North China's Shanxi province has actively promoted the implementation of the National Small and Micro Enterprise Capital Flow Credit Information Sharing Platform since its launch in late October last year.

The province has guided 17 pilot financial institutions to expand "capital flow" credit channels, supporting direct lending to economic entities. Preliminary statistics show that Shanxi has issued over 1,000 loans through this platform, with total financing exceeding 5.5 billion yuan ($750.26 million).

The platform effectively addresses the challenges of cross-bank sharing of capital flow credit information among financial institutions. Establishing a systematic and institutionalized mechanism for sharing capital flow credit information promotes information sharing while fully protecting the rights and interests of micro, small, and medium-sized enterprises.

For instance, a trading company in Taiyuan had established long-term partnerships with several high-quality enterprises in the province's transportation, construction, and engineering sectors. Due to business needs, the company applied for a loan from Huaxia Bank's Taiyuan branch. However, the company's numerous associated enterprises and frequent, dispersed capital transactions slowed the credit approval process.

After the platform's launch, Huaxia Bank's Taiyuan branch utilized the platform's data to cross-verify the customer's financial statements and tax returns. This enabled the Taiyuan branch to quickly generate a capital flow statement and a capital destination analysis report for the applicant. As a result, the bank granted the company a credit line of 4.18 million yuan, addressing its financing needs and effectively alleviating financial pressure.