In the first half of this year (H1), Changzhou's manufacturing sector experienced substantial financial support, with loan growth ranking second in Jiangsu province. The Changzhou Municipal Administration of Financial Regulation has been steering local banks to deepen their financial services, aligning with the city’s “1028” industrial development system—supported by 10 advanced manufacturing clusters and 28 key industry chains—and the development of emerging industry clusters of strategic significance. By the end of June, the city’s outstanding manufacturing loans reached RMB 398.95 billion, an increase of RMB 42.93 billion since the beginning of the year. This growth is the second-highest in the province, with a year-on-year increase leading Southern Jiangsu. Notably, Changzhou has achieved positive loan growth in manufacturing for 20 consecutive quarters.
Changzhou’s banking sector has concentrated on supporting advanced manufacturing clusters, channeling financial resources to foster industrial upgrades and bolster emerging industries. By the end of June, loans to the high-tech manufacturing sector totaled RMB 53.83 billion, reflecting a 7.7% increase, with an additional RMB 3.85 billion since the start of the year. Financing for major projects within the advanced manufacturing sector also surged, reaching RMB 41.69 billion, up by 12.99% or RMB 4.79 billion.
The local financial regulatory administration has also promoted an initiative to encourage banks to maximize financial subsidies for manufacturing loans and guarantees for equipment procurement and upgrades. This initiative has spurred the expansion of supply chain finance in the city, leading to Jiangsu’s first loan issued under the Loan Guarantee Program for the Purchase and Upgrade of Equipment by Small and Micro Enterprises in the Manufacturing Sector (referred to as the “Equipment Guarantee”). By the end of June, Changzhou had facilitated the development of 2,316 supply chains, involving 1,399 core enterprises across various industries, with a total loan balance of about RMB 53.54 billion. These efforts have benefited 8,050 small and micro enterprises within these supply chains, with a collective loan balance of approximately RMB 24.38 billion.
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