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Government and business link to battle financial storm
By Staff Reporters |
February 7, 2009, Saturday
|
Print Edition
Print Edition
AS the global economic crisis also hits China, Minhang government and the district's businesses are joining together to battle the economic storm.
On January 12, the local government staged a forum to help solve financing and fund-raising problems for the district's small and medium-sized businesses.
More than 20 financial institutions attended the forum, including China Development Bank Shanghai branch. The forum also attracted more than 300 companies.
Eight banks and finance houses signed contracts with 82 businesses, offering loans totaling 19.2 billion yuan (US$2.82 billion).
Another 23.4 billion yuan will be offering to local firms this year, a 50-percent increase over the same period last year. Ten new banking outlets will be established in Minhang to help small businesses.
"The fund injection and loan services can greatly ease the financial tension for companies, which are now in a very difficult period," said Minhang District Governor Chen Jing.
"It also helps guarantee and propel the healthy growth of small companies."
The governor said he appreciated the cooperation between the financial institutions and businesses. He noted that, faced with the economic crisis, the government has to work more efficiently as a bridge between companies and banks.
Businesses were grateful at the support of the government and the banks. "The support from the government is a big boost to our morale in this difficult economic climate," said Shanghai Rizhisheng Hi-tech Co Ltd.
At the start of the economic collapse, the Minhang government launched a series of forums and lectures for local businesses.
Early last December, the district's 19 bureaus and departments held a forum organized by the Minhang government for the district's small and medium-sized companies that offered face-to-face consultation to help them survive the economic crisis. More than 200 companies attended that forum.
Another forum was held at the Zizhu Hi-tech and Science Park sponsored by the Minhang Science and Technology Commission and the Zizhu Career Incubator Center, and attracted more than 70 companies.
On January 12, the local government staged a forum to help solve financing and fund-raising problems for the district's small and medium-sized businesses.
More than 20 financial institutions attended the forum, including China Development Bank Shanghai branch. The forum also attracted more than 300 companies.
Eight banks and finance houses signed contracts with 82 businesses, offering loans totaling 19.2 billion yuan (US$2.82 billion).
Another 23.4 billion yuan will be offering to local firms this year, a 50-percent increase over the same period last year. Ten new banking outlets will be established in Minhang to help small businesses.
"The fund injection and loan services can greatly ease the financial tension for companies, which are now in a very difficult period," said Minhang District Governor Chen Jing.
"It also helps guarantee and propel the healthy growth of small companies."
The governor said he appreciated the cooperation between the financial institutions and businesses. He noted that, faced with the economic crisis, the government has to work more efficiently as a bridge between companies and banks.
Businesses were grateful at the support of the government and the banks. "The support from the government is a big boost to our morale in this difficult economic climate," said Shanghai Rizhisheng Hi-tech Co Ltd.
At the start of the economic collapse, the Minhang government launched a series of forums and lectures for local businesses.
Early last December, the district's 19 bureaus and departments held a forum organized by the Minhang government for the district's small and medium-sized companies that offered face-to-face consultation to help them survive the economic crisis. More than 200 companies attended that forum.
Another forum was held at the Zizhu Hi-tech and Science Park sponsored by the Minhang Science and Technology Commission and the Zizhu Career Incubator Center, and attracted more than 70 companies.
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