businesses.
