Ordos launches three-year financial action plan

The city of Ordos in North China's Inner Mongolia autonomous region launched a financial action plan for the 2022-24 period to boost the matchmaking of financial resources and the real economy.

According to the plan, Ordos will strengthen financial support for 10 sectors involving environmental protection, carbon reduction, technological innovation and rural vitalization.

Over a three-year period, Ordos plans to achieve the following goals.

To stabilize the scale of financing, Ordos plans to add more than 15 billion yuan ($2.25 billion) in new loans each year for the next three years, and the loan-to-deposit ratio should be higher than each previous year.

The annual total issuance of debt financing instruments should be at least 4 billion yuan.

Ordos plans to realize more than 5 billion yuan in financing for listed enterprises in 2022 and more than 10 billion yuan in 2024.

In terms of credit support, the balance of manufacturing loans in Ordos should account for more than 18 percent of the balance of various loans in 2022 and 22 percent in 2024.

The city's balance of inclusive small and micro-sized loans should account for more than 7 percent of the city's total in 2022 and 10 percent in 2024.

Meanwhile, the balance of technology loans should exceed 400 million yuan in 2022 and reach 800 million yuan in 2024.

To promote loans, Ordos plans to increase the number of small and micro-sized enterprises applying for loans for the first time by more than 1,000 each year for the next three years, and maintain a loan amount of more than 10 billion yuan without repayment.

The city's State-owned financing guarantee companies' insured balance should exceed 800 million yuan in 2022 and reach 2 billion yuan in 2024.

The number of insured small and micro-sized enterprises should exceed 2,500 in 2022 and 6,000 in 2024.