Bank of China has broadened its financial support from established large corporations to include tech-based small and medium-sized enterprises (SMEs) at their startup and growth stages, according to an Economic Daily report. This move demonstrates BOC's concrete efforts to bolster self-reliance in advanced science and technology.

The significance of tech finance in supporting technological self-reliance has become increasingly prominent. Financial resources, once mainly directed toward established large enterprises, are now being directed to tech SMEs in their early and growth phases.

Reflecting on the collaboration with Shenzhen Dobot Robotics, a representative from BOC's Shenzhen Branch said, "Back then, I was at the sub-branch. Shenzhen Dobot Robotics, founded in 2015, was in its early startup stage. The team was mainly tech professionals who needed professional guidance in financial management and financing planning." Tech companies, especially those not yet profitable, are often difficult to assess with traditional financial metrics, and Dobot was no exception at that stage.

The representative explained that through long-term engagement, the bank recognized Dobot's technological strengths and product potential. With support from the head office and branch policies on credit for tech enterprises, the bank decided to move away from a conventional evaluation approach. Instead of focusing solely on financial statements, it began emphasizing the quality of the company's patents, product competitiveness, and market prospects.

2019 was a crucial period between two funding rounds, and BOC extended a 10 million yuan loan without requiring collateral, providing timely support for its R&D and production. As the company accelerated its growth, BOC continued exploring differentiated credit models for tech firms. Through its "BOC Science and Technology Loan Service" product, it steadily increased the credit line in line with Dobot's evolving capital needs for R&D and manufacturing.

Dobot's growth story is a prime example of how BOC can deliver high-quality financial services to support tech enterprises on their journey from inception to expansion. BOC will continue to innovate in tech finance, enhancing diversified and multi-stage financial support to contribute more to the advancement of technological self-reliance.

Source: Gou Mingyang, Yaojin, Economic Daily