On 13 November 2020, the Zhongguancun Management Committee organised a press conference to announce the development of 30 new innovative credit products for local micro, small and medium sized tech enterprises (MSMEs). The new innovative credit products were developed by 14 financial institutions and professional service agencies in Beijing, and cover 8 main areas:
- Intellectual property: e.g. the China Construction Bank has developed the “S&T Cloud” product, which grants a one-year revolving loan of up to 2 million RMB, to MSMEs, based on an assessment of their IP rights. The application process is simple and entirely made online. The applicant MSME must possess HNTE or Tech-based SME status.
- R&D: e.g. China Merchant’s Bank (Beijing branch) has developed a product offering to enterprises with good market prospects and a certain scale and financial stability, a one-year secured loan of up to 5 million RMB. Applicants must possess national or Zhongguancun level HNTE status;
- Innovation and entrepreneurship: e.g. the Zhongguancun Bank offers a three-year loan of up to 10 million RMB, to legal representatives, actual controllers, shareholders or senior managers of HNTEs launching external enterprise cultivation or incubation projects.
- Investment-loan linkage: e.g. the Zhongguancun Bank offers a one-year unsecured loan of up to 1 million RMB, to innovative tech enterprises based on their credit within local tax authorities (i.e. the amount of taxes and fapiaos registered within the local tax authority). Applicants must possess HNTE status.
- Supply chain: e.g. the Bank of China (Beijing branch) has developed a product offering mid-to-long term loans of up to 50 million RMB, to upstream tech enterprises based on their business background and their suppliers.
- Key enterprises: e.g. the Bank of Beijing (Zhongguancun branch) has developed a “Frontier S&T credit” product, which grants a three-year credit loan of up to 20 million RMB to local HNTEs for the transfer and conversion of scientific achievements in frontier science areas (e.g. AI, healthcare and pharma, integrated circuits).
- Bank-tax interaction: e.g. the “Tax-Bank e-credit” product developed by the Agricultural Bank of China (Beijing branch), offers to micro and small tech enterprises a 1 million RMB worth of revolving or unsecured loan based on their tax credit, through mobile banking or online banking channels.
- S&T park: e.g. Beijing Zhongguancun S&T Financing Guarantee Co., Ltd. offers a three-year loan of up 20 million RMB to local HNTEs signing leasing agreements within collaborative S&T parks.