Core Insights - The People's Bank of China established a service consumption and elderly care re-lending program in May, which has led to significant financial support for the elderly care industry in Shandong province [1][2] Group 1: Policy Implementation and Financial Support - As of the end of October, Shandong has issued a total of 36.42 billion yuan in service consumption and elderly care loans, with 7.78 billion yuan in re-lending applications [1] - The elderly care industry specifically received 6.18 billion yuan in loans, with 2.11 billion yuan in re-lending applications [1] - The Shandong branch of the People's Bank has collaborated with various departments to identify financing needs in the elderly care sector, resulting in partnerships with 94 enterprises and loan agreements totaling 10.59 billion yuan [1] Group 2: Financial Product Innovation - Financial institutions in Shandong are exploring solutions to address challenges in the elderly care sector, such as long cycles and lack of collateral, by extending loan terms and expanding the range of acceptable collateral [2] - The maximum loan term for elderly care loans has been extended to 30 years, and new specialized credit products have been created to include various forms of collateral [2] - The "Ludang Elderly Service Loan" has been introduced, leveraging a four-tier risk-sharing mechanism to support small and medium-sized elderly care entities, resulting in 28,200 loans totaling 14.852 billion yuan by the end of October [2]