Finance helps the economy run within a reasonable range (authoritative interview)
Since the beginning of this year, the China Banking and Insurance Regulatory Commission has strengthened supervision and guidance, further promoted the reform and opening up of the banking and insurance industry, continued to improve the quality and efficiency of serving the real economy, and resolutely maintained the bottom line of no systemic financial risks.
At present, the complexity, severity and uncertainty of my country's economic development environment are rising. How can the China Banking and Insurance Regulatory Commission further guide the banking and insurance industry to increase and improve financial supply, and increase support for the real economy?
How to effectively prevent and resolve financial risks and maintain the safe and stable operation of the financial system?
The reporter interviewed Liang Tao, member of the Party Committee and Vice Chairman of the China Banking and Insurance Regulatory Commission.
Increase and improve financial supply and continue to increase support for the real economy
Reporter: Since the beginning of this year, what measures has the China Banking and Insurance Regulatory Commission taken to guide the banking and insurance industry to serve the real economy, and how effective are they?
What aspects will bancassurance institutions increase their support for the real economy in the next step?
Liang Tao: The China Banking and Insurance Regulatory Commission will guide the banking and insurance industry to further increase financial support for the real economy, continue to increase the total amount of credit, optimize the credit structure, reduce financing costs, and continue the policy of deferred repayment of principal and interest.
In the first quarter of this year, manufacturing loans increased by 1.8 trillion yuan, 1.7 times the increase in the same period last year.
The balance of inclusive loans to small and micro enterprises was 20.6 trillion yuan, a year-on-year increase of 22.6%.
The balance of high-tech industry loans exceeded 7 trillion yuan.
The interest rates of newly issued corporate loans and inclusive small and micro enterprise loans in the first quarter both fell by more than 0.2 percentage points from the beginning of the year.
At present, the downward pressure on the economy is increasing, and the banking and insurance industry has also encountered some difficulties in the process of supporting the real economy.
For example, companies in industries severely hit by the epidemic have unstable operating income, and it is difficult to repay bank loans on time. Banking institutions are under great pressure to rebound in non-performing loans; some companies’ financing is mainly to maintain existing liquidity, and there is little intention to increase or expand financing , the relative shrinkage of effective financing demand, etc.
Facing new difficulties and challenges, the next step is to guide the banking and insurance industry to increase and improve financial supply, and encourage large banks and other high-quality listed banks to release more credit resources.
Establish and improve the long-term assessment mechanism for insurance funds, enrich the channels for insurance funds to participate in capital market investment, encourage insurance asset management companies to increase the issuance of portfolio insurance asset management products, guide the allocation of more funds to equity assets, and continue to increase the amount of funds available to them. The support for the real economy includes the following measures:
Effectively increase support for weak links.
Guide banks to increase the proportion of first loans and credit loans in small and micro enterprise loans, and continue to reduce loan interest rates.
Ensure the stable growth of agriculture-related credit, and actively develop the first loan and credit loan for new agricultural business entities.
Continue to standardize the development of the third pillar pension insurance, and promote the improvement of health insurance services.
Promote the reduction of comprehensive financing costs for enterprises.
Continue to standardize the charging behavior of banking institutions for credit, loan assistance, credit enhancement and assessment, and standardize the management of market price adjustment of banking services.
Do a good job in credit evaluation and review of continuous financing in advance, and effectively reduce the capital turnover cost of enterprises.
Improve the level of financial services for new citizens.
Guide banking and insurance institutions to increase credit support and insurance protection for new citizens in entrepreneurship and employment, housing purchase and housing, education and training, etc.
Implement the financial assistance policy to help enterprises and support market players to ease liquidity difficulties
Reporter: The state has issued a package of relief and assistance policies for industries and enterprises severely hit by the epidemic. How does the China Banking and Insurance Regulatory Commission guide the banking and insurance industry to implement relevant policies to be effective?
Liang Tao: Since the beginning of this year, the China Banking and Insurance Regulatory Commission has guided the banking and insurance industry to increase financial support for industries, small and medium-sized enterprises and individual industrial and commercial households that have been severely affected by the epidemic. , and focus on supporting market players to alleviate liquidity difficulties.
First, continue to increase loan support for small and micro enterprises and rural revitalization.
Give full play to the role of supervision in counter-cyclical adjustment, and continue to clarify the goals of “two increases” in the growth rate and number of households for inclusive small and micro enterprises. Among them, the new inclusive loans for small and micro enterprises by large state-owned banks this year will reach 1.6 trillion yuan, and urban commercial loans will reach 1.6 trillion yuan. Banks have significantly increased the proportion of inclusive loans to small and micro enterprises.
