Chang Zhipeng

57589527@qq.com

ELIGIBLE Hong Kong-funded small and micro-sized enterprises in Qianhai can now access loans from overseas banks, with a cap of 5 million yuan (US$690,769), according to a document released recently by the Shenzhen branch of the State Administration of Foreign Exchange.

To be eligible, Hong Kong-funded enterprises must have been registered in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone for at least six months and maintain a clean record devoid of foreign exchange administrative penalties over the past two years.

The loan policy specifically excludes real estate firms and quasi-financial entities, such as financing guarantee companies, small loan companies, pawnshops, financial leasing companies, commercial factoring companies and local asset management companies.

One day after the policy’s release, three Hong Kong-based companies operating in Qianhai promptly secured a total of 12 million yuan in loans, becoming the first beneficiaries of the new initiative.

According to representatives of these enterprises, the implementation of the new policy has significantly streamlined the lending process for small and micro-sized Hong Kong-funded enterprises. Previously, these businesses encountered obstacles in securing overseas loans due to constraints related to their limited net assets.

Qianhai currently hosts over 11,000 overseas-funded enterprises, with a majority or around 85% of them originating from Hong Kong.