A financial service base has been launched in Zhongshan, a traditional manufacturing city in the Pearl River Delta, to help industrial upgrading, according to the local authority.
The base is expected to provide as much as 20 billion yuan ($3.14 billion) in financing to innovative businesses by 2018, and help develop 50 listed companies.
The base, located in the East District of Zhongshan, is one of the first centers focusing on providing financial services in Guangdong province, to speed up local industrial transformation.
A group of 30 financial organizations and up to 20 innovative businesses has initially confirmed moving to the center, according to the local authority.
Lin Jiang, vice director of the Hong Kong, Macao and Pearl River Delta Research Center under the Sun Yat-sen University, said on Tuesday launching the financial base would help build an efficient channel for local manufacturers to upgrade their business by financing.
"Zhongshan is known for its traditional industries such as lighting, furniture and garments. The traditional businesses need to be upgraded by being given more financial service," said Lin.
qiuquanlin@chinadaily.com.cn
A Frenchman in a coastal Chinese city has combined his zeal for work with passion for life, writes Raymond Zhou.
One of the potentially most traumatic things a girl has to go through is finding a new hairdresser.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
