Pudong New Area in Shanghai recently opened a financial service base specifically for local small- and medium-sized tech enterprises.

Located in Zhangjiang, the base will provide and interpret the latest FinTech policies, offer fundraising service, and bring in a branch of Bank of Shanghai, accounting firms, law firms and a professional incubator to satisfy the needs of the tech firms.

Measures to help tech firms raise funds will also be taken, including building an online industrial capital matchmaking platform, organizing matchmaking activities for investors and tech projects, and encouraging banks to develop credit-based financial products.

The base is a result of Pudong's goal of integrating technological and financial resources to promote the industrialization of technological achievements, explained Ding Jun, an official at Pudong Financial Service Bureau.

In addition to the base, many other financial service institutions for tech firms have landed in Zhangjiang. One of which is the Pudong Technology Financial Service Federation whose members include banks and firms in the fields of venture capital, private equity, securities, small loans, incubator management, accounting and law.

The federation serves as a bridge between tech firms and financial institutions, and has organized hundreds of matchmaking activities while serving 14,500 companies.

More institutions in the same vein will be brought in to provide better financial services to local tech firms, according to Pudong officials.

Pudong New Area in Shanghai recently opened a financial service base specifically for local small- and medium-sized tech enterprises. [Photo/Pudong Times]