BOC to speed up program to finance startup firms

Bank says investment and loan linkage mechanism is crucial to industrial innovation

The Bank of China Ltd has pledged to accelerate the development of its key investment and loan linkage mechanism - by working with the administrative committees of five national innovation zones to build up its client base and risk compensation and information-sharing systems.

The fourth biggest commercial lender by assets in China said it signed strategic cooperation agreements with the committees on Friday and also inked accords on offering financing services through the investment and loan linkage mechanism to 12 technology and innovative companies.