The Fair on S&T Financing and the Signing Ceremony of Bank Credit Contracts with Technology-based SMEs, sponsored by the Tianjin Municipal Science and Technology Commission (STC), was held on Oct. 24，2010 in Tianjin. STC signed agreements on supporting technology-based SMEs with the Pudong Development Bank, Bank of Dalian, Bank of Tianjin, China Everbright Bank, China Bohai Bank, China Merchants Bank, Industrial Bank, Bank of Beijing and People's Insurance Company of China (PICC). The banks promised to supply credits worth RMB 40 billion for the development of those SMEs in Tianjin.
Mayor of the Tianjin Municipality said during the event that Tianjin would boost the growth of technology-based SMEs through collaboration among enterprises, finance agencies, intermediaries, and the government in order to explore a mature mode for SME financing, establish a sound financial system for technological development, maximize the potential of quality projects, promote the socio-economic development of Tianjin, and enable the city to become a metropolis of technological accomplishments and innovation.
The event invited over 100 technology-based SMEs and over 50 representatives from the banking sectors. Meanwhile a contest on innovation finance was also held with the participation of 28 technology-based companies.