In order to thoroughly implement the decision-making and deployment of the Party Central Committee and the State Council on coordinating the promotion of the prevention and control of the new coronary pneumonia epidemic situation and economic and social development, implement the “Government Work Report” on strengthening the financial support requirements for enterprises and improving the “directness” of financial policies “With the consent of the State Council, on June 1, 2020, the People’s Bank of China, together with the China Banking and Insurance Regulatory Commission, the Ministry of Finance, the Development and Reform Commission, and the Ministry of Industry and Information Technology, issued the Notice (hereinafter referred to as “Deferred Repayment Notice”) and “Notice on Increasing the Strength of Credit Loan Support for Micro-sized Enterprises” (hereinafter referred to as “Credit Loan Support Notice”).
The “Deferred Debt Service Payment Notice” requires that for the Pratt & Whitney loan principal due before the end of 2020, the Micro-loans pay interest, and banking financial institutions should, based on enterprise applications, grant deferred principal and interest payment arrangements for a certain period of time, up to March 31, 2021, and are exempt from penalty interest. For other small and medium-sized enterprise loans due to the end of 2020 and loans for enterprises with special difficulties, such as large-scale international industrial chain enterprises (foreign trade enterprises), the enterprises and the banking financial institutions may negotiate and postpone principal and interest repayment.
The “Deferred Repayment Notice” emphasizes that for financial inclusion of micro- and micro-finance loans, banking financial institutions should postpone the extension. At the same time, in order to fully mobilize the enthusiasm of the local corporate bank, the People’s Bank of China and the Ministry of Finance will give it 1% of the principal of the inclusive small and micro loan as an incentive. The state-owned financial capital management department should fully consider the impact of the phased deferred principal and interest repayment policy when evaluating the operating performance of the state-owned and participating banking financial institutions in 2020, and make reasonable adjustments and evaluations. Banking financial institutions should adhere to substantive risk judgment, and should not downgrade the loan risk classification due to the epidemic situation, or affect the corporate credit history.
The “Credit Loan Support Notice” makes it clear that From June 1, 2020, the People ’s Bank of China will use a special loan quota of RMB 400 billion through innovative monetary policy tools , Purchase qualified local bank of people from March 1 to December 31, 2020, newly issued 40% of Pratt & Whitney small and micro credit loans, in order to promote the credit loans of large and small enterprises, and support more small and micro enterprises to obtain Credit loan support without mortgage guarantee . The “Credit Loan Support Notice” emphasizes that all banking financial institutions should pay attention to reviewing the first source of repayment, reduce their dependence on mortgage guarantees, enrich the credit loan product system, and ensure that the proportion of inclusive small and micro credit loans will increase significantly in 2020. Local financial institutions that have received support should formulate growth targets for inclusive small and micro credit loans.Dividends benefit small and micro enterprises and lower the interest rate for credit loans.
By implementing the above policies, it will help banking financial institutions increase small and micro enterprise credit loans and non-renewable loans, stabilize the financing cash flow of small and micro enterprises, and increase The availability of micro-enterprise loans further reduces the comprehensive financing costs of small and micro enterprises.