Xinhua News Agency, Beijing, September 1 (Reporter Zhang Qianqian) The State Council executive meeting held on the 1st made arrangements to intensify relief assistance for market entities, especially small, medium and micro enterprises, strengthen policy reserves, and make cross-cyclical adjustments.
The meeting proposed that this year an additional 300 billion yuan of small re-loan lines will be added to support local corporate banks in granting loans to small and micro enterprises and individual industrial and commercial households.
The State Council executive meeting held in March this year has decided to extend the deferred principal and interest payment policy and credit loan support plan for inclusive small and micro enterprise loans to the end of the year.
“The decision to add another 300 billion yuan of small refinancing loans is to further strengthen the assistance to small and micro enterprises on this basis.” Zeng Gang, deputy director of the National Finance and Development Laboratory, said that the funds provided by refinancing are stable and Low cost and long term can play a role in strengthening support.
The meeting proposed to improve the loan interest discount and bonus policy for enterprises in industries severely affected by the epidemic.
Promote banks to issue more inclusive small and micro credit loans.
Establish a national financing guarantee fund risk compensation mechanism to support guarantee agencies to provide guarantees for small and micro enterprises that lack collateral and credit records.
"Small and micro enterprises in some industries have now recovered, but small and micro enterprises in the service industry are more severely affected by the epidemic and need special policy support." Zeng Gang said that loan discounts and incentives and subsidies policies can reduce small and micro businesses in related industries. The capital cost of the enterprise can effectively diversify the risks borne by the bank at the same time.
At the same time, Zeng Gang said that financing guarantees are an important mechanism for diversifying the risks of small and micro enterprises. While the cost is low, it can also effectively reduce the risks of the banking industry and stimulate the willingness of banking financial institutions to support small and micro enterprises.
The meeting proposed to guide financial institutions to carry out bill discounting and standardized bill financing, and the People's Bank of China to provide rediscount support to ease the pressure of small, medium and micro enterprises to occupy funds.
Bills are a means of payment, and the formation of bills is based on actual transactions.
Zeng Gang said that the implementation of bill discounting and standardized bill financing can increase financial support while allowing funds to be accurately transmitted to small, medium and micro enterprises that conduct related transactions.
In addition, the meeting also proposed to further deepen the reform of "delegating management and service", make overall plans for cross-cycle adjustments, and strengthen policy reserves.
Zeng Gang said that small, medium and micro enterprises are an important part of my country's economy and an important body in absorbing employment.
Further relief and assistance to small, medium and micro enterprises are of great significance for stabilizing growth and ensuring employment.