The Zhongguancun company opened a branch in the zone, which should have a significant impact on Zhongguancun in serving innovation and entrepreneurship, promoting coordinated development of Beijing-Tianjin-Hebei, and deepening integration of resources. It will also provide new solutions to the financing difficulties of SMEs.

The inauguration ceremony of Tianjin Zhongguancun Sci-tech Financing Guaranty is held in Binhai High-tech Zone, Tianjin [Photo provided to chinadaily.com.cn]

Duan Hongwei, board chairman of the Tianjin subsidiary, mentioned that Zhongguancun Science and Technology Guaranty has always been committed to financing guarantee services for SMEs and modern service companies.

Since its establishment 18 years ago, over 37,000 guarantee projects have been secured. The amount guaranteed exceeds 240 billion yuan and guaranteed funds have increased nearly 300 fold. This has effectively alleviated financing difficulties of SMEs and played a key role in serving technological innovation.

Zhongguancun Sci-tech Financing Guaranty is known as an "innovative business incubator", a "high-tech industrial park without walls", a "firewall of cooperative financial institutions" and a "multiplier of public credit resources". It has promoted the construction of the credit system and built an ecological environment conducive to innovation and entrepreneurship.

Apart from that, the guaranty company also developed a unique "123 Zhongguancun model", which has been affirmed by the State Council. "One" in the model refers to focusing on serving science and technology SMEs; a differentiated risk control system and continuous innovation of service products are the "two basic points", and the "three mechanisms" are market-oriented self-determination, talent incentive and restraint stimulation, and providing comprehensive financial services.

As the Tianjin branch has been opened, the company will take serving Tianjin SMEs as its responsibility, establish a linkage mechanism of "guarantee, loan and investment", and solve financing difficulties of SMEs in a novel manner.

Li Wei, deputy general manager of Zhongguancun Development Group, stressed that the establishment of Tianjin Zhongguancun Sci-tech Financing Guaranty is an important channel for Zhongguancun to implement the policy of national innovation-driven development. It also enables Zhongguancun Development Group to allocate innovative resources through marketized tools.

Cao Liqun, deputy director of the Zhongguancun Management Committee, said that Zhongguancun possesses unique talents and scientific research capacity, as well as education and other resources, allowing it to integrate innovation and entrepreneurship.

Zhongguancun and Binhai New Area have their own characteristics; thus they have broad prospects in synergizing and complementing each other’s resources. In the future, they will continue to work hard and build a platform for the coordinated development of Beijing-Tianjin-Hebei.

Setting up Tianjin Zhongguancun Sci-tech Financing Guaranty is expected to add impetus to science and technology financial services in Beijing and Tianjin by offering more efficient and convenient financial services for cross-regional development of enterprises.