Taixing city, located in East China's Jiangsu province, has been rolling out a series of innovative policy measures designed to pave the way for a substantial improvement in the development of its private enterprises.
The city's financial institutions are endeavoring to provide financial services to private enterprises and increase support for the real economy and major projects.
The Taixing Rural Commercial Bank has continuously implemented its credit product investment policies. This is to meet the regional, seasonal and cyclical production and operations capital needs of local businesses.
Located in the Taixing High-tech Zone, manufacturer Jiangsu Maikedao Environmental Technology, a company engaged in the design, production and sales of water treatment equipment, is one of the beneficiaries of the bank.
Last year, the company won an order worth over 23 million yuan ($3.18 million) and urgently needed funds to purchase raw materials. In response, a loan of 10 million yuan from the bank solved the urgent needs of the firm.
Moreover, in 2023, the city issued a guideline to promote the high-quality development of the real economy in Taixing.
Under it, Taixing will allocate special funds every year to support the development of seven fields, including new industrialization, high-quality development of the modern service industry, innovation-driven development and foreign investment and trade development.
In 2024, the city delivered 150 million yuan to promote the development of the real economy, benefiting a total of 887 business entities and individuals.