On the afternoon of March 12, 2019, State Information Center (SIC) and Industrial and Commercial Bank of China (ICBC) signed an inclusive financial big data strategic cooperation agreement in Beijing. According to the agreement, both sides will play their respective advantages and carry out in-depth cooperation in risk management, index research, data sharing, and credit information construction to solve the financing difficulties and financing cost problems of SMEs (small and medium-sized enterprises), and provide decision-making support for relevant ministries.

At the same time, SIC and ICBC will take the lead in launching a pilot project on financing innovation for SMEs based on big data in Chongqing Liangjiang New Area. At the signing ceremony, State Information Center signed a four-party cooperation agreement with the Industrial and Commercial Bank of China Chongqing Branch, Chongqing Liangjiang New Area Administrative Committee and Business Big Data(BBD) company to carry out in-depth cooperation in jointly integrating national and local core data resources, building a small and medium-sized microfinance service big data platform in Liangjiang area and building a risk-sharing multiple mechanism to solve the difficulties and blocking points of financing problems for SMEs.

Luo Wen, Vice Chairman of the National Development and Reform Commission, Gu Shu, President of the Industrial and Commercial Bank of China, Duan Chenggang, member of Chongqing Municipal Standing Committee, Party Secretary of Chongqing Liangjiang New Area, Director-General of the Administrative Committee of Liangjiang New Area, Cheng Xiaobo, President of the State Information Center, and Zeng Tu, Chairman of the BBD company attended the signing ceremony and saw the signing. Zhou Min, Vice President of the SIC, signed the contract with the other parties on behalf of the State Information Center.  

As one of the main sponsors of the strategic cooperation, SIC will take advantage of data resources to make a top-level design of innovation pilots, to provide data support to partners under the premise of legal compliance, and to integrate government and enterprise data resources effectively. Focusing on the social credit of SMEs, SIC will guide relevant parties to carry out technical support for development and construction of the platform, explore a new path to use new technologies such as big data to solve the bottleneck problem of SMEs financing, and promote the economic transformation from the traditional to the new driving forces so as to achieve high quality development.