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FTZ in SIP sees remarkable achievements in financial opening-up and innovation

Date:2021-02-18 10:36|Source: |Visits:

China (Jiangsu) Pilot Free Trade Zone Suzhou Area, a free trade zone established in SIP in 2019, has seen remarkable achievements in financial opening-up and innovation.

An innovative risk compensation mechanism based on a capital pool established by SIP authorities is being implemented in the FTZ to share risks with financial institutions in offering financial support to small- and medium-sized enterprises (SMEs).

Additionally, SIP e-Financing, an online financial service market where financial service organizations and financial professionals offer financial products and advice to SIP-based businesses, has given many enterprises help in financial affairs. It is learnt that over 850 enterprises have acquired loans totaling RMB 8.9 billion through the platform.