900-million Special Fund to Promote Development of SMEs

According to news from Ningbo Finance Bureau, a 900-million special fund granted by the Central Government to Ningbo has been available, which will be applied to six aspects to promote the start-up and innovation of SMEs.

It is known that with respect to SMEs' capability of business start-up and innovation, Ningbo will conduct a comprehensive rating according to their start-up & innovation bases and high-tech business incubators. The enterprises will be divided into A, B and C ranks and in line with their ranking, they will separately receive subsidies of one million yuan, 500 thousand yuan and 300 thousand yuan. As for those state-level exemplary enterprises, each of them will be granted up to two million yuan in one time.

To optimize the financing environment, Ningbo encourages financing guarantee institutions to expand the financing scale for SMEs. It also ushers in an innovative risk-sharing mechanism: a municipal-level compensation fund is going to be established; three parties financing guarantee institutions, the municipal government and financial institutions will be responsible for the loss of industrial SMEs which is contributed to less-than-three-million-yuan policy-related financing businesses.

In terms of enhancing SMEs' vitality, funds of no less than 100 million yuan will be utilized to stimulate the implementation of great start-up & innovation projects with each receiving up to 200-thousand-yuan initial capital.

LINK:	http://en.nbwh.gov.cn/art/2017/5/1/art_1325_96105.html...
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