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Nanjing launches 1st China-Europe express train of Year of Snake

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      China

      China

      Nanjing launches 1st China-Europe express train of Year of Snake

      2025-01-30 19:38 Last Updated At:20:07

      Nanjing City in east China's Jiangsu Province launched the first China-Europe Railway Express train for the 2025 Chinese New Year on Wednesday morning. On the first day of the Year of the Snake, a freight train loaded with 110 containers of textiles, auto parts and electronic machinery departed from the Nanjing Logistics Center. It is expected to reach its destination – Moscow, Russia – in 18 days.

      Later in the day, the first train heading to central Asia from Nanjing also left the logistics center, transporting goods including refrigerators and washing machines to Kazakhstan's Almaty.

      A total of nine express freight trains to Europe and other parts of Asia are set to depart from Nanjing during the Chinese New Year holiday, which will last until February 4.

      The Chinese New Year, or the Spring Festival, is the biggest annual holiday for the Chinese people.

      Nanjing launches 1st China-Europe express train of Year of Snake

      Nanjing launches 1st China-Europe express train of Year of Snake

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      China's financial institutions create business incubators for sci-tech startups

      2025-02-23 01:35 Last Updated At:02:27

      Financial institutions in China's Shanghai and Tianjin are building incubators for the development of sci-tech startups.

      In Shanghai, more than 40 sci-tech startups have settled in the Zhangjiang Incubator of the Pudong Development Bank Innovation Center, covering multiple fields such as integrated circuits, biomedicine, and artificial intelligence.

      The Zhangjiang Incubator not only provides offices, account settlement and policy declaration for the startups, but also helps them secure loans, negotiate business deals, and find investments.

      A company in the field of artificial blood vessels received a credit loan from the bank even without any income. Because it moved into the incubator, the bank knew its startup team, research progress, and growth very well.

      "The bank granted us a credit loan, and it was because of this credit loan that we completed the construction of our factory, which also helped us secure a new round of financing of 30 million yuan (about 4.14 million U.S. dollars). With the factory and this financing, we were able to enter the phases of clinical trials," said Dai Weimin, chairman of Sunna Technologies (Shanghai) Company.

      In north China's Tianjin Municipality, the Tiankai Higher Education Innovation Park was established, where enterprises in the park can benefit from joint support from technology, industry to finance. Financial institutions have set up branches in the park to provide comprehensive services for startups.

      "We do not meet the typical conditions for bank loans. Because we are in a special incubator environment of the Tiankai Higher Education Innovation Park and have an investment-loan linkage product from the Agricultural Bank of China, we are able to secure our first loan to overcome significant difficulties," said He Jianjun, general manager of Tianrun Hanyang Technology (Tianjin) Company.

      "Over 90 percent of the companies in the innovation park are early-stage private enterprises. We have launched several financial products tailored to the companies in the Tiankai Higher Education Innovation Park based on their characteristics. Meanwhile, we actively assist these enterprises in facilitating investment and financing connections and strengthen cooperation with small and medium-sized guarantee companies to address the medium- to long-term large financing needs of these businesses," said Han Le, deputy manager of the Tianjin Nankai Sub-branch of the Agricultural Bank of China.

      China's financial institutions create business incubators for sci-tech startups

      China's financial institutions create business incubators for sci-tech startups

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