CHINAEUROPE AFRICAASIA 中文双语Français
Business\Markets

Bank open to support start-ups in Beijing

Xinhua | Updated: 2017-07-17 09:42

BEIJING — A bank went into operation Sunday in Beijing's Zhongguancun area, which boasts active entrepreneurial activities, to support start-ups and innovation.

The Zhongguancun Bank, which gained approval from China's banking regulator in December 2016, is co-sponsored by 11 listed companies in this area. It has a registered capital of 4 billion yuan (about $590 million).

The lender mainly provides financial support to small and micro-sized scientific and technological firms. "Supporting science and technology is our most prominent feature," said Guo Hong, chairman of the bank, at its opening.

Every year, more than 20,000 tech companies are set up in Zhongguancun. More than 60 unicorn firms valued at over $1 billion emerged in this area in the past two years.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US