Special refinancing for equipment upgrades supports the digital transformation of printing and dyeing companies
In the production workshop of Shantou Dintaifeng Industrial Co., Ltd. (hereinafter referred to as “Dintaifeng”), rows of dyeing machines and setting machines are working simultaneously with the rumbling sound of machinery. There is no production plan from the workshop director. Instructions are automatically processed and circulated in the intelligent management system, guiding the production of each work station.
As a high-tech enterprise in the Comprehensive Textile Printing and Dyeing Processing Center of Chaonan District, in response to the Shantou textile printing and dyeing industry’s “disposal of pollutants into the park” and the regulation of pollutant discharge, Din Tai Fung is also constantly promoting equipment upgrades and exploring the realization of traditional printing and dyeing processes. Digital production.
In order to speed up the pace of digital transformation, Din Tai Fung General Manager Huang Xizhong plans to invest in green technology printing and dyeing intelligent manufacturing technology transformation projects and update equipment to further enhance the company’s core competitiveness. However, funding is a practical issue that cannot be avoided in project advancement. “Equipment upgrading is a long-term investment with a large amount of investment and a long payback period, which is a big burden for enterprises.” Huang Xizhong said.
After understanding the situation, the Shantou Branch of the Postal Savings Bank of China introduced the special re-loan policy for equipment renewal and renovation to Mr. Huang. It comprehensively considered issues such as insufficient corporate collateral and long return cycles for equipment renewal and renovation, and tailored financing for the project. With this plan, the entire process from loan application to disbursement can be completed in just one week. “This funding came in a very timely manner and just filled the funding gap for our enterprise’s equipment renovation project. The cost of funding is also relatively low, which has greatly boosted our expansion of production and operations and accelerated greentransformation and upgrading. Confidence.” Huang Xizhong said.
At the end of September 2022, the People’s Bank of China set up a special re-loan for equipment renewal and transformation, specifically supporting financial institutions to upgrade and transform equipment in the manufacturing industry, social service fields, small and medium-sized enterprises, individual industrial and commercial households, etc. at an interest rate of no more than 3.2%. Provide loans.
The Guangzhou Branch of the People’s Bank of China has guided financial institutions within its jurisdiction to actively promote the signing of loans for equipment upgrading and renovation projects by optimizing the approval process and strengthening communication and coordination. As of February 20, 2023, financial institutions within the jurisdiction of Guangdong have signed 251 credit extensions with project entities in the list of equipment upgrade and transformation alternative projects, with an amount of 23.466 billion yuan. Among them, 201 loans with an amount of 10.873 billion yuan have been issued, respectively invested in education, health, industrial digital transformation, culture, tourism and sports.
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