Daxing, Du Xiaoman vow to boost small, micro firms

Beijing's Daxing district signed an agreement with Du Xiaoman Financial, tech giant Baidu's fintech arm, on Sept 15 to provide better financial services for the district's small and micro enterprises.

The two parties will carry out in-depth cooperation related to inclusive financial services, digital fintech product development, and risk prevention and control.

It was announced that beneficiaries will be able to gain government financing guarantees and enjoy full-process online services with the help of of artificial intelligence, big data and other technologies.

District head Wang Youguo said Daxing has ushered in an important period of strategic development opportunities. He welcomed high-quality enterprises like Duxiaoman to participate in the district's development.

Zhu Guang, chief executive officer of Du Xiaoman, said he appreciates Daxing’s business environment, as it is advancing the construction of a leading science and technology innovation zone.

He said Du Xiaoman is committed to serving small and micro enterprises, and will take full advantage of its fintech expertise to offer customized services and create an innovative model based on the district's industrial characteristics and local enterprises' needs.

In recent years, the district has issued a series of favorable policies -- such as fiscally subsidized interest rates for initial loans -- to help start-ups refinance. One-on-one advisory services are also in place to ensure that more enterprises benefit from these policies.