The third phase of the "Private Finance Street" in Guangzhou was completed on the morning of January 29. Since the launch of its first phase three years ago, the "Private Finance Street" has become a sizable complex of buildings occupied by businesses engaged in petty loans, re-loans, financial guarantees, pawning, Internet finance, e-commerce platforms, finance leasing, cultural industries, supportive services, and business services.
Statistics show that the "Street" currently hosts 152 financial institutions, with 50 brought in for the third phase of the project, including 11 Internet-focused ones. Last years, they provided funds of more than RMB100 billion for a total of 15,000 micro- and small-sized businesses, a fivefold increase over the previous year. They paid RMB 400 million in taxes, up 290%. The "Private Finance Street" has become a new engine of growth for Yuexiu District's economy.