Recently, the Postal Savings Bank of China (PSBC) Beijing Branch inaugurated its first comprehensive service subbranch in the science-tech innovation area of the China (Beijing) Pilot Free Trade Zone (hereinafter referred to as Beijing FTZ).

Beijing FTZ, covering 119.68 square kilometers, consists of three areas of science-tech innovation, international commerce services and high-end industries. Among them, the science-tech innovation area focuses on developing such industries as new-generation information technology, biology and health science, and scientific and technical service, to create a pilot zone of digital economy, a global venture capital center, and a demonstration zone for institutional reforms regarding science and technology, thereby gathering a cluster of leading companies in new-generation information technology, biopharmaceuticals, integrated circuits, and other emerging strategic industries

The PSBC subbranch in the science-tech innovation area of Beijing FTZ is adjacent to the Zhongguancun No.1 Science Park, with an obvious agglomeration effect of industrial chains. It will give full play to PSBC’s outlets, resources and collaborative advantages, and provide diversified and customized financial services for technology-based small and medium-sized enterprises, high-tech enterprises and enterprises that use special and sophisticated technologies to produce novel and unique products from a more professional perspective and with more precise positioning and higher quality services.

PSBC Beijing Branch has continuously increased its efforts in financial service innovation, exploring business, product and service innovation to support the real economy. Up to now, Beijing Branch has cumulatively granted over 160 billion yuan (about 22.4 billion US dollars) in loans to small and micro enterprises, totally serving over 27,000 clients, 1,482 of whom are enterprises that use special and sophisticated technologies to produce novel and unique products, generating a loan balance of 9.127 billion yuan (about 1.28 billion US dollars). The Zhongguancun subbranch featuring sci-tech innovation has granted a total of 1.937 billion yuan (about 0.27 billion US dollars) in loans to small enterprises.