Guiyang industrial development fund pool helps firms develop

Work related to the industrial development fund pool of Guiyang, capital of Southwest China's Guizhou province, is progressing smoothly, according to the Guiyang bureau of industry and information technology.

So far, the capital pool has lent a total of 264 million yuan ($41.58 million), effectively alleviating financing difficulties for 13 enterprises and promoting their high-quality development.

The fund, which was established in December 2021, revolves around system construction, plan formulation, training and presentation, and business promotion.

Relevant departments in Guiyang have visited 194 enterprises, of which 18 have been reserved with a capital demand of nearly 400 million yuan.

In terms of sub-fund pools, the industrial and trade development fund pool of Guiyang Free Trade Zone has been put into operation, and other fund pools in Yunyan district, Huaxi district and Xiuwen county are carrying out preliminary work, with a planned cooperation scale of 650 million yuan.

In 2022, 2.5 billion yuan will be issued through the fund, and the overall turnover rate is expected to reach 200 percent, providing financial support for more than 120 enterprises.