Bank of China supports start-ups, SMEs in Hengqin to diversify Macau-area economy

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BOC has supported start-ups and SMEs in Hengqin as part of the country’s effort to diversify Macau’s economy, a senior executive said.

BOC, one of China’s Big Four state-owned banks, came to Hengqin in 2010 and is now the biggest lender in the zone, with five outlets.“BOC has been supporting the development of Hengqin by offering loans for the many infrastructure projects, start-ups, medical companies and SMEs,” said Liu Xianghong, the president of BOC Hengqin’s cooperation zone branch.

The zone is jointly run by the leaders of Guangdong province and Macau and offers low taxes and other incentives to attract companies from Macau and Hong Kong to set up shop there.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongChinaMacau

Topics: Hengqin Part Effort Zone Diversify Start-ups Supported Macau Macau’s Smes Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-18 @ 11:30:08 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 197 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22573202

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