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Over 40% of Sci-tech Innovation Enterprises in Shandong’s Jinan Benefit from Credit Support

Source：Haibao News 12-06-2023 11:00:00

By the end of September 2023, 3,577 science and technology (sci-tech) innovation enterprises in Jinan have been provided with credit support.

It has been reported that Jinan has utilized its piloting and testing advantages to a great extent over the past two years. The city has increased support for sci-tech innovation financial franchises, loans for sci-tech innovation enterprises, and sci-tech insurance. Furthermore, financial institutions have been guided to introduce special credit products for sci-tech innovation enterprises, such as the "Science and Technology Innovation Loan", "Science and Technology Financing Loan", and "Science and Technology Listed Loan on the Beijing Stock Exchange". This has facilitated the integration of "sci-tech innovation-finance-industry" on a deeper level.

The main indicators for loans given to sci-tech innovation enterprises in Jinan have shown significant changes since the approval of the pilot zone. As of the end of September this year, the loan balance for these enterprises in Jinan was 178.02 billion yuan, with an increase of 68.31 billion yuan compared to before the pilot zone approval. The number of existing loans for sci-tech innovation enterprises also increased by 7,200 to reach 20,400. The average loan balance per loan was 8,726,000 yuan, an increase of 433,000 yuan from before approval. Additionally, the weighted average interest rate for these loans decreased by 74 basis points to 3.55% compared to before the approval.