Guizhou supports financing of small, medium-sized companies

Southwest China's Guizhou province recently celebrated the one-year anniversary of the launch of its online finance services platform of public resource trading for small and medium-sized enterprises, or SMEs.

Since the platform debuted, it has served more than 20,000 various business entities, issued 336 million yuan ($52.75 million) in bank credit and provided more than 70 million yuan of loans to small and medium-sized companies.

The platform shares and collects data of trading platforms, finance institutions and government contract tendering companies, so that companies can apply for various loans for winning bids, government procurements, medicine procurements and migrant workers' salaries online.

To date, the platform has covered the public resources trading centers in nine cities and prefectures, two sub-centers and 20 powerful finance institutions of top repute.