PUBLISHED MARKET GUIDE
How to Use Shanghai's New Financing Application: A Guide to Suishenrong
Learn how Shanghai's Suishenrong app simplifies access to financing for micro, small, and medium-sized enterprises.
Shanghai has introduced the Suishenrong mobile application to make financing as easy as online shopping for micro, small, and medium-sized enterprises.
Independently written English guidance based on cited public sources. Every public guide is human reviewed; it is not an official translation of the source publisher.
What is the Suishenrong app?
Shanghai launched Suishenrong based on the Shanghai Financing Credit Service Platform to address challenges such as difficulty in obtaining financing, high financing costs, and complex intermediary processes due to information asymmetry between enterprises and banks.
The app consolidates a wide range of enterprise information, including social security records, judicial records, real estate, trademarks, and patents. Operating on a public welfare principle, it provides this data to banks and other financial institutions with the enterprises' authorization.
Currently, the Shanghai Financing Credit Service Platform includes 43 financial institutions, covering major commercial banks. Enterprises can register and log in to the app and platform free of charge to explore and apply for financing products.
Key Functions of the Suishenrong App
The Suishenrong app has four main functions: Assessment, Product Search, Bank Search, and Policies and Services.
Through Assessment, after authorizing their credit information, enterprises can conveniently obtain credit limit details for various financial products from banks such as the Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank. This function enables them to understand their credit standing and access financing services without submitting applications.
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