On August 17, an opening ceremony was held by Ningbo Bank, at which Dongmen Branch of Ningbo Bank was renamed to Technology Branch of Ningbo Bank. It was a significant action taken by Ningbo Bank to respond to the state's call for technological innovation, facilitate innovation and entrepreneurship of technology-oriented enterprises in Ningbo and promote its own technology-based financial service capacity.

Transformation of Dongmen Branch into Technology Bank, which was ever the most time-honored, stably-operating and well-structured branches of Ningbo Bank in the province, will provide custom service for technology-oriented enterprises and fuel in-depth integration of technology and finance.

Following setup of the Technology Branch, dedicated products will be introduced to technology-oriented enterprise customers, and solve problems in financing due to shortage of physical assets suffered by technology-oriented SMEs, provide continuous financial support for the enterprises and facilitate their technological innovation, patented upgrade and product update.

The Technology Branch will aim to promote financial service for innovative enterprises and key technology-oriented enterprises, focusing on construction of new-type organizations featuring:

1) Support for active credit extension. Technology Branch will, based on technologies, policies, capital and markets, develop a white list of enterprises, actively contact enterprises qualified for credit extension, transforming from enterprise-seek-bank mode into bank-seek-enterprise mode, proactively providing financial service for technology-oriented enterprises.

2) Innovation of evaluation criteria. Technology Branch will not use corporate revenue and profit as the threshold for loan, but focus on enterprises core technology in credit evaluation, thus innovating enterprise evaluation criteria.

3) credit-based financing. Technology Branch will provide financing support for respect to technology-oriented enterprises featuring high-level technology but lack of assets by means of credit guarantee, and provide credit limit such as "White-Collar Worker Privilege" for management and technical workers in technology-oriented enterprises.

In future, Technology Branch will be committed to promoting in-depth integration and innovation of technology and finance, build technology-finance business innovation platform, resource sharing platform and technology-finance integration platform: on the business innovation platform, increasingly sound standard construction such as classification of technology-finance products, services, channels and customer bases, construct a professional technology-finance credit evaluation system, improve innovation in financial products and services in different stages of technology-oriented enterprises; on the resource sharing platform, gather external multi-dimension innovation resources such as policy information, high-end idea experts, industry innovation trend and topic-/project-specific researches, to build up a repository in Ningbo Bank for technology and finance; on technology-finance integration platform, rely on technology-finance service brands and platform influence, strengthen in-depth cooperation with industry-leading technology-oriented enterprises, aiming "innovative integration for customer mutually", promote technology-finance level of Ningbo Bank set up new eco-environment of technology-finance and facilitate development of technology innovation.