Zhejiang Ruishen Auto Parts Co., Ltd., a key enterprise in the auto parts industry of Ruian City, Wenzhou, has recently received a bank loan. Jia Tingrong, the person in charge, stated that the funds will primarily be used to support the company’s R&D investment, production line upgrades, and market expansion, helping to break through development bottlenecks.
For many years, Zhejiang Ruishen Auto Parts Co., Ltd. has been dedicated to the research and development, production, and sales of auto parts, with its products enjoying popularity in both domestic and international markets. As the enterprise scale has expanded, the shortage of funds has become a bottleneck restricting further development. Upon learning of the enterprise’s predicament, the Wenzhou Branch of the Postal Savings Bank of China promptly organized a professional credit team to conduct in-depth research, tailored a financial service plan, and ultimately provided a credit support of 30 million yuan.
In Ruian, the auto parts industry is the “pillar” of the local economy. Currently, there are over 6,000 auto and motorcycle parts enterprises, with their products exported to more than 150 countries and regions worldwide. It is one of the industrial bases in China with the most comprehensive categories, the largest scale, and the most complete industrial chain of auto parts.
It is reported that the auto parts industry in Ruian is currently accelerating its entry into the fast lane of transformation and upgrading, as well as intelligent manufacturing. With intelligence, networking, and integration as the directions, and with high-level platforms, a production value of over 100 billion yuan, and the formation of enterprises as the focus, the industry is promoting transformation and upgrading.
Relying on inclusive finance, the local area is further promoting the integrated development of industrial finance and inclusive finance, providing “blood transfusion and oxygen supply” for auto parts enterprises. By optimizing service processes and broadening financing channels, the Wenzhou Branch of the Postal Savings Bank of China has provided strong financial support for more auto parts enterprises, driven the coordinated development of the industrial chain, and injected impetus into the local economy.
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