From October 29th to 31st, 2018, 12 members of Mak & Gu & Tsang Law Firm, Xiangzhou United Front Department and Xiangzhou Intellectual Association went to Futian and Qianhai, Shenzhen, and Tianhe, Nansha, Guangzhou, to survey the mathod of solving medium small companies’ difficulties in financing and improving financial risk management.
On the afternoon of October 29th, at the Futian United Front Service Center, Yaming Zhu, the Deputy Standing Officer of Futian United Front Department, gave the visitors an introduction of the center, details about the department’s innovative project, a new platform called “Untied E Station”. The platform combines virtuality and reality, online and offline, headquarter and branch. Bolin Mai, the head of Mak & Gu & Tsang Law Firm, introduced Xiangzhou’s development of third industry, medium small companies, finance and supporting policies. The representative of Futian Enterprise Service Center introduced Futian’s measurements in supporting medium small companies, highlighting the newly amended “1+9+N” industry financing policy which included 140 artcles and 280 projects. The budget on the policy is 1.8 billion yuan totally and the interest subsidy for a single company could reach 100,000 yuan.
On the afternoon of October 30th, Xiaomin Tao, the deputy head of the United Front Department of Tianhe, introduced the district’s serial policies for industrial boost and scientific and technological innovation. The policies, ‘promoting Hong Kong, Macao and Taiwan youth innovation and entrepreneurship’ was the firstly issued in China. The heads of financial institutions of Tianhe showed their finance products of medium small companies and discussed the current difficulties in medium small companies’ financing to the visitors.
On the morning of October 31st, at the Nansha government, Guangzhou, Jinghui Qiu, the deputy head of the Nansha United Front Department, introduced the "1+1+10" industrial policy system. The policy encouraged financial institutions provide service to the Nansha companies and set up a 30 million yuan “Sciences and Technology Credit Risk Fund Pool”. When the loans of high-tech medium small companies went bad, the municipal government, the district government and the banks according to different state to shared the loss in the proportion of “50%: 25%: 25%”, which prompted banks lend loans to the high-tech medium small companies.
Through this survey, we learned about the relevant policies and measures of the Guangzhou and Shenzhen government to promote the development of SMEs, and provided experience for the research work.
