Hai'an is expanding its financial services to support technology-driven enterprises. In 2024, 86 enterprises in Hai'an secured loans through the Jiangsu Special Fund for Risk Compensation in Technology Commercialization, with new loans amounting to 381.85 million yuan ($52.76 million). Additionally, 89 enterprises obtained intellectual property pledge loans, adding nearly 1 billion yuan in new financing.

Among the beneficiaries is Nantong Meiming Nylon, whose general manager, Tian Yongsheng, expressed relief after securing a 10 million yuan loan. "This funding has helped us navigate the challenges posed by fluctuations in the international and domestic markets," he said. Compared to last year, the loan came with lower interest rates, a more streamlined approval process, and faster disbursement.

Specializing in nylon and polyester filament yarns, Meiming Nylon faced financial strain due to rising raw material costs and a shrinking international market. Upon learning about the company's difficulties, Hai'an Rural Commercial Bank promptly engaged with the business and tailored an optimal financing plan. Tian noted that the funds would be fully invested in developing a new antistatic nylon fabric.

Traditional credit models often require hard assets such as land and buildings as collateral, which do not align well with the intangible assets—such as patents and trademarks—owned by tech enterprises. Additionally, banks face challenges in assessing risks and returns, making it difficult to approve loans for such businesses. To address this, Hai'an has embraced financial innovation, integrating technology-focused enterprises into a structured growth system and offering customized financial solutions. 

Currently, 10 banks in Hai'an have established dedicated technology finance branches, while 19 banks have introduced specialized policies and incentive mechanisms for tech finance.