Guanxian County, Shandong Province Joins Hands with 24 Financial Institutions to Enhance Financial Supply Capacity

GUANXIAN, China, July 19, 2024 /Xinhua-AsiaNet/–

On July 11, a policy briefing and on-site work meeting for the Shandong Provincial Financial Advisory Team took place in Guanxian County, Liaocheng City, Shandong Province. During the meeting, Guanxian County People’s Government signed a strategic cooperation agreement with 24 financial institutions on financial support for high-quality development of Guanxian County, and issued “financial advisor” appointment letters to the heads of the 24 financial institutions. Additionally, the launching ceremony of the “Guanxian Supply Chain Finance Service Platform” was held, and agreements were signed between Runchang Rural Commercial Bank and Liaocheng City Management Center of Shandong Agricultural Development Credit Guarantee Co., Ltd. for a co-risk sharing cooperation, as well as intention letters for 800 million yuan in loans with eight bank representatives.

Image: Meeting scene

With financial support flowing in, rural industries flourish. To enhance the added value of ganoderma lucidum, Shandong Xiancao Biotechnology Co., Ltd. had to build a series of standardized production greenhouses and clean workshops. When faced with funding challenges, the company posted a loan request of 2 million yuan on the “Guanxian Rural Revitalization Financial Service Platform” via the mobile app. Shortly after, banks proactively called to discuss the loan, and the company selected a suitable banking institution. The following day, the vice mayor in charge of finance and relevant bank staff provided on-site service, quickly resolving the company’s financial needs.

“Guanxian County will further deepen its new model of ‘1234N’ for financial empowerment of rural vitalization throughout the entire county, while exploring new paths and accumulating experiences to provide references for financial empowerment in rural areas at the municipal, provincial, and national levels,” said Zhang Xuehong, secretary of the CPC Guanxian County Committee. He elaborated that Guanxian County will enhance the sharing of enterprise-related information among departments by establishing a platform for government-bank collaboration to break down “data silos” and “information islands.” Guanxian County will also assist financial institutions in creating accurate credit profiles for enterprises to improve the efficiency of bank-enterprise cooperation, and introduce new policies, products, and models to be piloted in Guanxian County for mutual benefit and win-win outcomes in alignment with the economic and social development.

Image: Signing of agreements