Banks are required to give credit resources to major grain-producing counties and 160 key counties for national rural revitalization.
The second is to help difficult industries tide over the difficulties.
Guide and urge banking and insurance institutions to proactively provide services in areas such as catering, lodging, retail, tourism, culture, transportation and other industries that are more severely affected by the epidemic, and provide services such as loan credit and insurance claims, and increase financial resources for difficult industries.
Guide insurance institutions to provide insurance protection for property losses caused by the shutdown of production and production due to the epidemic, and profit losses caused by business interruptions.
Banking and insurance institutions are required to provide strong support for ensuring the smooth flow of freight and logistics, provide flexible and convenient "green channel" services to transportation enterprises that undertake heavy tasks of epidemic prevention and control and emergency transportation, and reasonably adjust auto loans for truck drivers and personal housing mortgages. Awaiting repayment arrangements.
The third is to strengthen financial service guarantees for areas severely affected by the epidemic.
In light of the local epidemic prevention and control requirements and changes in the epidemic situation, guide the local banking and insurance regulatory bureaus to introduce more targeted measures to help enterprises according to local conditions, and coordinate and solve outstanding problems reported by local industries, enterprises and the public.
For example, the Shanghai Banking and Insurance Regulatory Bureau has stepped up the promotion of loan renewal, improved the efficiency of loan renewal processing, supported the seamless connection of financing turnover of small and micro enterprises in normal operation, and eased the pressure on working capital.
The banking and insurance industry maintains a stable operation, and the risks are generally controllable
Reporter: The current increase in international and domestic risks and challenges will have any impact on the safe and stable operation of my country's banking and insurance industry?
What measures will be taken in the next step to effectively prevent possible risks?
Liang Tao: The current international situation is full of uncertainties. The tightening policies of developed economies in Europe and the United States may put pressure on my country's cross-border capital flows and the RMB exchange rate.
At the same time, the price of imported raw materials may also rise, putting pressure on the production and operation of small, medium and micro enterprises.
Therefore, the safe and stable operation of the financial system is crucial to stabilizing the macroeconomic market.
The fundamentals of my country's economy remain stable and sound in the long run, and the banking and insurance industry continues to maintain a stable operation, and risks are generally controllable.
In the first quarter, the non-performing loan ratio of the banking industry was 1.79%, maintaining a reasonable level; banking institutions continued to strengthen the disposal of non-performing assets, with a total of nearly 600 billion yuan disposed of in the first quarter.
The comprehensive solvency adequacy ratio and core solvency adequacy ratio of insurance companies have maintained a relatively high level, and the overall risk resistance capability is relatively strong.
At the same time, risks in key areas are at a manageable level.
The real estate credit issuance was generally stable, and the development loans of real estate enterprises had a positive month-on-month growth for three consecutive months, which met the reasonable financing needs of real estate in an orderly manner. The non-performing rate of real estate loans was significantly lower than that of all loans, and the risks were generally controllable.
Inclusive loans to small and micro enterprises continued to increase, expand, and reduce prices, and risks in related fields were also well controlled.
In the next step, the China Banking and Insurance Regulatory Commission will coordinate the prevention and control of the epidemic and economic development, put forward regulatory policies, and focus on stabilizing the macroeconomic market.
The first is to increase financial support for the real economy.
Continue to strengthen credit support and insurance protection for industries and small, medium and micro enterprises that have been greatly affected by the epidemic, support the smooth flow of freight and logistics, and ensure the safety and stability of the industrial chain and supply chain.
Optimize financial support for key areas of consumption, improve the level of financial services for new citizens, support road transportation construction, play a key role in effective investment, and fully support the expansion of domestic demand.
Improve the financial support innovation system, increase medium and long-term loans for the manufacturing industry, and better serve key core technology research enterprises and "specialized, special and innovative" small and medium-sized enterprises.
The second is to resolutely and effectively prevent financial risks.
Urge banking and insurance institutions to do a good job in risk research and judgment, strengthen risk management, and effectively respond to the impact of changes in the international economic and financial situation.
Further enrich the financial stability guarantee fund, give play to the active role of the insurance guarantee fund and the trust industry guarantee fund in risk disposal, and build a dense financial safety net.
The third is to actively promote the long-term healthy and stable development of the capital market.
Give full play to the advantages of long-term investment of insurance funds, and guide insurance institutions to allocate more funds to equity assets.
Expand the pilot program of exclusive commercial pension financial products, and continue to cultivate and expand the investor team of commercial pension financial institutions.
Our reporter Ouyang Jie Qu Xinming