(Economic Observation) China continues to provide policy "red envelopes" for small, medium and micro enterprises

　　China News Service, Beijing, December 16 (Reporter Xia Bin) The development environment for small, medium and micro enterprises this year is not easy.

At a time when the fight against the epidemic has not yet come to rest assured, the sporadic domestic epidemics are affecting the overall economic recovery, and the negative effects of global commodity price increases have spread, making the operating cost pressures of small, medium and micro enterprises increase compared with previous years.

　　The State Council executive meeting held on the 15th once again issued a "red envelope" for small and medium-sized enterprises, deploying further market-oriented methods to strengthen financial support for small, medium and micro enterprises.

　　The total number of market entities in China has exceeded 150 million, most of which are small, medium and micro enterprises and individual industrial and commercial households, which play a key role in ensuring the development and stability of the society. However, the foundation for the recovery of small, medium and micro enterprises is still unstable since this year. , There is still demand for further policy support.

　　The executive meeting of the State Council pointed out that the current difficulties faced by small, medium and micro enterprises and individual industrial and commercial households are great. It is necessary to focus on protecting market entities, respond to the new downward pressure on the economy, and use market-based methods to increase financial support for small, medium and micro enterprises and individual industrial and commercial households. support.

　　Dong Ximiao, chief researcher of China Merchants Finance, said that to do a good job of "six stability" and "six guarantees", the focus is on protecting market players, especially small, medium and micro enterprises with a large number of areas. This is to ensure employment, basic people's livelihood, and industrial chain protection. The basis and premise of supply chain stability is of great significance.

　　In December alone, Chinese officials have successively “took out” to support small, medium and micro enterprises, including a comprehensive reduction of 0.5% of the reserve ratio and a reduction of the agricultural refinancing and small refinancing interest rates by 0.25 percentage point. The executive meeting of the State Council also provided The latest policy on financial support for small, medium and micro enterprises was introduced.

　　For example, the inclusive small and micro enterprise loan deferred debt repayment support tool is converted to the inclusive small and micro loan support tool.

From 2022 to the end of June 2023, the People's Bank of China will provide funds for inclusive small and micro enterprises and individual industrial and commercial households issued by local corporate banks at a rate of 1% of the balance increase to encourage the increase in inclusive small and micro loans.

　　At the same time, starting from 2022, inclusive small and micro-credit loans will be included in the management of the re-lending support plan for supporting agriculture and small-scale micro-credit. The 400 billion yuan re-loan line originally used to support inclusive small- and micro-credit loans can be used on a rolling basis, and can be used when necessary. Further increase the amount of re-loan.

Qualified local corporate banks can issue inclusive small and micro credit loans to the People's Bank of China for re-loan preferential funding support.

　　Wen Bin, chief researcher of China Minsheng Bank, pointed out that after the outbreak of the new crown epidemic, in order to rescue small and micro enterprises and support the resumption of work and production, the central bank created the inclusive small and micro enterprise loan extension support tool and the inclusive small and micro enterprise credit loan support plan. A monetary policy tool that directly reaches the real economy.

The two tools have played an active role in supporting the development of small and micro enterprises, and have experienced two extensions, the second extension to the end of this year.

　　"Under this situation, the inclusive small and micro enterprise loan deferred debt repayment support tool will be converted into the inclusive small and micro loan support tool, and the inclusive small and micro credit loan will be included in the management of the agricultural support and small re-lending support plan, so that The seamless connection of the original policies will help guide financial institutions to continue to increase support for small and micro enterprises, promote the growth of credit scale, optimize the credit structure, and achieve the goal of stable growth." Wen Bin said.

　　The executive meeting of the State Council also mentioned that it is necessary to build a national integrated financing credit service platform network, oriented to serve small, medium and micro enterprises financing, and accelerate the promotion of market entity registration and administrative punishment under the premise of ensuring information security in accordance with laws and regulations. , Judicial judgment and enforcement, taxation, social security payment and other information sharing, helping banks improve their ability to serve small, medium and micro enterprises.

　　In addition, it is necessary to improve regulations on performance evaluation and due diligence exemption for financial institutions issuing small, medium and micro loans.

Support financial institutions to issue special financial bonds for small and micro enterprises.

Expand the scale of government financing guarantee business for small and micro enterprises and reduce guarantee costs.

　　Wen Bin believes that the deployment of relevant policies has improved the long-term mechanism of financial services for small, medium and micro enterprises, and will help improve the service capabilities of financial institutions, so that they can borrow, willingly, able, and will lend.

　　Tian Lihui, dean of the Financial Development Research Institute of Nankai University, told a reporter from China News Agency that he supports small, medium and micro enterprises to enhance the endogenous motivation of financial institutions and optimize the internal assessment and guidance mechanism of the banking industry.

In the process of actual implementation of inclusive loans for small and micro enterprises, the grass-roots personnel of banks bear greater responsibilities, resulting in a situation where they dare not borrow, are unwilling to borrow, and lend more than less.

The government should strengthen credit policy guidance, urge commercial banks to improve their internal incentive and assessment mechanisms, implement due diligence requirements, and alleviate the worries of the bank's grassroots credit employees.

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