Financing company's development leveraged in Binhai CBD Area

Tianjin Binhai CBD Area, one of three core parts of the Tianjin Pilot Free Trade Zone, is optimizing its business environment and facilitating financing of SMEs, especially for work resumption after the virus outbreak.

CSCC, a financing platform based in Beijing that started operation in the zone four years ago, is innovating its businesses with the support of the local government to provide money to small and medium companies.

On the CSCC cloud platform, it takes only one hour for an enterprise to apply to a bank for financing. The system directly connects to a bank to realize online lending in seconds, which enables small and micro enterprises to quickly resume work and production.

At present, the cloud chain is cooperating with 50 banks. As of the end of July, a total of 100 billion yuan($14.59 billion) had reached nearly 1,000 key SMEs through the financing platform.

"In recent years, the company has developed very fast, and the business scale has basically doubled every year. Single financing transactions of less than 1 million yuan accounted for more than 80 percent of the total, indicating we are realizing our goal to benefit the SMEs," Bai Yushi, general manager of CSCC Tianjin said on Aug 25.

Explaining the robust development of the company in the costal free trade pilot zone, Bai spoke highly of governmental service and the favorable polices that have attracted talents to the area. The local government also introduced policies such as rent reductions and exemptions to mitigate the huge impact of the epidemic outbreak.

With the arrival of the post-epidemic era, the business area will unleash leading technologies such as 5G and the IoT to innovate financial services in a bid to better serve industrial development.