ZGC Financing Guarantee Company Helps the implementation of China’s First “Combination Program of Investment and Loan”
On November 25, ZGC Financing Guarantee Company signed an agreement of “Investment + Loan + Guarantee” with the Beijing Branch of China Development Bank (“CDB”), CDB Technology Venture Capital co., Ltd., Beijing Renchuang Ecological Technology co., Ltd. (one of Zhongguancun Key Sci-tech Enterprises in Beijing). It is the first program in China to support technological start-ups with the combination of investments and loans, mainly for the design and R&D of technology green cycle products.
As the only cooperative guarantee agency of the Beijing Branch of CDB, ZGC Financing Guarantee Company provides full credit guarantee for bank loans under the program. Through sharing loan risks, it promotes the implement of cooperative projects and the development of Zhongguancun sci-tech start-ups.
The program is a useful attempt to innovate financial service mode and an important move to optimize the structure of financial supply. It will facilitate the exploration of a new mechanism for the banking to support the innovation-driven development strategy and “mass entrepreneurship and innovation”.
ZGC Financing Guarantee Company will continue to work with all relevant parties to actively implement the “Combination Program of Investment and Loan”, and better serve the development of Zhongguancun Demonstration Zone and sci-tech start-ups.
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