China News Service, Beijing, June 15 (Reporter Zhao Jianhua) The Ministry of Finance of China recently issued a special fund for inclusive financial development in 2021 (hereinafter referred to as special fund) 4.467 billion yuan (RMB, the same below), plus 47.48 issued in advance at the end of 2020. RMB 9.215 billion of special funds for 2021 have all been released, an increase of 31.2% over the previous year.
According to the Ministry of Finance on the 15th, in response to the impact of the epidemic, in 2020, we will work with relevant departments to optimize and adjust the policy of guaranteed loans and discounts for entrepreneurship, expand the coverage of loan policies, lower the threshold for loan applications, increase loan limits, and exempt counter-guarantee requirements.
As of the end of 2020, the balance of national entrepreneurial guaranteed loans was 221.6 billion yuan, a year-on-year increase of 53.7%; in 2020, 160 billion yuan of loans were issued, benefiting 1.4 million people.
In 2021, 6.336 billion yuan of interest subsidy and bonus funds for entrepreneurial guaranteed loans were allocated, an increase of 65.9% year-on-year, accounting for 68.8% of the annual inclusive financial development special funds.
While supporting entrepreneurship and innovation, the Ministry of Finance guides local governments to work together to promote small and micro financing.
Disbursement of financial support to deepen private and small and micro enterprise financial service pilot cities with 2.41 billion yuan in rewards and subsidies, and support 60 pilot cities to improve small and micro financial services.
The Ministry of Finance requires local governments at all levels to focus on credit risk compensation or reimbursement for private and small and micro enterprises, as well as capital replenishment of government financing guarantee institutions, and make every effort to promote the “increment, expansion, cost reduction, and quality assurance of private and small and micro enterprise loans” ".
In order to improve efficiency and accelerate the benefits of enterprises and people, the Ministry of Finance requires all localities to speed up the fund declaration and review process. The central government's special fund allocation will be completed in mid-May this year, more than 4 months earlier than previous years.
At the same time, the special funds are included in the direct fund monitoring system, and local governments are required to release the funds to the cities and counties within one month to ensure timely delivery, truthful data, clear accounts, and clear flow.
The Ministry of Finance stated that in the next step, it will conscientiously sum up the financial support to deepen the work experience of private and small and micro enterprise financial services in pilot cities, improve the effectiveness of the policy of discounting interest on guaranteed loans for entrepreneurship, further study and improve the management of special funds for inclusive finance development, and optimize financial support for inclusive finance Develop a long-term mechanism and continuously improve the efficiency of the use of special funds.
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