Since this year, the financial and related departments have resolutely implemented the decision-making and deployment of the Party Central Committee and the State Council, acted swiftly, and acted proactively, while maintaining reasonable and sufficient liquidity in the financial market, focusing on mitigating the impact of the new coronary pneumonia epidemic on the operation of small and medium-sized enterprises , Issued a series of measures to provide accurate financial services for epidemic prevention and control, resumption of production and real economy development. In order to further promote financial support policies to better meet the needs of market players, recently, the People ’s Bank of China, together with the China Banking and Insurance Regulatory Commission, the Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, the General Administration of Market Supervision, the China Securities Regulatory Commission, and the Foreign Exchange Bureau issued the Guiding Opinions on Micro-enterprise Financial Services “(Yinfa [2020] No. 120, hereinafter referred to as” Opinions “).
The “Opinions” include the implementation of credit support policies for the resumption of production of small and medium-sized enterprises, the development of financial service capacity enhancement projects for small and medium-sized enterprises in commercial banks, and reform and improvement of the external policy environment and incentive constraints 30 policies and measures were put forward in seven aspects: mechanism, giving play to the multi-level capital market financing support role, strengthening the credit system construction of small and medium-sized enterprises, optimizing the local financing environment, and strengthening organizational implementation.
The “Opinions” require that financial institutions implement the credit support policies for the resumption of production of small and medium-sized enterprises, and carry out financial service capacity improvement projects for small and medium-sized enterprises. National banks should play a leading role, internal transfer pricing preferences should be no less than 50 basis points, five large state-owned commercial banks inclusive small and micro enterprises loans growth rate of more than 40%, development and policy banks should take 3500 A special credit line of 100 million yuan has been put in place to support the resumption of production of small, medium and micro enterprises with preferential interest rates. Commercial banks should increase the weight of Pratt & Whitney Finance in the comprehensive performance evaluation of branch branches to more than 10%, and greatly increase the credit loans, first loans, and non-renewable loans of small and micro enterprises. Insurance institutions are encouraged to give full play to the role of insurance protection and provide highly targeted loan guarantee insurance products.
The “Opinions” pointed out that it is necessary to reform and improve the external policy environment and incentive and restraint mechanism of banking financial institutions. Comprehensively use a variety of monetary policy tools to strengthen the countercyclical adjustment and structural adjustment functions of monetary policy, and guide financial institutions to increase credit support for small, medium and micro enterprises. Establish and improve the financial service supervision and evaluation of small and micro enterprises in commercial banks, management measures for financial enterprise performance evaluation, government financing guarantee assessment, and strengthen the external assessment incentive mechanism. Actively play the role of credit enhancement of local government financing guarantee institutions, greatly expand the coverage of government financing guarantees and significantly reduce the fee rate. In 2020, the National Financing Guarantee Fund strives to add 400 billion yuan in new re-guarantee business, cooperate with banking financial institutions in batch guarantee loans, and increase the proportion of risk responsibility sharing in batch cooperation to 30%.
The “Opinions” make it clear that it is necessary to play a multi-level capital market financing support role. Guided the net financing of corporate credit bonds by 1 trillion yuan more than the previous year. Financial institutions issued 300 billion yuan of special financial bonds for small and micro enterprises, releasing more resources to support small and micro enterprise loans. Support eligible small and medium-sized enterprises for listing and financing, accelerate the reform of the Growth Enterprise Market and pilot the registration system. Optimize the new third board issuance financing system, guide and encourage venture capital enterprises and angel investment to focus on investing in small and medium-sized enterprises to create innovative enterprises.
Attachment: Guidance of the People’s Bank of China Banking and Insurance Regulatory Commission Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Finance, Market Supervision Administration, Securities Regulatory Commission, Foreign Exchange Bureau to further strengthen financial services for small, medium, and micro enterprises
Attachment: Guidance of the People’s Bank of China Banking and Insurance Regulatory Commission Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Finance, Market Supervision Administration, Securities Regulatory Commission, Foreign Exchange Bureau to further strengthen financial services for small, medium, and micro enterprises
Yinfa [2020] No. 120
Faced with the significant impact of the new coronary pneumonia epidemic on small, medium and micro enterprises, the financial and related departments have resolutely implemented the Party Central Committee 1. The State Council ’s decision-making and deployment, prompt action, and proactive actions have introduced a series of measures to support expansion of domestic demand, assist in resumption of production, and ensure employment, and provide accurate financial services for epidemic prevention and control, resumption of production, and real economic development. In order to promote the financial support policy to better meet the needs of market players, further unblock internal and external transmission mechanisms, and promote the apparent growth of financing scale of small and medium-sized enterprises (including individual industrial and commercial households and small and micro business owners, excluding local government financing platforms, the same below), The financing structure has been further optimized to achieve “incremental, price reduction, quality improvement, and area expansion”, to accelerate the return to normal production and living order, and to support the high-quality development of the real economy.
First, implement the credit support policy for small and medium-sized enterprises to resume work and resume production without any compromise
(1) Arrangement Good small and medium-sized enterprises loan deferred principal and interest payment. Improve the policy of postponing principal and interest repayment, and increase support for the deferred principal and interest repayment of Pratt & Whitney small and micro enterprises. Banking financial institutions should increase the implementation of policies and increase the proportion of beneficiary enterprises. For enterprises operating normally before the epidemic and having difficulty operating under the impact of the epidemic, the loan period should be extended. According to the actual situation of the enterprise, differentiated support such as repayment of instalments and interest shall be provided to the subsequent repayment date. Improve response efficiency, simplify handling procedures, and encourage online handling.
