A comprehensive micro financial service platform with focus on providing financing support for small and micro businesses in Beijing goes online on September 24, 2019. The online financial platform developed and tailored by the Beijing Financial Holdings Group (BFHG) shows the capital's efforts to boost real economy development through financial services, optimize the business environment, and promote high-quality private sector development.

The platform gives greater support for small and private businesses while asking for more support from banks and other financial institutions through innovative tools.

Private enterprises play a vital role in China's economic development, and it requires equal and fair competition to give full play of their potential. To solve financing difficulties faced by China's small and micro-sized enterprises, BFHG established a Beijing comprehensive micro financial service company to build a service platform for small and micro-sized enterprises with the support of the Beijing Municipal Commission of Economy and Information Technology and the Beijing Municipal Bureau of Finance.

By bringing financial resources such as banks, funds, VC, insurance, guarantees, factoring and asset management together to create a synergistic effect, the platform is expected to offer  multi-level financial services and create an open, effective and win-win ecosystem, providing assistance in loans, investment, insurance, government subsidies and other financial support to relieve the financing difficulties of small and micro enterprises.

By utilizing big data and through multidimensional data integration and analysis, the new platform can carry out holographic portraits and risk assessment of small and micro enterprises to expand the coverage and efficiency of inclusive finance.

The platform also uses big data to identify and record any dishonest behavior of enterprises, and gives priority to recommending small and micro enterprises with good credit to financial institutions, so as to create a fair and transparent credit system.

The official launch of Beijing comprehensive micro financial service platform displays that BFHG has been stepping up efforts to improve financing efficiency for the real economy, with targeted measures to expand financing channels and reduce financing costs for small and micro firms.