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.
