As of the end of June, the balance of inclusive small and micro loans increased by 31% year-on-year

　　Finance adds momentum to slightly increase vitality (see highlights in mid-year ⑥)

　　Our reporter Wu Qiuyu

　　Core reading

　　Since the beginning of this year, my country's prudent monetary policy has been applied with precision, and financial institutions have continued to increase their support for small and micro enterprises. The financing of small and micro enterprises has increased in volume, expanded in scope, and decreased in price.

The gradual optimization of small and micro financial services has eased corporate financing difficulties and expensive financing, and has strongly supported the development of the real economy.

　　Small and micro enterprises and individual industrial and commercial households are one of the most dynamic group of enterprises, and they are also an important support for expanding employment and improving people's livelihood.

Whether they develop well or not, not only affects the quality of high-quality economic development, but also affects the achievement of goals such as employment and residents' income.

Since the beginning of this year, my country’s prudent monetary policy has been applied with precision, and financial institutions have continued to increase their support for small and micro enterprises, helping small and micro enterprises and individual businesses to thrive.

　　Monetary policy is applied precisely, and financial support continues to increase

　　Located in Xiejiawan, Jiulongpo District, Chongqing, Muqian Sweet Bakery is a popular dessert shop among consumers.

As the number of orders continues to rise, the store owner Yang Qian has encountered "happy troubles."

"Our store has more and more'fans', and we urgently need to expand our operations, but then the liquidity will be too tight." On the one hand, there is a booming market and on the other hand, there are tight funds. Yang Qian is a little dilemma.

　　At this moment, the Chongqing Nanping branch of China Construction Bank sent timely rain.

"The account manager recommended to me the "Individual Industrial and Commercial Household Mortgage Quick Loan". Only by providing a few information such as business license and real estate certificate, I loaned 1.28 million yuan, and the annual interest rate was only 3.85%. The bank also helped to pay the evaluation fee, Insurance premiums, mortgage registration fees, etc. Such convenient and affordable financial services give me the confidence to expand my business!" Yang Qian was overjoyed.

　　In the first year of the "14th Five-Year Plan", the financial system continued to increase financial support for small and micro enterprises, individual industrial and commercial households and other key areas.

According to data from the People’s Bank of China, as of the end of June this year, my country’s inclusive small and micro loans balance was 17.7 trillion yuan, a year-on-year increase of 31%, 18.7 percentage points higher than the growth rate of various loans in the same period; inclusive small and micro loans supported 38.3 million Small and micro business entities, a year-on-year increase of 29.2%.

　　Not only is the volume increased, the coverage is expanded, but also the price is reduced.

Since the beginning of this year, the People's Bank of China has continued to release the dividends of the LPR reform, optimized the supervision of deposit interest rates, lowered the cost of bank liabilities, and promoted a steady decline in the overall financing cost of the real economy.

In the first half of the year, the contract interest rate for new loans issued by small and micro enterprises was 5.18%, 0.3 and 1.06 percentage points lower than the same period last year and the same period in 2019, respectively. Financial institutions continued to benefit small and micro enterprises and individual industrial and commercial households.

　　"Since the beginning of this year, the prudent monetary policy has remained flexible, precise, reasonable and appropriate. The People's Bank of China has adhered to the combination of long-term and short-term measures, and addressed both the symptoms and the root causes, and continued to improve the financial service level of market entities such as small and micro enterprises. The situation." said Zou Lan, director of the Financial Market Department of the People's Bank of China.

　　Innovate monetary policy tools to ease financing difficulties and expensive financing

　　Shangping Town, Lianping County, Heyuan City, Guangdong Province, nowadays is the time when 10,000 acres of eagle-mouthed peaches are open for picking, and there is a busy scene in the orchard.

　　This patch of dense and fertile peach forest is inseparable from the "running water" of finance.

Since the beginning of this year, under the incentive of the central bank’s monetary policy tools to directly reach the real economy, the People’s Bank of China’s Heyuan Central Branch has strengthened financial support for the cultivation of eagle-billed peaches. At the beginning of this year alone, it has promoted banking institutions to issue a total of 11.4 million yuan in credit loans to 89 peach farmers. , Effectively solved the problem of insufficient production funds, and helped plant farmers reap a bumper harvest.

　　In order to effectively solve the financing difficulties and expensive financing of small and micro enterprises, on June 1, 2020, the People's Bank of China created two monetary policy tools that directly reach the real economy-the inclusive small and micro enterprise loan deferred principal and interest policy and the credit loan support plan. Use central bank funds to incentivize banks to "delay as long as possible" for inclusive small and micro loans, and substantially increase credit loans.

