Huang Zuoxing, chairman of Jiangnan Valve Co., talks with reporters at a press conference on Sept. 12.Suffering greatly from the private lending crisis which embattled Wenzhou’s small and medium-sized enterprises (SMEs) in the fall of last year, Jiangnan Valve Co. Ltd. was able to raise 50 million yuan, of a total target of 100 million yuan, from private investors in its first batch of issuing in a new private placement bond program. The 2-year bond carries an annual interest rate of 9.2 percent and is listed on the Shanghai Stock Exchange.  The bond program was one of the measures recommended by the State Council to the Wenzhou Financial Reform Pilot Area to broaden financial channels and alleviate pressure on SMEs.