Banks in Guiyang provide financial support to enterprises

The Guiyang Rural Commercial Bank accumulated 38.41 billion yuan ($6.08 billion) in funds in 2021 to support the local economic development of Guiyang, capital city of Southwest China's Guizhou province.

The bank invested in 11 fund projects in 2021, involving an amount of 1.29 billion yuan. It supported the development of major projects, key projects, and leading enterprises in Guizhou province and Guiyang city, with a total of 6.27 billion yuan in credit funds.

It optimized financial services and solved the capital needs of 13 projects including afforest plazas Project, the Qianchun Road reconstruction project, and the Sanqiaobei Road project.

The bank focused on supporting the ecological environment improvement, rural tourism industry, and other accumulated credit funds of 1.58 billion yuan. Additionally, it strove to build and continue to improve the financial technology platform of ecological animal husbandry industry.

It also introduced credit funds into the real economy helping small and micro enterprises with a loan balance of 8.96 billion yuan with a growth rate of 14.19 percent. The bank used its monetary policy tools to support the resumption of work and production of small and micro enterprises and simultaneously reduced the financing costs of them.

In terms of financial support for small and medium-sized enterprises, the bank established a special service team of more than 100 staff members to establish the green channel for approving those enterprises.

A total of 661 million yuan of loans were issued to 23 small and medium-sized enterprises in 2021. The total amount of loans was expected to increase by 20 percent this year.

This year, the bank will gradually build its community banks, characteristic banks, digital banks, and boutique banks to achieve its own high-quality development.