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Cixi seeks new funding mechanisms for micro, small-sized firms

Details: Category: Ningbo District; Published: Monday, 04 June 2012 10:12

Over the past week, dozens of companies in Cixi Shangjianshan Village Industrial Park were busy furnishing their workshops, updating equipments, and making preparations for production in their new plants.

An official in charge of the industrial park said they reached an agreement with Ningbo Branch of China's Industrial Bank (CIB). Under the agreement, the bank granted a loan of 80 million yuan for 45 companies in the industrial park, or an average of nearly 200 million for each company. The fund enables the micro and small-sized firms to build new workshops and purchase new equipments.

According to Wu Zhenhao, deputy party chief of Shangjianshan Village, bearing production is their pillar industry and there are hundreds of bearing manufacturers,most of which are small and micro enterprises. To boost industrial development and create industry clustering, the construction of Shangjianshan Village Industrial Park, covering 116 acres (7.7 hectares), officially stared in 2009.

Xie Zhirong, director of the Financial Service Office in Cixi, asserted the cooperation between banks and enterprises. He said: "We hailed those banks who serve the development of real economy, and we plan to reward the banks who make notable contribution to real economy." The local government encourages the financial institutions to extend their support to local economic development and urges them to increase the proportion of the investment on practical projects, small and medium-sized enterprises and issues of agriculture, farmer and rural area from 20 percent in 2010 to 40 percent this year.

Sources said that with the cut of the bank reserve requirement ratio and the contraction of private sector investment, banks are holding enough reserves. The favorable government policies eased the burden of cash-trapped micro and small sized companies facing to some degree. However, it is still difficult for these firms in securing bank loans or guarantees. More efforts from the financial institutions are needed to change the situation.

Fitness facilities in Ninghai

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Category: Ningbo District

Published: Monday, 04 June 2012 10:10

Today, to experience the pleasure of a "slow life" has become a choice of many people. On holidays and festivals, the over 500-km national mountain climbing paths, with over 130 bike renting services, attracted hundreds of thousands of visitors.

"With our abundant resources of mountains, seas, waters, islands and springs, we shall turn the whole county into a large scenic area and park, to attract more tourists. We shall have tourist enjoy the pleasure of a slowed down life in Ninghai," said Chu Yinliang, Magistrate of Ninghai County.

In 2009, Ninghai County built a 100-km national mountain climbing path, the first one in the country. Early this year, the county put in over 10 million yuan and completed the construction of the 500-km national mountain climbing paths which extend to the whole of Ninghai County, linking all the resources, scenic spots, farmers' inns and other recreational places. The mountain climbing paths set off upsurges of physical fitness in Ninghai and attract hundreds of thousands of backpackers home and abroad to Ninghai.

To connect all the mountain climbing paths, in 2011, Ninghai County put in over 70 million yuan and started the construction of a system of bike renting services. So far, it has completed the construction of 130 bike renting services, with over 1,000 bikes available for rent. "In near future, the county will open about 300 bike renting services, so as to make all the scenic spots and farmers' inns accessible bikers," said Zhang Huafei, Director of Ninghai Sports Development Center.