Torch Development Zone has set up special credit financing support funds for enterprise relief and development. The program consists of 100 million yuan (50 million yuan for the first phase, which will be scaled up based on business operations) used as small and medium enterprise (SME) growth credit risk compensation funds and special credit financing subsidy funds of no more than 40 million yuan per year. The funds will be used for SME growth loans and subsidizing enterprise credit financing that meets the requirements.

The risk compensation funds are targeted to support the enterprises which have been included in the directory of enterprises with growth loans in Torch Development Zone. Enterprises shall meet the following inclusion conditions: being in line with the official industrial development direction of Torch Development Zone; having been registered in Torch Development Zone for at least 2 years; recording an operating income ranging from 10 million yuan to 400 million yuan (excluding real estate enterprises, state-owned enterprises, and state holding enterprises) in the previous year, etc.

Based on the size of enterprises, Torch Development Zone will provide credit enhancement loans of different amounts, while the loan for a single enterprise shall be no more than 30 million yuan. Other key enterprises supported by Torch Development Zone will be included in the scope of growth loan business after approval.

The credit financing subsidies are targeted to support the enterprises that have obtained growth loans, science and technology loans, guaranteed loans, and other credits in the scope of cooperation in Torch Development Zone. Real estate enterprises, state-owned enterprises, and state holding enterprises are exempt from the qualified enterprises.

If growth loan enterprises settle the principal and interest of loans without overdue payment, discount interest and guarantee fee subsidies will be provided. The discount interest will be no more than 40% of the actual interest, and the maximum discount interest for each enterprise will not exceed 800,000 yuan per year. The subsidies will not exceed 50% of the actual guarantee fee, and the maximum guarantee fee subsidy for each enterprise shall not exceed 200,000 yuan per year.

Qualified enterprises are also eligible to apply for municipal credit programs.

These measures shall come into effect from the date of promulgation and remain valid until December 31, 2024.