China News Service, July 18, the China Banking Regulatory Commission issued a notice on the official website on the 18th, proposing to further increase credit support and insurance protection in disaster areas. The Banking and Insurance Regulatory Bureau of the disaster-stricken area shall guide the banking insurance institutions within their jurisdiction to base themselves on their functional positioning and business scope, and improve the credit support and insurance guarantee capabilities for the disaster-stricken area.

Data figure: Soaked water in private houses at the flood site. Photo by Liu Zhankun

  In recent years, continuous heavy rainfall in southern my country has caused natural disasters such as waterlogging, flooding, and mudslides. In order to strengthen the emergency response to flood and waterlogging geological disasters, support the disaster-stricken areas to do a good job of post-disaster reconstruction and recovery of production, and effectively protect the interests of the people, the China Insurance Regulatory Commission issued a notice on related matters, which mainly includes eight requirements, as follows:

——Conscientiously raise awareness of strengthening disaster prevention and reduction. Banking and Insurance Regulatory Bureaus in the disaster-stricken areas should attach great importance to the impact of the current flood and waterlogging geological disasters on economic and financial operations and people's production and life, and take practical measures to do a good job. First, the Banking and Insurance Regulatory Bureau in the severely affected areas should urge the bank insurance institutions within their jurisdiction to actively fulfill their responsibilities for disaster reduction, disaster prevention and relief, and initiate emergency plans for major disasters. The second is to carry out timely investigation of hidden safety hazards in important facilities such as business premises, self-service equipment, and computer room warehouses. The third is to guide insurance institutions within their jurisdiction to use various channels to do a good job of risk warning.

-Do everything possible to ensure the basic financial service needs of the disaster area. To ensure the stable operation of basic financial services and key infrastructure in accordance with the requirements of "guarantee door opening, security services, and security". First, the Banking and Insurance Regulatory Bureau of the disaster-stricken area should guide the banking insurance institutions in the jurisdiction to formulate business plans for business premises according to the impact of floods and geological disasters, reasonably arrange business outlets and business hours, and do a good job in the safe transfer of temporary business outlets and the restoration of business. . The second is to take the initiative to do a good job of informing, explaining, and guiding consumers to outlets temporarily unavailable due to disasters. The third is to strengthen communication with local government departments, enterprises and institutions, and timely grasp the financial needs of disaster-stricken enterprises and the masses in emergency withdrawal and insurance claims.

-Effectively improve the efficiency of financial services in disaster areas. The Banking and Insurance Regulatory Bureau of the disaster-stricken area shall guide the banking and insurance institutions within the jurisdiction to effectively improve the convenience and availability of financial services for enterprises and people in the disaster-stricken area. The first is to guide the banking financial institutions within their jurisdiction to establish green channels for rapid approval, optimize the credit approval process, improve loan approval efficiency, and earnestly make loans as fast as possible. The second is to guide insurance agencies within their jurisdiction to establish a green channel for insurance investigation and settlement of claims, prioritize the arrangement of resources, moderately simplify the settlement of claims, and earnestly compensate as soon as possible. The third is to encourage bank and insurance institutions to innovate their work methods. Under the premise of effective risk prevention and control, explore the use of video connections, remote authentication and other scientific and technological means to improve service efficiency, so that disaster-stricken enterprises and people can get credit funds and insurance compensation as soon as possible.

——Strengthen financial services for enterprises in disaster areas to resume work and resume production. The Banking and Insurance Regulatory Bureau of the disaster-stricken area should strengthen the guidance to the financial services of the banking and insurance institutions within its jurisdiction, and effectively improve the level of financial services for enterprises in the disaster-stricken areas to resume work and resume production. The first is to guide bank insurance institutions within their jurisdiction to continue to track the geological disasters of floods and waterlogging, deepen the understanding of disaster-affected enterprises and farmers in the disaster situation and the financial needs for post-disaster reconstruction, and increase financial services in areas where the disaster situation has been alleviated. The second is to guide banking and insurance institutions within their jurisdiction to optimize supply chain financial services, strengthen credit support for core enterprises and upstream and downstream enterprises in the industry chain, and use the supply chain business system to provide convenient and fast for enterprises in disaster areas through a combination of online and offline. Supply chain financing services.

——We will do our best to help the disaster-stricken enterprises and the masses overcome the difficulties. First, the Banking and Insurance Regulatory Bureau in the disaster-stricken area shall urge the banking financial institutions within the jurisdiction to suspend the operation of the enterprises temporarily affected by the disaster but have development prospects, and shall not blindly draw loans, break loans, or suppress loans. The second is to encourage banking financial institutions within their jurisdiction to support relevant enterprises to overcome difficulties by appropriately reducing loan interest rates, improving loan renewal policy arrangements, increasing credit loans and medium and long-term loans. The third is to urge insurance institutions within their jurisdiction to do a good job in investigation and claim settlement services, and arrange funding resources in advance. The fourth is to encourage banks and insurance institutions to appropriately reduce or exempt service charges for enterprises and people in disaster-stricken areas, reduce financing costs, and further increase efforts to make concessions to the real economy.

——Further increase credit support and insurance guarantee in the disaster area. The Banking and Insurance Regulatory Bureau of the disaster-stricken area shall guide the banking insurance institutions within their jurisdiction to base themselves on their functional positioning and business scope, and improve the credit support and insurance guarantee capabilities for the disaster-stricken area. The first is to guide policy financial institutions to give full play to their own advantages and focus on ensuring the repair of flood-damaged projects under the premise of controllable risks. The second is to guide commercial banks to intensify product and service innovation, reasonably assess the status of damaged enterprises, and focus on supporting enterprises that are temporarily affected by disasters but have good development prospects to meet their reasonable credit needs. The third is to actively help the small and micro enterprises and individual industrial and commercial households in difficulty, increase the resource preference in the field of inclusive finance, and actively reduce the small and medium-sized enterprises by adjusting the principal and interest payment arrangements, moderately reducing the loan interest rate, and perfecting the extension of loan renewal. Micro-enterprise comprehensive financing costs.

——Strengthen the emergency duty. The Banking and Insurance Regulatory Bureau of the disaster-stricken area should fully and timely grasp the development of the disaster situation, and strengthen the duty and information reporting. One is to improve the emergency coordination mechanism. The second is to unblock information reporting channels. The third is to establish a weekly information reporting system.

——Strengthen organizational leadership. Banking and Insurance Regulatory Bureaus in disaster-stricken areas should strictly implement their territorial responsibilities and make overall plans for the financial services of disaster prevention and mitigation self-rescue and disaster relief financial services of bank insurance institutions within their jurisdiction. One is to strengthen the overall situation awareness and responsibility. The second is that the main responsible comrades should rely on the front command and go to the front if necessary. The third is to strengthen coordination and linkage with relevant departments of local governments.