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Tonghua City expands financing channels for private enterprises
2013/02/28     Source:

Tonghua City actively expands financing channels for private enterprises, actively provide business-friendly services for private enterprises, promotes enterprises’ direct financing and indirect financing, puts forth effort to break financial bottlenecks, and highlights expanding the total quantity and optimizing the structure of private economy.
Bank-government cooperation and bank-enterprise docking facilitates direct financing for enterprises. On the one hand, Tonghua City takes the initiative in communication and collaboration with the banks in Tonghua, and explores new forms of bank-enterprise-security cooperation. It has organized 19 financial docking activities of various forms, signed 392 loan projects, with line of credit reaching nearly 4 billion yuan. On the other hand, it actively introduces extraterritorial financial institutions, and the first joint-stock commercial bank China Merchants Bank was officially settled in Tonghua last year, which injected financial vitality into the city's private economy development.
The pilot of small loan companies provides blood for small and micro enterprises. In accordance with the financial principles and policies of the country, Tonghua City has timely started the pilot of small loan companies. Adhering to the small-amount and dispersed principle, it takes medium, small and micro enterprises in private economy as the object of financial services, and provides financing needs for enterprise development. By the end of last year, the city has developed 50 small loan companies, with registered capital of 650 million yuan, and the cumulative balance of loans is 2 billion yuan.
It issued preferential policies to encourage enterprises’ capital financing. Last year, Tonghua City and Shanghai Equity Exchange Center reached consensus on cooperation, and established Tonghua Shuangji Securities Corporation to promote the listing of enterprises in Shanghai Equity Exchange Center. Furthermore, the opinions on promoting enterprise listing introduced by Tonghua City has further strengthened tax support by giving a reward of 300,000 to 500,000 yuan to the enterprises that succeed in listing. At present, the city has eight companies successfully listed and four enterprises listed in Tianjin Equity Exchange Center and Shanghai Equity Exchange Center. The number of listed companies ranks third in the province. Through IPO and refinancing, they raised 7.68 billion yuan of funds. It is expected that, by the end of this year, the city will have 10 companies listed in Shanghai Equity Exchange Center.
It tracked the policy trends, and provides services for listing of enterprises for financing. Tonghua City also actively tracked changes in the country’s policies, focused on new third board market, set up a leading group for enterprise listing, and developed opinions to promote enterprise listing. At the same time, Tonghua City repeatedly invited Shanghai Equity Exchange Center and securities traders to give training to the manages of more than 50 non-listed public companies in the city, and encouraged enterprises to rely on the capital market to continue to improve product level, management level and market competitiveness.

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