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Shandong Issues 26 Policy Measures on Finance Supporting the Industrial Economy

Source：The Seanews 08-16-2023 11:26:56

Recently, the Local Financial Regulatory Bureau of Shandong Province, together with 14 departments including the Department of Industry and Information Technology of Shandong Province, jointly issued the Guiding Opinions on Finance Supporting the High-quality Development of the Industrial Economy in Shandong Province to guide more financial resources to the industrial fields.

Notably, the document has strengthened the overall coordination among financial policies, fiscal policies, and industrial policies. Based on a combination of various methods such as credit funds, insurance services, capital markets as well as guarantee and credit enhancement, the document has put forward 26 specific measures from seven aspects such as strengthening policy linkage, increasing the supply of credit to the industrial economy, expanding financing channels for industrial enterprises, innovating financial service models, and reducing the financing costs of industrial enterprises.

In terms of strengthening policy linkage, Shandong will carry out activities to empower the real economy through finance. Focused on industrial enterprises, Shandong will improve the financial guidance mechanism for 11 representative industrial chains, and promote the integration of industrial chains with capital chains, talent chains, and information chains. Meanwhile, revolving around expanding the financing channels for industrial enterprises, Shandong will coordinate various ways of "investment, loan, insurance and guarantee", promote industrial enterprises to establish connections with capital markets at different levels, support industrial enterprises in issuing bonds, increase fund investment and improve insurance service models.