The relevant person in charge of the People's Bank of China said -
Promote financial institutions to transfer profits to the real economy (Sharp Finance)
At the State Council’s regular policy briefing held on July 8, the relevant person in charge of the People’s Bank of China stated that the People’s Bank of China will work with the China Banking and Insurance Regulatory Commission and other relevant departments to continue to promote financial institutions to transfer profits to the real economy and guide the payment industry to better serve the economy and society. Development and the needs of the people will effectively enhance the sense of acquisition and satisfaction of the vast number of financial consumers.
Reduce the fees paid by market entities
Fan Yifei, Deputy Governor of the People’s Bank of China, introduced that in recent years, the People’s Bank of China has strengthened the construction of the payment market, continuously enriched the supply of payment services, focused on improving the quality and efficiency of payment services, continued to optimize the payment infrastructure, and steadily promoted the opening of the payment market, and promoted the high quality of the payment industry. At the same time of development, guide payment service entities to actively assume the social responsibility of serving the real economy.
"Currently, my country's payment market is full of competition. In recent years, the payment industry has continued to make profit, and the payment fee is generally lower than the international level." Fan Yifei introduced that in 2020, all parties in the payment industry will optimize the payment service supply and adopt measures such as reducing or exempting merchant fees to provide entities. Economic gains exceeded 10 billion yuan.
Previously, the People’s Bank of China, the China Banking Regulatory Commission, the National Development and Reform Commission, and the State Administration for Market Supervision issued a notice to reduce the payment handling fees of small and micro enterprises and individual industrial and commercial households, including reducing bank account service charges and bank card handling fees, and reducing RMB transfers Remittance fees, cancellation of some bill business charges, etc.
Fan Yifei said that the relevant measures focus on basic payment services with high demand for fee reduction and high frequency of use, which will help market players restore their vitality and enhance their vitality.
In addition, the People's Bank of China, in cooperation with the China Banking and Insurance Regulatory Commission, introduced measures to reduce cross-bank cash withdrawal fees for automatic teller machines (ATMs) to meet the needs of remote pensions and medical care, and to facilitate the use of cash by the people.
According to reports, after the implementation of the above-mentioned measures, it is expected that the annual fee expenditure will be reduced by 24 billion yuan for market players and the public, of which more than 16 billion yuan will benefit small and micro enterprises and individual industrial and commercial households, which will help reduce capital circulation costs and further optimize business operations. Business environment, promote the quality and expansion of consumption, and play a positive role in boosting the high-quality development of the national economy.
Continue to guide the banking industry to reduce fees and make profits
In recent years, the banking industry has reduced fees and benefits by a large margin. In 2020, the fee reduction and benefits will be 356.8 billion yuan, an increase of 40% over 2019.
Guo Wuping, director of the Consumer Protection Bureau of the China Banking and Insurance Regulatory Commission, introduced that the China Banking Regulatory Commission has continued to guide the banking industry to reduce fees and make profits by introducing policies and systems, intensifying supervision and inspection, and strengthening market constraints through public exposure.
In terms of system construction and policies, the China Banking and Insurance Regulatory Commission, in conjunction with the Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Finance, the People’s Bank of China, and the State Administration for Market Supervision, jointly formulated the "Notice on Further Regulating Credit Financing Charges and Lowering the Comprehensive Financing Costs of Enterprises". The credit, credit enhancement, assessment and other links of the company have been regulated, and preferential measures are especially provided for small and micro enterprises.
In terms of regulatory inspections, since 2019, the China Banking and Insurance Regulatory Commission has systematically carried out three banking inspections in response to corporate fees, clean up bank charges, and financing charges for small and micro enterprises.
After the inspection found the problem, the banking industry voluntarily refunded 2.4 billion yuan.
In terms of public exposure, the China Banking Regulatory Commission has successively announced two batches of typical cases, including the first batch of 5 banks, 6 cases and the second batch of 5 institutions.
Guo Wuping said that fee reduction and profit distribution not only involve the banking industry, but also involve multiple market players.
At present, there is a problem of multiple market entities charging multiple fees. For example, some large Internet platforms collect fees by guiding customers and attracting traffic.
"From the perspective of the next regulatory measures, it is necessary to standardize bank charges on this side, but also to increase the standardization of other market entities related to financing charges, including large Internet platforms and other market entities that provide risk mitigation measures. "Guo Wuping said.
Maintain support for small and micro enterprises
In the first five months of this year, the weighted average interest rate of corporate loans was 4.64%, a decrease of 0.18 percentage points year-on-year; the interest rate of newly issued inclusive small and micro loans in May was 4.93%, a year-on-year decrease of 0.3 percentage points.
"Overall, the financial system supports the real economy relatively solidly, the convenience of corporate financing has improved, and the overall financing cost has been steadily decreasing." Fan Yifei said.
Fan Yifei said that in the future, we will continue to implement a prudent monetary policy and do a good job in cross-cycle policy design.
Continue to unleash the potential of interest rate reform in the loan market, implement and optimize the regulatory requirements for deposit interest rates, and promote further reductions in actual loan interest rates.
In terms of helping the development of small, medium and micro enterprises, Fan Yifei introduced that the People's Bank of China recently issued the "Notice on Deepening the Development of Financial Service Capability Improvement Projects for Small, Medium and Micro Enterprises", which puts forward specific requirements for improving the financial service capabilities of small, medium and micro enterprises.
"We will continue to implement two direct monetary policy tools to maintain financial support for small and micro enterprises. We urge financial institutions to optimize internal resource allocation and policy arrangements, strengthen the use of financial technology, and expand credit loans, first loans, and medium- and long-term loans. The scale of the business of loan and renewal without principal repayment, promoted loan-on-debit loans, continuously improved the ability of financial institutions to serve small, medium and micro enterprises, and accelerated the formation of a long-term mechanism of dare to lend, willing to lend, able to lend, and meeting loans."
“In the next step, the People’s Bank of China will continue to conscientiously implement the concept of'pay for the people', implement the decision and deployment of the Party Central Committee and the State Council to support the development of small and micro enterprises and individual industrial and commercial households, and continue to increase the amount of support for small and micro enterprises and individual industrial and commercial households. The strength of support for development has laid a solid foundation for its healthy development." Fan Yifei said.
Reporter: Wang Wenzheng