Baby Fund of National SMEs Development Fund Settled Down in Jiangsu

updated on: 2016-11-30  source:

  On September 28, the 1st National SMEs Development Fund Summit & Founding and Unveiling Ceremony of the Baby Fund of National SMEs Development Fund was held in Nanjing. Mr. Ma Qiulin, Vice Governor of Jiangsu Provincial People’s Government was present and made remarks on the summit.

  Mr. Ma noted, there have been 2.03 million small and medium-sized enterprises (SMEs) in Jiangsu Province as of the end of 2015. They generated over 60% of the GDP of the province, over 55% of the tax revenue and over 80% of the jobs in urban and rural areas. They are a major driving force for economic and social development and serve as an important carrier for crowd business and crowd innovation. The development environment needs to be improved and, in particular, the SMEs’ investing and financing difficulties need to be addressed to accelerate their development. We need to take the unveiling of the baby fund of the National SMEs Development Fund as an opportunity and make great efforts to nurture a group of newly-built and innovation-oriented SMEs with a strong awareness of innovation, excellent technological capability and good management.

  The 60-billion-yuan National SMEs Development Fund was set up in September 2015 by the State Council to promote the development of SMEs and resolve their difficulty in financing. The baby fund of National SMEs Development Fund, which was settled down in Jiangsu this time, is no less than 4.5 billion yuan in size, including 1.1 billion yuan from the National SMEs Development Fund, 675,000 million yuan from Jiangsu Provincial Government Investment Fund and 2.725 billion yuan from Addor Capital and funds raised in the society. Up to now, the 150,000-million-yuan equity investment in the first round has fallen on nine SMEs, including Dream Max Media, Dragon Pass, Action Sky, Rocky English and Nibiru.

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