Huangpu rolls out host of measures to support SME development

Guangzhou's Huangpu district is on track to become an innovation demonstration zone where small and medium-sized enterprises (SME) can do big things with supportive financial services, industrial carriers and intellectual property right (IPR) protection well in place.

An industrial fund of more than 10 billion yuan ($1.53 billion) was established by Guangzhou Development District Investment Group, CICC Capital and Vision Plus Capital to support specialized, elaborative, characteristic, and innovative enterprises.

Huangpu will encourage eligible SMEs to issue new-type bonds and equity investment institutions to provide promising start-ups with angel investment.

In addition, Guangzhou Development District Investment Group plans to establish an industrial park for specialized, elaborative, characteristic, and innovative enterprises in Guangzhou Science City and China-Singapore Guangzhou Knowledge City.

China's first IPR insurance center was established by the People's Insurance Company of China (PICC) in Huangpu on Oct 27. The first deal for overseas IPR infringement insurance in the country was finalized in the district the same day with PICC Guangdong paying nearly 200,000 yuan to Comba Telecom Systems.