Shanghai has introduced the "Suishenrong" mobile application to make financing as easy as online shopping for micro, small, and medium-sized enterprises.

Q1: What is the "Suishenrong" app?

MSMEs often face challenges such as difficulty in obtaining financing, high financing costs, and complex intermediary processes due to information asymmetry between enterprises and banks. To address these issues, Shanghai launched "Suishenrong" based on the Shanghai Financing Credit Service Platform.

The "Suishenrong" app consolidates a wide range of enterprise information, including social security records, judicial records, real estate, trademarks, and patents. Operating on a public welfare principle, it provides this data to banks and other financial institutions with the enterprises' authorization. This allows the enterprises to quickly access credit limit information and financing services directly and efficiently without the need for applications.

Currently, the Shanghai Financing Credit Service Platform includes 43 financial institutions, covering major commercial banks. Enterprises can register and log in to the app and platform free of charge to explore and apply for financing products.

Q2: What functions does the app have?

The "Suishenrong" app has four main functions: "Assessment", "Product Search", "Bank Search", and "Policies and Services".

• Through "Assessment", after authorizing their credit information, enterprises can conveniently obtain credit limit details for various financial products from banks such as the Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank. This function enables them to understand their credit standing and access financing services without submitting applications.
• If the pre-approved products do not meet their needs, enterprises can use "Product Search" to explore more financial products.
• Alternatively, they can use "Bank Search" to submit personalized financing needs, enabling financial institutions to proactively connect and provide services.
• "Policies and Services" includes an "offline consultation and assistance" service, offering information on more than 40 offline financing credit service spots in districts such as Huangpu, Jing'an, Jiading, and Fengxian, making it convenient for enterprises to seek advice nearby.

Q3: How can enterprises use "Suishenrong"?

Enterprise users can access "Suishenrong" through the Suishenban Enterprise Cloud application or the "Suishenrong" ("随申融") WeChat mini-program. They can utilize features such as conditional search and personalized requirement submission to efficiently match their financing needs. Additionally, they can visit the Shanghai Financing Credit Service Platform website to obtain relevant information.

Source: Shanghai Municipal Development and Reform Commission