(Economic Observation) Financial innovations frequently emerge, China's multi-pronged approach to help companies "out of difficulties"
China News Service, Beijing, November 19th, title: Financial innovations are frequently used. China's multi-pronged approach to help companies "out of difficulties"
China News Agency reporter Wei Xi
Since the beginning of this year, in the face of the impact of the new crown pneumonia epidemic, Chinese officials and major banking institutions have taken a multi-pronged approach and frequently introduced financial innovations to help companies "out of trouble."
On the 19th, the People's Bank of China held the fourth press conference of "Financial Support for Market Entities", inviting financial institutions to introduce relevant situations.
Improve the mechanism of "real money" incentives
Jin Penghui, deputy director of the Shanghai headquarters of the People's Bank of China and president of the Shanghai branch, said at the press conference that in terms of improving incentives, the Shanghai headquarters of the People's Bank of China, in conjunction with relevant departments, has issued a policy toolbox of the "18 Shanghai Finance" policies.
There are a lot of “dry goods” in this policy toolbox, such as the establishment of a special loan of 12 billion yuan (RMB, the same below) for bail-out; the promotion of government financing guarantee agencies to expand the guarantee magnification to no less than 5 times. The scale of increased guarantees reached 30 billion yuan; increased incentives for small and micro credit, especially for companies severely affected by the epidemic, and lowered the lower limit of compensation for non-performing loans from 1.5% to 1.2%.
This series of measures has actively and effectively guided commercial banks to increase their support for small and micro enterprises.
At the same time, the supervision and evaluation of financial services for small and micro enterprises will be carried out, and the evaluation and evaluation system of local state-owned financial enterprises will be optimized.
Zhou Fengmin, president of the Jinan branch of the People’s Bank of China, said that in terms of the use of central bank’s preferential funds, 300 billion yuan of special re-loans, 500 billion yuan of re-loans and discounts, and 1 trillion yuan of re-loans and discounts have been leveraged to leverage over 110 billion yuan in loans. , Supporting 120,000 market entities, Shandong Province has not experienced a wave of bankruptcy or unemployment caused by financing problems.
In terms of the use of fiscal funds, the coordination of fiscal and financial policies has been strengthened, and a 2 billion provincial special fund for credit enhancement of loans for small, medium and micro enterprises has been established in Shandong Province. At the same time, it has supported the conversion of new and old kinetic energy to financial innovation products, Financial institutions and intermediaries that support corporate bond financing will give special rewards.
Technology helps build a big data platform
Zhang Ruihuai, President of the Nanchang Central Sub-branch of the People's Bank of China, said that the Nanchang Central Sub-branch is actively promoting the integration of financial services and digital technology. On the one hand, in November 2018, it developed and launched the Jiangxi Province small and micro customer financing service platform to showcase online micro-credit There are 294 kinds of products.
By the end of October, there were 2.051 million registered users on the platform, and banking institutions had granted 259.23 billion yuan in loans to 181,000 platform loan companies.
On the other hand, it has innovated and established a big data platform for corporate revenue and expenditure. At present, it has collected more than 500 million transaction records of 3.29 million enterprises in Jiangxi Province to help banks in product development and risk pricing.
The operation of the two platforms has effectively alleviated the information asymmetry between banks and enterprises, and has played a positive role in acquiring customers and connecting with suitable products.
Tian Zhe, general manager of the Inclusive Finance Business Department of Industrial and Commercial Bank of China, said that ICBC has strengthened technological empowerment and improved loan availability.
From January to September this year, through the credit-type inclusive loan product "Business Quick Loan", more than 1 million small and micro enterprises have proactively provided credit loans exceeding 850 billion yuan, with a business balance exceeding 100 billion yuan, an increase of 203% from the beginning of the year; There are 1,178 digital supply chains in place, an increase of 734 from the beginning of the year; a total of nearly 30,000 small and micro enterprises have been provided with "first loan" services.
Innovative credit products "blood supplement" + "cost reduction"
Zhou Boting, general manager of China Minsheng Bank's small and micro financial business department, said that customer needs are the source and driving force of the innovative development of financial institutions.
To this end, Minsheng Bank is based on the innovation of customer needs, "enriching blood" + "reducing costs.
Faced with a large number of small, medium and micro enterprises with diverse needs, Minsheng Bank categorizes and tiers according to user behavior and preferences, and provides products such as credit, guarantee guarantee, and mortgage guarantee, including "resumption loans" and "peak season loans", which are targeted at specific customers. "Anti-epidemic loans", "school loans" for the education industry, etc.; in terms of mortgage guarantees, efforts are also made to expand the scope of collateral, from standard real estate housing to innovative collateral fields such as intellectual property rights.
From January to October this year, Minsheng Bank increased the credit limit for 56,000 small and micro customers; for temporarily trapped small, medium and micro enterprises, it helped customers tide over difficulties by extending the term, adjusting repayment methods, and credit protection and other support policies.
As of the end of October, the balance of inclusive small and micro loans of the People's Bank of China Minsheng Bank was 487.3 billion yuan, an increase of more than 50 billion yuan from the beginning of the year.
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