Guiyang capital pool supports industrial development

"It is the support provided by the Guiyang industrial development capital pool that allows our company to obtain working capital," said Long Zongshu, deputy general manager of Guizhou Feilongyu Industrial Group Co.

At the end of 2021, Guizhou Feilongyu Industrial Group Co, which is mainly engaged in the production and sale of drinking water, had tight working capital due to the need to expand production. Although the headquarters of the enterprise is based in Guiyang, capital of Southwest China's Guizhou province, some of its production bases are in other cities in the province. Banks in other cities did not accept collateral in Guiyang.

At the time, Guiyang Industry Financing Guarantee Co, a subsidiary of State-owned Guiyang Industrial Development Holding Group, provided Feilongyu with 20 million yuan ($2.74 million) in support. The Guiyang industrial development capital pool also provided 5 million yuan in financial support to Feilongyu.

In Guiyang, many leaders of enterprises feel the same way – the Guiyang industrial development capital pool has been helping enterprises develop healthily and sustainably.

The Guiyang industrial development capital pool, with an overall scale of 3 billion yuan, was established at the end of 2021 in Guiyang and is managed by Guiyang Industry Financing Guarantee Co. The capital pool mainly solves capital turnover problems encountered in the development process of enterprises and projects in the key areas of new industrialization in the city through loan transfers, commissions and guarantees.

According to Guiyang Industry Financing Guarantee Co, from 2021 to July 31 this year, the capital pool supported 177 enterprises, loaning out over 5 billion yuan. The supported industries mainly involved advanced equipment manufacturing, electronic information, and medicine.