Twelve enterprises, including Tianneng and Jiusheng Electric, are paired up with 12 banks in Huzhou, East China's Zhejiang province on June 17. [Photo/hz66.com]

Twelve enterprises, including Tianneng and Jiusheng Electric, have been paired up with 12 banks in Huzhou, East China's Zhejiang province on June 17.

The enterprises, which are primarily in sectors like new energy, medicine, and traditional textiles, will be provided with 4.02 billion yuan ($618.5 million) in credit by the banks.

In recent years, Huzhou has been actively optimizing its financing services for local enterprises.

Enterprises from the city are now able to apply for loans by scanning a QR code. The service launched by the Zhejiang provincial market supervision authorities and the Zhejiang branch of the People's Bank of China is designed to provide better financing services for small and micro-sized enterprises, as well as individually-owned businesses.

In the past two years, 36 banks located in Huzhou visited 8,924 enterprises in total, providing them with 35 billion yuan in loans.

The signing ceremony also witnessed eight banks, including the Huzhou branch of Industrial and Commercial Bank of China, being honored as the most satisfactory banks among private companies.