Hechi offers over $552m in finance guarantees

The city of Hechi had offered government finance guarantees totaling 3.56 billion yuan ($552 million) to a total of 407 enterprises by the end of May, according to Hechi Small and Micro Enterprises Financing Guarantee Company.

Hechi's finance guarantee business is primarily undertaken by the Hechi Small and Micro Enterprises Financing Guarantee Company. Since its establishment in May 2017, the company has been focusing on key industrial projects in the city and solving enterprises' financing difficulties. Its work has greatly promoted the healthy development of Hechi's real economy.

Centering on key industrial projects, the city has provided a total of 2.01 billion yuan of government guaranteed loans for industrial projects, 320 million yuan for agricultural projects, and 1.13 billion yuan for service projects.

In order to promote the development of the local nonferrous metal and cocoon silk industries, the company has provided 171 million yuan of guaranteed loans to nonferrous metal enterprises, and 460 million yuan to cocoon silk enterprises.

In addition, the company has provided a total of 79.8 million yuan of guaranteed loans for brewing enterprises, 271 million yuan for drinking water enterprises, 777 million yuan for forestry and agricultural product processing enterprises, 43.88 million yuan for electronic information enterprises, 73.5 million yuan for biomedical and chemical enterprises, and 200 million yuan for calcium carbonate enterprises.