China Minsheng Banking targets high-tech SMEs

China Minsheng Banking Corp Ltd launched its comprehensive financing strategy for high-tech small and medium enterprises on Tuesday, for betting on their growth potential.

The plan has been regarded as one of the key strategies for the whole bank, according to Zhang Hua,general manager of the capital market division of the investment banking department of Minsheng Banking Corp.

The comprehensive financing package for high-tech SMEs includes the individual credit for shareholders, project financing and mezzanine financing, Zhang said.

The new plan, according to Zhang, is also in line with the country's strategy to encourage innovative high-tech companies. The bank will focus on financing for SMEs with new business models and core technologies in the industries of healthcare, new energy, TMT and new materials.

The bank has had the pilot program of the new financing strategy in its Beijing, Shanghai and Shenzhen branch and will expanded to Hangzhou, Guangzhou, Nanjing and Chengdu branch in the coming months.