(2) Give full play to the leading role of national banks. National banks should make good use of the comprehensive standard reduction and targeted standard reduction policies to realize the “quantity increase and price reduction” of loans for small and medium-sized enterprises, issue detailed plans, and follow up and implement them on a monthly basis. The growth rate of inclusive small and micro enterprises in five large state-owned commercial banks is above 40%. National BanksJustify profits to ensure that the coverage of loans for small and medium-sized enterprises is significantly expanded and the cost of comprehensive financing is significantly reduced.
(3) Make good use of the refinancing policy. The branches of the People’s Bank of China should make good use of the re-loan and discount policy to guide financial institutions to focus on supporting small and medium-sized enterprises, as well as supporting poverty alleviation, spring cultivation, livestock farming, foreign trade, tourism and entertainment, accommodation and catering, transportation and other industries. Strengthen supervision and management to ensure that funds are disbursed in accordance with laws and regulations and prevent “running and leaking”. Small and medium-sized banks should make good use of re-loan and discounted funds, encourage small and medium-sized banks to increase their own financial support, promote the increase of small and medium-sized enterprise credit loans, and reduce financing costs.
(4) Implementing special credit lines for development and policy banks. Development and policy banks must implement the 350 billion yuan special credit line in place by the end of June 2020, support small and medium-sized enterprises to resume work and production at a preferential interest rate, formulate the bank’s special credit line implementation plan, and report the implementation status on a monthly basis.
(5) Increase support for insurance protection. Insurance institutions are encouraged to provide relevant targeted loan guarantee insurance products based on the specific situation of small and medium enterprises affected by the epidemic. Insurance companies are encouraged to distinguish the types of country-specific risks, further increase the coverage of export credit insurance, and increase the risk protection of small and medium-sized enterprises for export. During the epidemic prevention and control period, insurance companies are encouraged to explore innovative and effective claims settlement methods to ensure that insured customers receive timely and convenient claims settlement services.
Second, carry out the financial service capability improvement project of small and medium-sized enterprises of commercial banks
(6) Improve the political position , Change business philosophy. We must attach great importance to financial support for small and medium-sized enterprises and other real economies affected by the epidemic, and strengthen social responsibility. In accordance with the requirements of financial supply-side structural reforms, transfer operating focus and credit resources from preferring real estate and local government financing platforms to the real economy such as small, medium and micro enterprises to achieve incremental optimization of credit resources and reorganization of stocks .
(VII) Improve internal resource allocation and policy arrangements. Large and medium-sized commercial banks should implement the “five special” mechanism of the inclusive financial business department, and list special credit plans for small and micro enterprises, private enterprises, and manufacturing industries, and appropriately delegate authority for approval. Reform the cost-sharing and revenue-sharing mechanism of the small and micro credit business lines, and the national commercial banks’ internal transfer pricing preference should be no less than 50 basis points. Small and medium-sized banks can implement internal transfer pricing preferences or economic profit subsidies in accordance with their own reality.
(8) Improve internal performance evaluation. Commercial banks should increase the weight of Pratt & Whitney in the performance evaluation of branches and leadership, and increase Pratt & Whitney ’s weight in the comprehensive performance evaluation of branches to More than 10%. To reduce the weight of small and micro financial profit assessment and increase the weight of small and micro enterprise customer service assessment. Improve the internal recognition standards and procedures of loan due diligence. If there is no obvious evidence that the dereliction of duty is determined to be due diligence, gradually increase the small and micro credit The exemption ratio of employees has stimulated their enthusiasm for the development of small and micro credit business.
(9) Substantially increased small and micro enterprise credit loans, first loans and non-repayment loans. Commercial banks should optimize the risk assessment mechanism, pay attention to reviewing the first source of repayment, and reduce their reliance on mortgage guarantees. Under the premise of controllable risks, strive to achieve a significant increase in the proportion of new credit loans. Urge commercial banks to improve the first time from the banking system Number of households that have obtained loans. Allow eligible small and micro-enterprise renewal loans to be included in normal loans, encourage commercial banks to increase medium- and long-term loans, and strive to increase the proportion of small and micro-enterprise renewals in 2020 than last year.
(10) Use financial technology to empower small and micro enterprises financial services. Encourage commercial banks to use big data, cloud computing and other technologies to establish risk pricing and control models, and transform the credit approval process Dig deeper and integrate the bank’s internal small and micro-enterprise customer credit information, strengthen the integration with external credit information platforms such as credit reporting, taxation, market supervision, etc., improve customer identification and credit placement capabilities. Break through the “last mile” blocking point of corporate financing, and effectively Meet the financing needs of small, medium and micro enterprises.
Third, reform and improve the external policy environment and incentive and restraint mechanism
(ten A) Strengthen the functions of monetary policy counter-cyclical adjustment and structural adjustment. Implement a sound monetary policy, comprehensively use monetary policy tools such as open market operations, medium-term lending facilities, etc., to maintain a reasonable and sufficient liquidity in the banking system, and guide financial institutions to increase Credit support.
(12) Give play to the reform of the quoted interest rate in the loan market. The difference between the major bank loan interest rate and the loan market quoted interest rate is included in the macro-prudential assessment Closely monitor changes in loan spreads for small and medium-sized banks. Urge banking financial institutions to embed loan market quoted rates into internal pricing and transmission related links, and unblock banks’ internal interest rate transmission mechanism. In accordance with the principles of marketization and rule of law, orderly promote stock floating interest rate loans Pricing benchmark conversion.
(13) Optimize external incentives for regulatory policies. Promote revision of commercial banking lawMeeting
Foreign Exchange Bureau
May 26, 2020