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460 Billion Yuan of Financial Liquidity Will Flow into the Commercial Sector Throughout Shandong Province

Source：The seanews 05-08-2023 09:45:00

On the morning of May 6, the "Commerce + Finance" Jointly Promoting High-level Opening-up Matchmaking Conference for the whole province, co-hosted by the Department of Commerce of Shandong Province, the Shandong Provincial Department of Finance, the Shandong Provincial Local Financial Regulatory Bureau, and the Jinan Branch of the People's Bank of China, was held in Jinan. Related financial institutions have announced policy targets, including "Lu Business Loan", "Qi Lu Import Loan", "Qi Lu E-commerce Loan", "Tariff Insurance", and policy-based financing, with a total target of about 460 billion yuan.

The commerce system across the province has strengthened cooperation between commerce and finance, introducing a series of high-impact policy measures that have effectively supported the improvement and growth of the province's key commerce indicators. For instance, since the implementation of the "Lu Business Loan" three years ago, the number of participating banks has expanded to 26, with a total of 3,720 loans granted and a loan amount of 9.561 billion yuan. This has reduced the financing costs for enterprises by 78.31 million yuan, effectively helping to alleviate the financing difficulties and high financing costs faced by micro-, small and medium-sized export businesses. The "Qi Lu Import Loan" policy is supported by a government financing guarantee and risk compensation mechanism, providing import enterprises with preferential loan interest rates and guarantee rates, which fully supports enterprises in expanding their imports. To date, a total of 502 loans have been granted to enterprises, with a loan amount of 1.548 billion yuan, reducing enterprise financing costs by 23.28 million yuan. This has helped to alleviate problems such as concentrated demand for import funds and high pressure on capital sharing faced by micro-, small and medium-sized businesses.