Guangdong introduces sixteen financial measures to empower traditional industries and enhance their optimization and improvement.

Sina Finance reported on March 30th that in order to help traditional industries transition from "scale advantage" to "quality advantage", the Guangdong Financial Supervision Bureau recently officially issued the "Notice on Financial Support for the Optimization and Enhancement of Guangdong's Traditional Industries", introducing sixteen special financial support measures. By establishing a "4+4+4" working mechanism, traditional industries are empowered to transform, injecting financial vitality into the high-quality development of traditional industries. It is understood that the optimization and enhancement of traditional industries has generated new financial demands, while the traditional credit mode relying on balance sheets and collateral guarantees has been difficult to adapt to the characteristics of transformation enterprises with low assets, fast iteration, and high growth. In response to this issue, Guangdong's "Sixteen Articles" of financial support for traditional industries make multiple breakthroughs: optimizing directions are clearly defined from four aspects including credit management, risk control systems, talent development, and incentive mechanisms, breaking through the bottleneck of financial service mechanisms; around research and development innovation, manufacturing production, brand building, and market sales, the adaptability of financial products is improved; relying on the four major supporting mechanisms of "financing + intelligence", "financial + fiscal", "headquarters + branches", and "industry standards + examples", the joint support pattern of government, financial institutions, industry associations, and other parties is formed, consolidating a supportive framework.