Chinese technology and finance group Dianrong is partnering with two finance industry bodies in Dalian, northeast China, to help develop the city’s fintech economy. As part of the deal, says Business Insider, Dianrong will build a blockchain-based supply chain finance platform to help small suppliers in the city with their cash flow management.

Dianrong, headed by entrepreneur Soul Htite, unveiled plans a year ago to build Chained Finance, a blockchain SCF platform with Foxconn subsidiary FnConn.

Dianrong’s deal with the Dalian Finance Industry Investment Group (DFIIG) includes a proposal to establish a dedicated investment fund for local financial companies focusing on “fintech projects and start-ups with the potential to strengthen Dalian’s new economy”, the company said.

The collaboration with Dalian Finance Development Bureau (DFDB) will see the creation of a cloud platform to allow small businesses, including small lenders, in the city to deploy fintech solutions more easily, as well as improving the ability of regulators to oversee lenders and detect fraud.