On November 22, the Zhejiang Provincial Government signed a cooperation agreement with China Construction Bank Corporation. Over the next three years, CCB will provide an additional 60 billion yuan in credit funds to support the development of small and medium-sized enterprises in Zhejiang.

Zhejiang’s economy is currently facing pressures, but the provincial government has adopted a number of proactive and effective measures to address them. We believe that through a series of initiatives such as “safeguarding stability and promoting adjustment,” and by continuously accelerating economic transformation and upgrading, Zhejiang’s small and medium-sized enterprises will be able to overcome their current difficulties.

Provincial leaders emphasized that small and medium-sized enterprises (SMEs) in Zhejiang are the backbone of Zhejiang’s economy, representing its most dynamic sector and embodying its unique characteristics and strengths. Although some enterprises are currently facing difficulties, their fundamental strengths remain unchanged, and their vitality has not been affected. Zhejiang’s enterprises are confident about their future development and are known for their integrity and trustworthiness. The government and financial institutions will continue to provide unwavering support, striking the right balance between “addition” and “subtraction”—ensuring that their legitimate needs, especially urgent financing requirements, are met. They will do their utmost to secure production factors, including financial resources, while also taking measures to minimize the burdens on enterprises as much as possible. He pointed out that the 60 billion yuan in credit funds represents not only a quantitative commitment but also a concept of innovation and mutual benefit. This cooperation between the two sides will serve as a powerful boost to Zhejiang’s local economy, while enabling banks to achieve more efficient and higher-quality development as well.