Beijing will recognize enterprises' credit ratings in neighboring Tianjin Municipality and Hebei Province in a drive to integrate and coordinate development of the three regions, an official said Saturday.
"The recognition is expected to help enterprises get more financial support," said Huo Xuewen, Party chief of the Beijing Municipal Bureau of Financial Work.
The bureau will support financial institutions to provide cross-regional services, according to him. It will also back the establishment of a fund to coordinate the development of Beijing, Tianjin and Hebei and the issuance of special construction bonds.
Beijing will recognize enterprises' credit ratings in neighboring Tianjin Municipality and Hebei Province in a drive to integrate and coordinate development of the three regions, an official said Saturday.
