Following the coordinated guidance from the provincial government, relevant provincial authorities have been working diligently in recent days to formulate and issue a series of policies, opinions, and measures aimed at encouraging financial institutions within the province to fully utilize their credit quotas, further reduce corporate borrowing costs, and accelerate the alignment between banks and government agencies as well as between banks and enterprises.
　　These measures primarily focus on increasing credit allocation and formulating incentive policies to encourage financial institutions within the province to fully, effectively, and flexibly utilize their existing credit quotas. This will ensure that this year’s growth rate of small-business loans and agricultural loans will not fall below the average annual growth rate of all loans, with an aim to achieve new loan additions of approximately 430 billion yuan for the entire year. Specifically, branches of nationwide banks will continue to strive for preferential credit policies from their head offices; the Provincial Rural Credit Cooperative Union will further enhance its coordination and adjustment of credit plans among rural cooperative financial institutions across the province; and local corporate financial institutions will step up efforts to mobilize deposits and ensure that loans are disbursed according to plan. For those institutions facing planning gaps due to their support for “agriculture, rural areas, and farmers” and small businesses, such gaps will be addressed promptly, and they will be encouraged to increase credit allocations to small and medium-sized enterprises as well as to agriculture, rural areas, and farmers.

　　Reduce credit costs.
　　 Thoroughly clean up all loan-related fee items and immediately rectify any illegal fee practices—whether direct or disguised—that impose undue burdens on enterprises. Implement the loan interest rate fluctuation policy in a rational manner, taking into account both enterprises’ financial affordability and banks’ funding costs. Where reductions are permissible, reduce rates as much as possible; where no increases are justified, avoid raising rates altogether, and genuinely pass on the benefits to enterprises.
　　Accelerate the alignment of credit between financial institutions and government departments and enterprises.
　　 We will establish a platform for matching bank-enterprise projects. Under the guidance and promotion of the government, we will swiftly facilitate connections between financial institutions and key investment projects identified by local authorities. We will focus on supporting the construction of the “Three Trillion-Yuan” projects, as well as energy infrastructure projects such as power and natural gas facilities and major transportation infrastructure projects. We will also boost the development of equipment manufacturing, high-tech industries, and port-related industries. In particular, we will prioritize supporting the expansion of domestic demand and further implement credit financing. At the same time, we will actively encourage both domestic and foreign investment institutions to make high-quality equity investments in Zhejiang. We will build a platform that connects funds with enterprises, giving priority to equity investments in growing, technology-driven companies and those poised for their initial public offerings (IPOs), thereby further optimizing corporate debt structures.
　　Increase the issuance of various types of bonds and broaden financing channels.
　　 Seizing the opportunity presented by the launch of credit asset securitization for small and medium-sized enterprises (SMEs) across the province and the issuance of short-term financing notes for SMEs, we will actively pursue innovative SME financing products. We will continue to expand the issuance volume of short-term financing notes and proactively recommend eligible enterprises to issue such notes. Following the launch of medium-term notes, we will actively recommend provincial enterprises to issue medium-term notes to the higher-level banks, thereby freeing up credit funds to support SMEs. By establishing a property rights trading platform, we will support pilot programs for corporate bonds. Additionally, we will set up venture capital funds and risk investment funds to meet the diversified funding needs of different types of enterprises.
　　 In addition, the relevant provincial authorities will fully leverage the roles of the two existing risk compensation mechanisms—namely, the SME loan program and the agricultural loan program—to encourage and guide financial institutions to step up their support for small and medium-sized enterprises and the “agriculture, rural areas, and farmers” sector. At the same time, they will actively explore the establishment of guarantee mechanisms at the county and city levels, thereby perfecting a multi-tiered and diversified guarantee system and opening up easier access to financing for SMEs.