The Chinese Ministry of Science and Technology (MOST) and China Development Bank (CDB) have recently intensified their cooperation, in an attempt to facilitate fund raising efforts of small and medium-sized S&T enterprises. The efforts are made to explore new fund raising modes for these enterprises, enhance the support for their fund raising, and establish a credit system for them.
On April 2005, MOST and CDB jointly issued a circular to further promote fund raising activities for small and medium-sized S&T enterprises. The initiatives have received positive response of CDB?痵 local branches as well as from local S&T authorities. To implement the Circular, the Torch Center, part of the Ministry of Science and Technology, in collaboration with the Assets Restructuring Bureau affiliated to the China Development Bank, is preparing to hold a working seminar on fund raising activities for small and medium-sized S&T enterprises. The Center is also working on a guide for creating a loan platform for these enterprises.
Since June 2004, MOST and CDB have sown experimental seeds in Beijing, Shanghai, Xi?痑n, and Chongqing, in an extended effort to help small and medium-sized enterprises to obtain loans. Statistics show that during the period of January-June 2005, the China Development Bank has secured a loan amounting to RMB 420 million for small and medium-sized S&T enterprises in national high tech parks, and in four pilot cities, including Beijing, Shanghai, Chongqing, and Xi?痑n. The efforts have been made to support 15 national high tech parks in Beijing, Shanghai, Chongqing, Xi?痑n, Chengdu, Shenyang, Taiyuan, Baotou, Changchun, Daqing, Weihai, Yantai, Weifang, Luoyang, and Dalian.
On March 2005, the Torch Center made a survey to the DENGLING Program of the Zhongguancun High Tech Park, and the credit system of the existing fund raising platforms. Based on the survey results, the Center plans to run a pilot project in 2 to 3 qualified national high tech parks, in an attempt to promote the establishment of a credit system for small and medium-sized S&T enterprises, and play its key roles in securing loans for these enterprises.
To further cooperation, MOST and CDB have decided to hold a working seminar on fund raising for small and medium-sized S&T enterprises, so as to facilitate high tech parks to accommodate credit needs of these enterprises on an extended basis. |
