Since the beginning of this year, Huai'an's financial sector has focused on three key areas, policy supply, platform empowerment, and specialized services, to accelerate the concentration of financial resources in the real economy. By the end of April, the city's loan balances for the manufacturing sector, private enterprises, and small and micro enterprises grew by 23.78%, 8.77%, and 28.22% year-on-year, respectively.

Regarding policy supply, the city implemented re-lending policies for scientific and technological innovation and technological transformation. By the end of April, 147 tech enterprises and 139 equipment renewal projects citywide were included in the scope of support, with loan contracts totaling RMB 15.733 billion signed. Combined with fiscal interest subsidies, the effective loan interest rates for some enterprises have dropped below 1%, effectively easing their financial pressure.

Regarding platform empowerment, the Huai'an Enterprise Credit Service Platform was established, aggregating 160 million pieces of credit data across 46 categories from 15 departments and establishing credit files for 842,000 enterprises. The platform has helped over 900 enterprises secure RMB 6.35 billion in financing, reducing the average approval cycle by 5 to 7 days.

Regarding specialized services, a financial advisor system for technology-based incubation enterprises was established, with 66 advisors from 22 banks paired with 100 such enterprises. Currently, 12 enterprises with plans for new financing have been identified. The needs of seven have been met, with RMB 31.33 million in new credit granted and RMB 16.83 million in new credit utilized.

Looking ahead, Huai'an will continue to improve the government-bank-enterprise matchmaking mechanism, expand the breadth and depth of financial services, and build a financial services system that covers the entire lifecycle of enterprises.