In March of this year, the People's Bank of China announced that it will further extend the implementation period of the two direct tools to the end of this year, and highlight its support to individual industrial and commercial households.

　　Data shows that from 2020 to June 2021, banking financial institutions across the country have implemented a total extension of 11.8 trillion yuan in loan principal and interest, and issued a total of 6.9 trillion yuan in inclusive small and micro credit loans.

"The new tools have significantly improved the accuracy and directness of monetary policy, and will help further ease the difficulties and expensive financing of small and micro enterprises." said Dong Ximiao, chief researcher of Zhaolian Finance and part-time researcher of the Institute of Finance of Fudan University.

　　For many small and micro enterprises and individual industrial and commercial households, it is difficult to obtain the first loan from the bank.

This year's government work report puts forward the requirements of "guide banks to expand credit loans and continue to increase first-lending customers."

The financial regulatory authorities also clearly require large banks and joint-stock banks to play a leading role in the industry, lower the focus of service, cover the "blank areas" of financing supply for small and micro enterprises, and strive to achieve a higher number of new small and micro enterprises "first lenders" in 2021 than 2020 year.

　　"The company got its first loan less than a year after it was established. It does not need to provide operating flow or mortgage. The Agricultural Bank of China's first e-loan is really convenient!" In Jiangsu Nantong Jiu Run Trading Co., Ltd In the warehouse, Li Ling, the general manager of the company, said excitedly while showing the operation interface of the Agricultural Bank of China’s mobile application.

　　The "first e-loan" mentioned by Li Ling is a pure credit loan product launched by the Agricultural Bank of China to precisely serve small and micro enterprises in the start-up stage.

According to Zhang Xing, deputy general manager of the Agricultural Bank of China's Inclusive Finance Division, since the introduction of the "first-account e-loan" nationwide, it has supported more than 3,000 "first-lenders" small and micro enterprises, with a total of 150 million yuan in loans.

　　Improve financial service capabilities to better support the real economy

　　Since the beginning of this year, my country's economy has continued to recover steadily and improved while maintaining stability, but the economic recovery is still unstable and uneven.

In particular, the prices of some bulk commodities continue to rise, and some small and micro enterprises are facing operating difficulties such as rising costs and still need the necessary support from macroeconomic policies.

　　On July 15, the central bank lowered the deposit reserve ratio of financial institutions by 0.5 percentage points, with the intention of optimizing the capital structure of financial institutions, enhancing financial service capabilities, and better supporting the real economy.

This will release about 1 trillion yuan in long-term funds and reduce the capital cost of financial institutions by about 13 billion yuan per year. Through the transmission of financial institutions, it can promote the reduction of social comprehensive financing costs.

　　At the same time, the financial system continues to take targeted measures to provide strong support to small and micro enterprises and individual businesses.

Recently, the People’s Bank of China and other four departments have launched 12 measures to reduce payment handling fees in five areas, including bank account services, RMB settlement, electronic banking, bank card swiping, and payment account services; the People’s Bank of China has also cooperated with the China Banking Regulatory Commission to reduce cross-bank cash withdrawal fees from ATMs After the implementation of all fee reduction measures, it is estimated that the annual fee expenditure will be reduced by about 24 billion yuan, of which more than 16 billion yuan will benefit small and micro enterprises and individual industrial and commercial households.

On July 5, the People’s Bank of China issued the “Notice on Deepening the Development of Financial Service Capability Improvement Projects for Small, Medium and Micro Enterprises” to further enhance the financial service capabilities of small, medium and micro enterprises (including individual industrial and commercial households) of banking financial institutions, and strengthen the “dare to lend, willing to lend” The construction of a long-term mechanism for “Energy Loans, Meeting Loans” will promote the financial services to better serve the real economy in the new stage of development.

　　"At present, alleviating the financing difficulties of small and micro enterprises has entered the deep water. The pursuit of scale and speed should be shifted to the pursuit of quality and efficiency. The focus of work should be to establish a long-term mechanism to optimize the ecology of small and micro financial services." Dong Ximiao believes that in the future, finance The system should focus on both supply and demand, deepen the use of financial technology, innovate products and services, improve the policy environment, continuously optimize the ecology of small and micro financial services, and promote the high-quality development of small and micro financial services.

　　Zou Lan said that in the next step, the People's Bank of China will maintain policy continuity and stability, carry out in-depth projects to improve the financial service capabilities of small, medium and micro enterprises, and carry out special activities to support the development of individual industrial and commercial households by financing small businesses and serving the people’s livelihood. Continue to provide financial services for market entities such as small and micro enterprises.