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As an important engine of China's economic growth, small and medium-sized enterprises have long been innovating and pioneering with the spirit of daring to fight and persevere. They have dreams and strengths, but they face a series of financing challenges in the process of development. At the recent 2024 United Nations Small and Medium Enterprises Day theme event, Liang Song, general manager of Du Xiaoman's credit business, introduced Du Xiaoman's series of measures to help small and micro enterprises grow.

The United Nations SME Day event was held to focus on the growth of SMEs

On June 27, 2024, the eighth UN SME Day, the UN SME Day event was held in Beijing, hosted by the United Nations Development Program (UNDP) and the China International Economic and Technical Exchange Center and co-organized by Du Xiaoman. The theme of the event was "Promoting a Sustainable Future: SMEs Leading Green Growth", and domestic and foreign financial experts, SME representatives, research institutions, and financial technology company representatives attended the event.

Bai Yating, UNDP Resident Representative in China

In her opening speech, UNDP Resident Representative in China, Yating Bai, said: "By empowering small and medium-sized enterprises and enabling them to flourish, we can not only promote the realization of the Sustainable Development Goals, but also build an economic system that is inclusive of all people and actively respond to the challenges brought by climate change, thereby ensuring a prosperous, harmonious and sustainable future."

Liang Song, General Manager of Du Xiaoman’s Credit Business

Liang Song, general manager of Du Xiaoman's credit business, said in his speech that financing difficulties, slow technology updates, market uncertainty and many other problems are the "growing pains" that almost every small and medium-sized enterprise must face. Du Xiaoman's artificial intelligence and big data technology can transform the high-quality credit of small and micro business owners into risk assessment results that financial institutions can identify and monitor, solving their financing problems to a certain extent, thereby promoting small and medium-sized enterprises to better achieve green growth.

Du Xiaoman provides financing support for small and micro businesses to promote the sustainable development of the green industrial chain

In March this year, the State Financial Supervision and Administration Bureau issued the "Notice on Doing a Good Job in Inclusive Credit in 2024", which clearly proposed to optimize the credit structure, support small and micro enterprises in technological innovation, specialization and green and low-carbon development, and strengthen credit supply guarantees for small and micro enterprises in key industrial chains, supply chains, upstream and downstream, foreign trade and other fields.

For a long time, Du Xiaoman has been committed to using technology to reduce the financing costs of small and micro enterprises. Du Xiaoman has served more than 22 million small and micro enterprises and individual industrial and commercial households, and the average annualized interest rate of small and micro user loans has been declining year by year for three consecutive years. At the same time, Du Xiaoman continues to support the development of green industries with innovative financial technology. In May 2019, Du Xiaoman launched the "Xiaoman Support Plan" public welfare interest-free loan project to help farmers. Through corporate interest subsidies, it accurately provides interest-free loans to people in rural areas with funding needs. It has provided financing support for many green projects of small and micro enterprises.

At the end of 2021, the United Nations Development Program and Du Xiaoman signed a cooperation agreement to jointly promote the "Sustainable Development Finance to Promote Rural Revitalization Project". In the past few years, the project has established "Sustainable Development Innovation Service Centers" in pilot areas such as Gutian County, Fujian, Xixiang County, Shaanxi, Youyang County, Chongqing, and Rushan City, Shandong, providing effective support for financing of small and micro enterprises in rural areas through digital industrial service platforms. The project has also innovated the "digital + green + finance" service model to promote the sustainable development of the green industrial chain, strengthen green financial product innovation and process reengineering, improve service capabilities and service efficiency, and invest more financial resources in green industries.

In terms of supporting the green development of small and micro enterprises, Du Xiaoman continues to explore new ideas for financial services, optimize the service experience of small and micro enterprises, and continue to "transfuse blood and produce oxygen" for small and micro enterprises. In the future, Du Xiaoman will accelerate the pace of financial technology innovation, focus on the many difficulties faced by small and micro enterprises during their development, and help small and micro enterprises innovate and develop.

Source: Morning News

(Source: Financial Information)

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