In October 2019, Changzhou was successfully selected as one of the first batch of pilot cities in the country to support the comprehensive reform of financial services for private and small and micro enterprises. In 2022, Wujin District will be rated as a demonstration zone for the development of inclusive finance supported by the central government. In recent years, our city has strengthened the coordination and linkage of fiscal and financial policies to divert financial “flowing water” and develop the precision drip irrigation industry.
1. Optimizing government investment funds and promoting two-way empowerment of the capital industry
At present, the municipal government investment fund has a total of 46 mother-child funds, including Longcheng Science and Technology Fund, Industry Fund, and Angel Investment Guidance Fund, forming a full life cycle fund chain of “Angel-VC-PE-Pre-IPO” to provide enterprises with Comprehensive support for its development stage. The parent-child fund has invested in 213 projects in Changzhou, accounting for 62.46%, with a total investment of 6.271 billion yuan, accounting for 68.82%. Among them, 18 were attracting projects, 19 were awarded gazelles, 10 were potential unicorns, 4 were unicorns, 41 were specialized and special new projects (including 21 specialized and special new little giants), and 5 smart transformations 66 refinancing projects were completed, 11 were listed on the NEEQ (including 7 on the innovation layer), and 12 were listed or acquired, which strongly supported the upgrading of the city’s industries and promoted the construction of the Yangtze River Delta Industrial Technology Innovation Center.
2. Credit enhancement and empowerment of credit insurance funds to enhance the effective supply of financial resources
In order to build the core of the policy-based financing system for small, medium and micro enterprises, the Changzhou Small, Medium and Micro Enterprise Credit Guarantee Fund was integrated and established in 2017. According to the direction of industrial support, a “inclusive + special” sub-fund product system was built, and risks were shared through funds, banks, and guarantees , and guide banks and other financial institutions to increase credit loans without (weak) mortgages and guarantees to small, medium and micro enterprises. At present, the total size of credit insurance funds in our city exceeds 2 billion yuan, with more than 40 cooperative financial institutions and 16 products (including 4 provincial and municipal cooperative products). The loan amount reached 130.364 billion yuan, and the loan balance at the end of the period reached 18.983 billion yuan. The average interest rate was 4.10%, a decrease of 0.14 percentage points from the previous year, and the financing cost hit a new low.
3. Concentrate on the construction of Dragon City Golden Valley and accelerate the pace of listing of enterprises
In 2020, the Municipal Party Committee and the Municipal Government will make decisions and deployments to build Dragon City Golden Valley and expand and strengthen the fund industry, rewarding investment institutions and their executives, and subsidizing office space for field offices. In 2022, our city will reward nearly 200 million yuan for the Longcheng Golden Valley policy. As of the end of 2022, Longcheng Jingu has gathered a total of 919 institutions of various types, with a cumulative subscribed registered capital of 100.376 billion yuan. The effect of institutional agglomeration has initially appeared, and the fund industry has further grown.
Accelerate the development of the “Changzhou sector” of the capital market by continuously optimizing support policies for shareholding reform and listing, encouraging enterprises to speed up and standardize shareholding reform, encouraging enterprises to go public for financing and mergers and acquisitions, strengthening institutional recruitment and talent training, and guiding listed companies to become better and stronger. In the past five years, the municipal finance has cashed in a total of 240 million yuan in support funds, which has boosted the “acceleration” of companies going public. By the end of 2022, there will be a total of 90 listed companies in our city.
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