August 16, 2013
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The Zhongguancun Administrative Committee and the Export-Import Bank of China (China Exim Bank) have recently signed a strategic cooperation agreement. In future, both sides will offer specialized financing support to small and medium-sized enterprises (SMEs) in Zhongguancun so that they can export their products and technologies, and invest overseas more swiftly and at a lower cost.
According to the agreement, the China Exim Bank will give priority to SMEs in the Zhongguancun National Independent Innovation Demonstration Zone in the provision of financial support in the following areas: the export of general machinery and electrical products, new- and high-tech products, and complete sets of equipment, overseas investment, offshore resources development, overseas project contracting, and import of important resources and key technologies and equipment. The Zhongguancun Administrative Committee will offer soft loans and other preferential policies to reduce the funding cost of companies “going out” according to their scale.
The Beijing branch of the China Exim Bank and the Zhongguancun Administrative Committee will also provide the necessary training to SMEs in the Zhongguancun demonstration zone. As well, they will offer “one-stop service” covering financing scheme design, risk analysis and management, and legal and policy consultations to these enterprises.