Taihu Jingu Development Ltd, a subsidiary of the newly-launched Suzhou Jinhesheng Holdings Co Ltd, is a service agency for the National Equities Exchange and Quotations, or the New Third Board. [Photo/WeChat account: snd-szgxqfb]
Suzhou New District, a district in Suzhou, Jiangsu province recently launched the Suzhou Jinhesheng Holdings Co Ltd.
With a registered capital of 2.2 billion yuan ($319 million), Jinhesheng will focus on equity investment, non-bank financial businesses and multi-layer capital market services.
The new group integrated all the State-owned financial resources in the district, including the SND Ventures Group, SND Innovation Technology & Investment Management Co Ltd and Taihu Jingu Development Ltd.
It owned various non-bank financial platforms involving financing assurance, capital loan for technology development, commercial factoring, finance lease and assets management.
To date, the group has offered a total loan of 30 billion yuan to the district's small and medium enterprises to help them obtain further development.
Based on the Taihu Jingu Development Ltd, a National Equities Exchange and Quotations service agency, Jinhesheng has also assisted Suzhou New District in constructing the Suzhou Finance Town, which gathers roughly 500 financial institutions with a management capital of more than 80 billion yuan.
In the future, centering on the district's three strategic emerging industries, new-generation information technology, new energy, as well as medical device and biomedicine, Jinhesheng will create a financial service industry cluster highlighting fintech to better serve local economic development.
