On the morning of September 5, the 9th China Cultural and Financial Innovation Conference was held at Beijing Longfu Cultural Center. During the conference, ZGC Sci-tech Financing Guarantee launched financial products of “Jinchuangbao” and “Jinyuanbao” on behalf of relevant cooperative institutions, and Beijing Guohua Wenke Financing Guarantee released also its product named of “Jinpianbao”.

Those three financial products are jointly rolled out by Beijing Cultural and Creative Industry Promotion Center, ZGC Sci-tech Financing Guarantee, Beijing Guohua Wenke Financing Guarantee, Bank of Jiangsu Beijing Branch, and Beijing Fengtai District Development Investment co., Ltd., an investment fund.

“Jinchuangbao” is designed to support 1,000 cultural and creative enterprises with the most potential, including the top 100 companies of Beijing Cultural and Creative Competition.  “Jinyuanboa” is mainly targeted at 100 municipal and district-level cultural industrial parks, while “Jingpianboa’ focuses on 100 outstanding film and television enterprises.

These three cultural financial products are committed to building the linkage between loan, investment and guarantee. The philosophy is to “give loans at the sight of relevant guarantee, offer loans and investments at the same time”.  In terms of loan, the biggest feature is credit guarantee, that is, the bank provides cultural and creative firms with loans without requiring physical mortgages, characterized by low interest rates, low threshold, short approval time, simple procedures and etc. Bank of Jiangsu has signed contracts on the spot to provide￥10 bn of credit line for those products.