In March 2009, the State Council officially approved the construction of the "Zhongguancun National Innovation Demonstration Zone", requiring building Zhongguancun into a scientific and technological innovation center with global influence.Zhongguancun will thus become China's largest and most competitive scientific and technological park and a key strategic place integrated with the strategies of national innovation, rejuvenating the country through science and education as well as the talent strategy.
In order to resolve the financing difficulties of the small and medium enterprises (SMEs) in the science and technology sector, Bank of China takes the Zhongguancun as the pilot place and adheres to the principle of practice as the forerunner to conduct sufficient research and demonstrations. While combining the traditional credit mode and the advantages of the “BOC Credit Factary” mode, Bank of China designs and launches the exclusive mode for the Zhongguancun National Innovation Demonstration Zone - the Zhongguancun Science and Technology SME Financial Service Mode (hereinafter referred to as the "Zhongguancun mode").By fully taking into account the law of development and features of those enterprises and recognizing their core technologies and the property of capital of the patent rights, the "Zhongguancun mode" solves the systematic problems of product, efficiency and organization that existed in the former financial service mode of SMEs, makes comprehensive adjustment in terms of the customer targeting, marketing mode, product innovation, expert consulting service, review and approval mechanism and risk management, provides product series that cover the early stage, rapid growth stage and stable development stage of the enterprises, and mainly focuses on the provision of the "Tou Bao Dai" and the intellectual property pledge loan.
The "Zhongguancun mode" is an integrated innovation and comprehensive solution that fundamentally solves the financing difficulties of the SMEs in the science and technology sector by adhering to the concept of "Hi-tech, large platform; small enterprise, large market", focusing on customers and market demand and with a view to the innovation service mode. The new mode mainly has innovations in six aspects: first, it establishes Bank of China Zhongguancun product system covering all the development stages of the SMEs in the science and technology sector; second, according to the government's policies, Bank of China mainly introduces the “Tou Bao Dai” service and the intellectual property pledge loan to revitalize specific assets of the enterprises; third, Bank of China has a clear definition of the SMEs in the Zhongguancun park to help the park become bigger and stronger; fourth, Bank of China simplifies the review and approval procedure to improve efficiency; fifth, Bank of China establishes an expert database and invites science and technology advisors to introduce the unique views of experts; sixth, it sets up a separate non-performing asset control mechanism for the mode.
The launching ceremony for the Zhongguancun Mode was held on December 3. Xiao Gang, Chairman of Bank of China, Li Lihui, President of Bank of China, Chen Siqing, Vice President of the bank, Guo Jinlong, Mayor of Beijing, Zhao Fengtong, member of the Standing Committee of Beijing Municipal Party Committee, and Li Xiaohong, Vice Chairman of Beijing CPPCC attended the ceremony.The launching of "Zhongguancun mode" marks the achievement made by Bank of China in supporting the development of SMEs in the science and technology sector and a leap forward in resolving their financing difficulties.The "Zhongguancun mode" is a new breakthrough based on the traditional commercial banking by organically combining science and technology and finance. It has down the pioneering work in the field where the commercial banks offer services to the SMEs in the science and technology sector.After breaking the conceptual bonds and emancipating the mind, Bank of China recognizes that the SMEs in the science and technology sector have their proprietary or core technologies and property of capital of proprietary brands as well as values, which all can be taken as the collaterals. This is in compliance with the characteristics of the SMEs and can effectively make those having advanced technologies bigger and stronger and share their growth results with others.
Bank of China introduces the "Zhongguancun mode", which not only meets the requirements of the national innovation strategies but is also an inevitable choice for commercial banks to change the development mode, promote innovative development, optimize credit structure, expand service area and nurture new profit growth points. It is also a concrete measure to implement the scientific outlook on development and a contribution to the "Twelfth Five-Year" Plan. With mode innovation, Bank of China grasps the opportunity to further strengthen the cooperation with Beijing Municipal Government and Zhongguancun Administrative Committee, attract a large number of quality SMEs in the science and technology sector and lay a good foundation to further develop the SME customers. During the three months when Bank of China's Beijing branch launched the "Zhongguancun mode", the branch drafted the first target customers list of 500 enterprises, offered credit support to 48 SMEs in the science and technology sector in Zhongguancun, with a loan balance of RMB 600 million.
During the inspection made by officials including Liu Qi, Secretary of the Beijing Municipal Committee of the Communist Party of China and Guo Jinlong, Mayor of Beijing, at the Zhongguancun Scientific and Technological Innovation and Industrialization Promotion Center on January 24, 2011, Secretary Liu Qi recognized the active participation of Bank of China and pointed out that Bank of China set a good example for other banks in assisting the development of Zhongguancun. Mayor Guo Jinlong expressed high praises to the "Zhongguancun mode" that supports the development of Zhongguancun enterprises.
The "Zhongguancun mode" is a favorable exploration of SME financial service in the science and technology sector, embodying Bank of China's devotion to fundamentally improving the SME financial services, determination in innovating the "differentiation" service mode and the professional competency in providing high-efficiency and all-round financial services for SMEs. The "Zhongguancun mode" broke out the traditional service mode. With continuous conclusion, adjustment and improvement, the mode will be further enriched and developed in practice.With the guidance of national innovation strategies, domestic hi-tech parks and enterprises emerge one after another with vitality, and the financial market serving the hi-tech enterprises will be broader and broader.
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