Industrial Bank has recently signed a cooperation agreement with the Fujian Finance Department and Taiwan Affairs Office to offer loans to Taiwan small and mid-sized enterprises (SMEs) in the province.

The bank will list qualified enterprises who will be charged 0.5 to 2 percent interest on lines of credit, together with the 30 million yuan ($4.7 million) covered by Fujian, to ensure enough capital. In the next two years, the bank plans to provide up to 3 billion yuan in loans to SMEs, with a single company getting no more than 10 million yuan.

Starting July 1, eligible enterprises can apply to local Taiwan affairs offices and Industrial Bank branches to be included in the program.

Industrial Bank’s headquarters is located in the city of Fuzhou, Fujian. It is a national bank and one of the first joint-stock commercial banks authorized by the State Council and the People’s Bank of China.

Edited by Lin Hong and Michael Thai