600 Billion Credit Line Boosts Development of Private Enterprises in Shenzhen
Shenzhen Federation of Industry and Commerce Signed an Agreement with 5 Banks
In the next 3 years,5 banks including China Construction Bank will provide 600 billion credit line to private enterprises and social organizations and jointly set up financing platform with them. Five banks and City Federation of industry and Commerce signed a cooperation agreement in the fourth session of the 6th Shenzhen City Federation of industry and Commerce (General Chamber of Commerce)Held on Sept 24.
At present, there’re 112 basic organizations directly controlled by City Federation of Industry and Commerce , more than 16,000 enterprise members and 43 municipal corporate members. The “two new” project of the City Federation of industry and Commerce,which is about assist party members in need friendly, has won the award “ten highlights” of the National Federation of industry and commerce system . The project has raised more than 20,000,000 yuan.All money will be used to help difficult members in “two new” organization.
The Construction Bank, Minsheng Bank, China Merchants Bank, Pingan Bank and CITIC Bank and the Shenzhen City Federation of Industry and Commerce signed a private small and medium enterprises financial strategic cooperation agreement in the meeting. The two sides will take the business finance model for cooperation and the bank will provide 3 years of 600 billion credit lines to the city’s private enterprises and social organizations. They will adopt diverse financing types to set up financing platform together.
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