The Conference on the Promotion of Financial Support for the Development of Private Enterprises was held

In order to deeply implement the decision-making and deployment of the Party Central Committee and the State Council and continue to strengthen the financial services of private enterprises, on August 2023, 8, the financial management department and the All-China Federation of Industry and Commerce held a conference on promoting the development of financial support for private enterprises. Gao Yunlong, vice chairman of the National Committee of the Chinese People's Political Consultative Conference and chairman of the All-China Federation of Industry and Commerce, Pan Gongsheng, secretary of the party committee and president of the People's Bank of China, secretary of the party group and director of the State Administration of Foreign Exchange, Zhou Liang, member of the party committee and deputy director of the State Administration of Financial Supervision, and Wang Jianjun, member of the party committee and vice chairman of the China Securities Regulatory Commission, attended and spoke at the meeting. Xu Lejiang, deputy director of the United Front Work Department of the CPC Central Committee and secretary of the leading party group of the All-China Federation of Industry and Commerce, presided over the meeting, and Zhang Qingsong, member of the People's Bank of China party committee and vice president, attended the meeting.

At the meeting, the heads of five private enterprises, including Wencan Co., Ltd., Hengtong Group, Tianshun Wind Energy, Beijing Deqingyuan and Haomi Power, introduced the operation and financing of enterprises and made suggestions on financial support policies. Five financial institutions, including ICBC, China Construction Bank, China CITIC Bank, Bank of Beijing and China Export and Credit Insurance Corporation, exchanged experiences on innovative support models and financial products, improving the ability of private enterprises to provide first loans and credit loans, and giving full play to the promotion function of insurance financing. Representatives of some financial institutions and some private enterprises, representatives of the Shanghai Stock Exchange, Shenzhen Stock Exchange, and the Association of Financial Market Institutional Investors and some private housing enterprises signed strategic cooperation agreements on the spot.

Gao Yunlong pointed out that in recent years, with the strong support of the financial system, the benefits of financial inclusion have been expanding, and the sense of gain of private enterprises has been continuously improved. All departments should thoroughly implement the overall deployment of the "Opinions on Promoting the Development and Growth of the Private Economy" and solidly promote the implementation of various policies. It is hoped that financial institutions will continue to improve the quality and level of financial services, support private enterprises to expand financing channels from credit, bonds and equity, and better meet the diversified financing needs of private enterprises. The Federation of Industry and Commerce should actively do a good job in guiding and providing services, thoroughly implement the strategic cooperation agreements signed with relevant financial institutions, actively build a communication and docking platform between banks and enterprises, strengthen education and training for private enterprises, and create favorable conditions for private enterprise financing. Private enterprises should adhere to standardizing their operations in accordance with the law, strive to achieve their own healthy development and high-quality development, and improve their financing capabilities and levels.

Pan Gongsheng pointed out that the private economy is a new force to promote Chinese-style modernization and an important force to promote the high-quality development of China's market economy, and supporting the development of private enterprises is an important part of financial supply-side structural reform. Doing a good job in financial services for private enterprises will help further stimulate the resilience and vitality of private enterprises, and provide strong support for building a new development pattern and achieving high-quality development. In recent years, the financial management department has earnestly implemented the decision-making and deployment of the Party Central Committee and the State Council, adhered to the "two unwavering", and promoted financial institutions to increase financial support for private enterprises. In the next step, the financial management department will take the "Opinions on Promoting the Development and Growth of the Private Economy" as an action guide to support and serve the private economy, and take effective measures to create positive conditions for the development of private enterprises. Financial institutions should improve their political standing, establish the concept of "equal treatment", and provide high-quality financial support for the development of private enterprises. It is necessary to continue to increase the input of financial resources and elements, and treat enterprises of all types of ownership fairly and equitably. It is necessary to further increase credit investment for private enterprises in key areas such as scientific and technological innovation, "specialization and innovation", and green and low-carbon, and continue to implement the "16 financial rules" of real estate. It is necessary to unblock the three financing channels of private enterprises: stocks, debts, and loans. In terms of loans, we will implement monetary policy tools such as relending and rediscounting, guide financial institutions to strengthen docking visits, promote the innovation of financial products and services, and continue to increase credit investment to private enterprises. In terms of bonds, we will promote the expansion of private enterprise bond financing support tools and expand the scale of private enterprise bond financing. Encourage and guide institutional investors to allocate private enterprise bonds. In terms of equity, we will support the listing and refinancing of private enterprises, actively play the role of local government special guidance funds, and improve the investment exit mechanism. Establish and improve the regular communication and exchange mechanism with private enterprises, and create a good public opinion atmosphere for financial support for the development of private enterprises.

Xu Lejiang pointed out that the private economy is a new force for promoting Chinese-style modernization, an important foundation for high-quality development, and an important force for promoting China's comprehensive construction of a modern socialist power and achieving the second centennial goal. All relevant parties should earnestly implement the spirit of the meeting, and on the basis of widely publicizing the "Opinions on Promoting the Development and Growth of the Private Economy", strengthen the publicity and interpretation of measures related to the development of private enterprises in financial services, pool their wisdom and efforts, and form a joint force of financial support for the development and growth of the private economy.

Zhou Liang pointed out that the State Administration of Financial Supervision has fully implemented the decision-making and deployment of the Party Central Committee and the State Council, always adhered to the "two unwavering", continued to improve the policy system, supervised all banking and insurance institutions to treat all types of ownership enterprises equally and equally, improved the long-term mechanism of "daring to lend, willing to lend, and able to lend", increased credit support for private enterprises, strived to reduce the financing costs of private enterprises, gave play to the function of insurance protection, enriched financial products that meet the needs of private enterprises, and vigorously improved the availability and convenience of financial services for private enterprises. Create a better financial environment for the development and growth of the private economy.

Wang Jianjun pointed out that thoroughly implementing the arrangements of the Party Central Committee and the State Council on promoting the development and growth of the private economy is a major political responsibility of the CSRC. The CSRC will promote the reform of the registration system, improve the function of the capital market, and further play the important role of the capital market in supporting the financing growth of private enterprises. Support qualified private enterprises in listing financing and refinancing, and optimize the "small amount and fast" review mechanism for mergers and acquisitions. Support securities companies to increase service support for private enterprises, encourage participation in private enterprise equity financing support tools, and increase financing channels for private enterprises through private equity asset management plans. In-depth implementation of special support plans and support tools for private enterprise bond financing. Comprehensive use of stocks, bonds and other tools to safely deal with the risks of private real estate enterprises.

Principal responsible comrades of state-owned commercial banks, some joint-stock commercial banks, city commercial banks, and China Export and Credit Insurance Corporation; principal responsible comrades of the People's Bank of China, the State Administration of Financial Supervision, relevant departments of the China Securities Regulatory Commission, relevant departments of the All-China Federation of Industry and Commerce, and the Shanghai Stock Exchange, Shenzhen Stock Exchange, and the Association of Financial Market Institutional Investors attended the meeting. (End)

(People's Bank of China website)