Financial efforts to support the real economy
Last year's new manufacturing loans exceeded the sum of the previous five years (Rui Finance)
Hubei Jingzhou Development Zone optimizes the business environment and helps enterprises to resume work and production through financial support and labor services.
The picture shows the employees working on their posts in the dust-free workshop of Hubei Wufang Optoelectronics Co., Ltd. a few days ago.
Photo by Huang Zhigang (People's Vision)
Deqing County, Zhejiang Province, has introduced policies to benefit enterprises in terms of employment security, financial support, etc., to promote enterprises to reach full production capacity, expand capacity and increase production.
The picture shows the workers on the spinning production line in the workshop of Mingpin Textile Co., Ltd. in Yuyue Town, Deqing County.
Photo by Xie Shangguo (People's Vision)
According to data released by the China Banking and Insurance Regulatory Commission on March 2, as of the end of 2020, RMB loans have increased by 19.6 trillion yuan from the beginning of the year, and a total of 6.6 trillion yuan of loans have been deferred and issued in 5 pilot provinces and cities. The emergency loan amounted to 24.27 billion yuan, achieving the goal of 1.5 trillion yuan in profits to the real economy throughout the year, and strongly supported the resumption of work and production and the "six stability" and "six guarantees."
Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission, stated that in 2021, financial institutions will be improved to effectively support the real economy, and more precise support will be given to key areas such as technological self-reliance, advanced manufacturing, private enterprises, small and micro enterprises, rural revitalization, and green development.
Last year, new manufacturing loans increased by 2.2 trillion yuan
On March 2, the State Council Information Office held a press conference to promote the high-quality development of the banking and insurance industry.
Guo Shuqing introduced at the meeting that in 2020, facing severe and complex domestic and foreign situations, the China Banking and Insurance Regulatory Commission and the entire banking and insurance industry system will strive to modernize the financial governance system and governance capabilities, and support the rapid recovery of the national economy from stagnation to normal development.
According to data from the China Banking and Insurance Regulatory Commission, in 2020, new manufacturing loans will be 2.2 trillion yuan, exceeding the total of the previous five years; new private enterprise loans will be 5.7 trillion yuan, an increase of 1.5 trillion yuan over the previous year; health insurance compensation expenditures will be 292.1 billion yuan Yuan, a year-on-year increase of 24.2%, accumulating 1.57 trillion yuan in long-term health protection risk reserves.
Actively help to win the battle against poverty. In the past three years, a total of 9.2 trillion yuan of targeted poverty alleviation loans have been issued nationwide, and a total of 3.5 trillion yuan of risk protection has been provided by agricultural-related poverty alleviation insurance.
Actively cooperate with the fight against pollution, and by the end of 2020, the green credit balance of 21 major banks will reach 11.5 trillion yuan.
In the field of foreign trade, Song Shuguang, chairman of China Export & Credit Insurance Corporation, said that in order to stabilize foreign trade, CITIC Insurance has introduced 23 phased and unconventional measures to increase support from six aspects including underwriting, claims and services.
Last year, the total underwriting amount of CITIC Insurance exceeded US$700 billion, with a growth rate of 15%, which greatly exceeded the growth rate of exports.
Among them, supporting exports exceeded 580 billion U.S. dollars, accounting for 22% of total exports, which was much higher than the international average.
Last year, 147,000 customers were supported, of which more than 40,000 new customers were added, an increase of 58%, and approximately 15 million export-related jobs were guaranteed.
Innovative services for small and micro enterprises. In 2020, the export of small and micro enterprises was nearly 100 billion U.S. dollars, an increase of 41%, and the compensation paid was 120 million U.S. dollars, an increase of 28%.
Stable disposal of debt risks of large and medium-sized enterprises
"In 2020, decisive achievements will be made in the battle to prevent and resolve financial risks." Guo Shuqing said that the banking and insurance industry's risks have shifted from rapid divergence to gradual convergence. A number of major problems and hidden dangers are "precisely dismantled" and firmly guarded against systemic risks The bottom line.
Specifically, the financial leverage ratio has dropped significantly, and the blind expansion of financial assets has been fundamentally reversed.
From 2017 to 2020, the average annual growth rate of total assets in the banking and insurance industries was 8.3% and 11.4%, which was roughly half of the average annual growth rate from 2009 to 2016.
The proportion of idling interbank assets within the financial system has dropped significantly.
"In addition, the identification and disposal of non-performing assets in the banking industry has made great strides. The cumulative disposal of non-performing loans from 2017 to 2020 is 8.8 trillion yuan, which is more than the total of the previous 12 years." The historical peak pressure drop is about 20 trillion yuan.
Financial illegal and criminal acts have been severely punished, the risks of illegal financial groups have been gradually resolved, a large number of illegal fund-raising cases have been dealt with in an orderly manner, and the Internet financial risk situation has fundamentally improved.
Guo Shuqing pointed out that the growth rate of real estate loans in 2020 is lower than the growth rate of various loans for the first time in eight years, and the bubble of real estate financialization has been curbed.
The incremental risk of local government's implicit debt has been basically controlled, and the resolution of existing risks is progressing in an orderly manner.
The debt risks of large and medium-sized enterprises have been handled steadily. By the end of 2020, 20,000 debt committees will be established nationwide, the market-based and legalized debt-to-equity swap amount will be 1.6 trillion yuan, and more than 500 large and medium-sized enterprises will implement joint credit extension pilot projects.
Promote a higher level of financial opening
In terms of products and services, relevant innovations were accelerated.
Guo Shuqing introduced that according to reports from relevant international organizations, China's inclusive financial services have reached the world's advanced level, with electronic payment, digital credit, and online insurance occupying a leading position in the world.
According to data from the China Banking and Insurance Regulatory Commission, in 2020, the total investment of information technology funds by banking institutions and insurance institutions will be 207.8 billion yuan and 35.1 billion yuan, an increase of 20% and 27% respectively year-on-year.
The five large banks have established specialized financial technology companies, and the availability and convenience of financial services have been significantly enhanced.
For example, China Construction Bank gave full play to its advantages in technology and data, implemented process reengineering around small and micro enterprises, established a "small and micro fast loan" online business model, and innovatively launched a series of inclusive financial exclusive service programs.
At the end of 2020, the national inclusive loan balance for small and micro enterprises was 15.3 trillion yuan, a growth rate of more than 30%, of which 5 large banks increased by 54.8%.
The administrative village has basically achieved full coverage of basic financial services.
Critical illness insurance has covered 1.13 billion urban and rural residents.
Guo Shuqing said that in 2021, efforts will be made to deepen the structural reform of the financial supply side, cultivate and develop more specialized and characteristic financial institutions, further develop banking products that meet the needs of the people, and standardize the development of insurance services such as the third pillar of pension insurance; Loosely monitor and resolve various financial risks, strengthen the financial rule of law, and improve long-term mechanisms; maintain a fair competitive market environment, strengthen anti-monopoly and prevent the disorderly expansion of capital, and ensure that financial innovation is carried out under the premise of prudential supervision; implement deeper Reform the financial market and institutions, promote higher levels of financial opening, unblock the circulation of factors, and stimulate market vitality.