The 2024 Financial Street Forum Annual Conference is set to take place in Beijing’s Financial Street from October 18 to 20, bringing together discussions on financial openness and collaborative efforts for stable economic development. As a key player among state-owned banks, Bank of Communications is actively participating in various activities during the forum. Notably, it will host a parallel session titled “Resilience of Global Industrial and Supply Chains and Financial Empowerment,” aimed at fostering collaborative partnerships and exploring shared development opportunities.
In light of the ongoing technological revolution and significant shifts in global industry and supply chains, the role of finance in empowering the service sector becomes paramount. The pressing question is: how can financial institutions effectively support the stability of international industrial and supply chains? As a vital financial force in China’s new “dual circulation” economic model, Bank of Communications will lead discussions on October 20 at the Financial Street Forum’s parallel session. Government officials, researchers, financial experts, and business leaders will gather to explore innovative practices that enhance high-quality manufacturing development and support international collaboration.
A key highlight of this session will be the signing of a strategic cooperation agreement between Bank of Communications and the Torch High Technology Industry Development Center under the Ministry of Industry and Information Technology. They will unveil the Torch-Jiao Yin Innovation Lab and launch the “Jiao Yin Torch Loan,” an online financial product tailored for tech-oriented small and micro enterprises in Beijing. This innovative loan product moves beyond traditional credit models by incorporating revenue, tax contributions, orders, investments, research and development efforts, as well as government subsidies into its assessment criteria. It features high credit limits, rapid approval processes, and no collateral requirements, effectively addressing the financing challenges faced by growing tech enterprises.
Furthermore, during the Annual Conference, Bank of Communications will engage in various activities, sharing insights on themes such as “Financial Empowerment Driving High-Quality Development,” “Innovation-Driven Financial Transformation,” and “Enhancing Financial Services for the Real Economy.” The bank aims to contribute to a visionary discourse on fostering a new era of industrialization focused on high-quality growth.
