Zhongshan Federation of Industry and Commerce days before signed a strategic cooperation agreement with Industrial and Commercial Bank of China (ICBC) Zhongshan Branch. According to the agreement, ICBC Zhongshan commits to providing no less than 80bn yuan of financial capital to local private enterprises to support their better development.

The agreement also mentions Zhongshan private enterprises can be financed in terms of bond-issuing, project loan, medium- and long-term loan, and etc.

Mai Dongsheng, responsible person of Zhongshan Yueshanquan Mineral Water Co Ltd, says the agreement will offer financial support to private enterprises in purchasing and constructing plants, office buildings, machinery equipment and other fixed assets and help enterprises expand business premises, improve capacity and efficiency, and realize innovation, transformation and upgrade. The 3-year liquidity loan, 5-year equipment supply loan and 10-year project loan will alleviate enterprises’ refinancing pressure and make them more focused on developing their main business.