Targeted loan policies help city's small businesses

Home to 800,000 market entities, most of which are micro, small and medium-sized enterprises, Taizhou city in Zhejiang province has carried out a series of reforms to promote growth.

Financing difficulties, which result from the information asymmetry between businesses and commercial lenders, are common obstacles that smaller enterprises face in the course of development.

To tackle such problems, Taizhou was the first place in the country to launch a credit information sharing platform for banks to evaluate the credibility of companies applying for loans in 2014.