Narrator: Wu Weiling, Deputy President, People’s Bank of China Lishui Branch
When you’re running a business away from home, the biggest fear is running out of cash flow.
Tao Xiaojun, a businessman from Lishui, in the province of Zhejiang, China, faced difficulties in 2024 when seeking funding to renovate and expand his supermarket in Ningbo. A loan of 500,000 yuan (approximately $71,747) from his hometown proved crucial in resolving his immediate financial needs.
Lishui, Zhejiang, is characterized by its mountainous terrain – 90% mountains, 5% water, and 5% farmland. This geography has historically driven many residents to establish businesses outside the region. Today, Lishui is recognized as a hub for supermarket entrepreneurship, with its natives operating more than 60,000 supermarkets nationwide.
Small and micro enterprises are vital to the market economy. However, supermarkets owned by individuals from Lishui often encounter challenges in securing financing. Limited collateral, due to high inventory turnover and leased premises, coupled with the costs associated with travel and information gaps in the lending process, can hinder loan approvals, even when banks are willing to provide credit.
To address this situation, a digital solution was implemented. Leveraging data provided by the Lishui Data Bureau, various data sources – including government services, merchant operations, and bank credit information – were integrated to create the Lijitong platform. This platform generates detailed profiles of Lishui merchants operating throughout the country.
Lijitong is not merely a loan information portal; it’s a data-driven financial services ecosystem. By prioritizing data security, the platform facilitates the collaborative contribution and sharing of financial information, overcoming geographical and temporal limitations.
This improved access to information allows banks to create more informed lending decisions, while merchants can access and utilize loans more efficiently, enabling targeted support for inclusive finance.
As of January 15, 2026, the Lijitong platform had assisted over 32,900 small and micro businesses from Lishui operating outside the region, extending a total of 7.95 billion yuan in credit.
Beyond loans, the initiative also provides free entrepreneurship insurance and interest subsidies. This comprehensive support system gives entrepreneurs from Lishui greater financial security when conducting business away from their hometown.
