OREANDA-NEWS. January 25, 2013. In response to Beijing municipal government's growth strategy of "two-wheel driven": IT innovation and cultural innovation, ICBC Beijing Branch beefs up its innovation on financial services to high-tech firms. In June 2012, the Branch launched "High-Tech Link" loans designed for small and micro high-tech enterprises. ICBC Beijing Branch has disbursed over RMB100 million in loans to a hundred eligible "High-Tech Link" borrowers. The loans provide strong support to small and micro high-tech firms in Beijing represented by Zhongguancun Science Park, reported the press-centre of ICBC. 

"High-Tech Link" loans are targeted at high-tech firms in Beijing. Borrowers can apply for a loan up to RMB 5 million for a year. Application is easy as long as 5 conditions are met: 3 years of operation; over RMB 10 million in taxes paid in previous year; certified as high-tech firm, valid orders on hand and actual controller of the company provides joint-liability guarantee. The key criteria are the core technology and growth prospect of the borrowers who are not required to supply collateral to secure the loans. Traditionally, it is very difficult for small and micro high-tech firms to access loans because of the lack of collateral. Hence, "High-Tech Link" loans have eased the financing pressure on smaller high-tech firms considerably. In addition, eligible borrowers can also apply for loan interest subsidy from government; therefore, the loans are mostly received by the small and micro high-tech firms once launched.

In serving the high-tech firms, ICBC Beijing Branch also joins force with management committees of different parks in Zhongguancun, Zhongguancun High-Tech Enterprises Association Beijing, Beijing Zhongguancun Enterprises Credit Promotion Association. Seminars, research studies, surveys and visits, collective loans are some of the ways to promote "High-Tech Link" loans to smaller high-tech firms in the Zhongguancun Science Park.

Serving micro-and-small enterprises (MSEs) to support their growth has remained a clear focus of ICBC Beijing Branch. Huge efforts have been spent in setting up special centers, business workflow upgrade and loan product innovation. Over RMB 100 million "High-Tech Link" loans in just six months demonstrated the determination and responsibility of the Branch in supporting MSEs, also a commitment of ICBC Beijing to support Zhongguancun Science Park.