BEIJING, Feb. 15 (Xinhua)-Liang Tao, vice chairman of China Banking and Insurance Regulatory Commission, said on the 15th that China Banking and Insurance Regulatory Commission will increase its support for small and micro private enterprises in trouble. Focusing on the overall requirements of increment, expansion, price reduction and quality improvement, we will ensure that the overall credit growth of small and micro enterprises is not affected by the epidemic.
Data Map: Bank of China Insurance Regulatory Commission. China News Service reporter Jia Tianyong photo
The State Council held a press conference on the morning of 15th to deal with the joint prevention and control mechanism of pneumonia in novel coronavirus. A reporter asked: What policies or measures are there to support the enterprises that are greatly affected by the epidemic? What support measures are there for enterprises in non-key areas of epidemic prevention and control?
Liang Tao responded that since the outbreak of the epidemic, banking institutions have provided differentiated, targeted and preferential financial services to areas, industries and enterprises greatly affected by the epidemic, and given strong support through credit restructuring and reduction of overdue interest according to specific conditions, instead of blindly lending, cutting off loans and pressing loans. Many banks have introduced policies to reduce loan interest and waive relevant fees, especially to give great support to key enterprises in epidemic prevention and control. Recently, China Banking and Insurance Regulatory Commission has carried out serious research on the impact of the epidemic, and has also made good policy reserves. Some new measures will be introduced in the near future, not only for key industries affected by the epidemic, but also for various enterprises in various industries.
Liang Tao said that the next step is to do a good job in four aspects.
First, increase support for small and micro private enterprises trapped. The first is to focus on the overall requirements of increment, expansion, price reduction and quality improvement to ensure that the overall credit growth of small and micro enterprises is not affected by the epidemic. The second is to strive for the comprehensive financing cost of loans for inclusive small and micro enterprises this year to continue to decline on the basis of 2019. The third is to focus on the changes in financing needs of small and micro enterprises to cope with the epidemic and rationally optimize and simplify business processes. The fourth is to renew the loan more accurately. Everyone is more concerned about renewing loans and alleviating the liquidity pressure of trapped small and micro enterprises. Fifth, according to the needs of the epidemic, we should further implement the relevant systems of risk management and due diligence and exemption, and improve the enthusiasm of grassroots for lending. This issue is very important, and it will push the head office of the bank to moderately increase the tolerance of non-performing loans for branches seriously affected by the epidemic.
The second is to increase the credit guarantee and investment for the resumption of work and production in key areas. Guide financial institutions to further increase credit support for enterprises to resume work and production, further increase the proportion of enterprise credit loans and medium and long-term loans, and keep financing costs at a reasonable level. We will reasonably increase the loan support of working capital for the capital demand of purchasing raw materials and equipment that enterprises may face when they resume work and production. It is necessary to guide institutions to play the baton of performance appraisal, consider incorporating the support for the resumption of production in key areas such as manufacturing, small and micro enterprises and private enterprises into the evaluation index system in an appropriate way, or rationally adjust the evaluation weight to stimulate the enthusiasm of grassroots outlets and front-line business personnel.
The third is to accelerate the construction of a number of key projects. First of all, we should give better play to the countercyclical adjustment function of policy finance, speed up the pace of credit supply, reasonably increase the scale of RMB loans and bonds issued by policy financial institutions in 2020, optimize the regional credit structure, focus on major projects in key areas, and speed up the credit supply for a number of major projects. Second, study and use the recovered special construction funds to support major areas such as manufacturing, increase the intensity of new investment projects, and actively supply funds for projects under construction.
Fourth, efforts should be made to stabilize residents’ consumption and accelerate the release of potential demand. Urge banking institutions to take the initiative to accept the financial needs of services such as wholesale and retail, accommodation and catering, cultural tourism, transportation and logistics that are seriously affected by the epidemic, develop exclusive credit products, promote the upgrading and expansion of service consumption, expand the consumption of physical goods, enhance the scalability and convenience of services, and accelerate the release of new consumption potential.
In response to a reporter’s question, Xuan Changneng, deputy director of the foreign exchange bureau, said that the current epidemic prevention and control has entered a critical stage. According to the decision-making and deployment of the CPC Central Committee and the State Council, the joint prevention and control mechanism of the State Council has put forward clear requirements for effectively strengthening scientific epidemic prevention and control and doing a good job of enterprises’ resumption of work and production in an orderly manner. The foreign exchange bureau system will do a good job with a high sense of responsibility and mission, and provide strong support for enterprises to resume work and production and restore social and economic order.
First, open up a "green channel" for foreign exchange business, and efficiently and conveniently serve enterprises to resume work and production. For the overstocked trade and investment activities affected by the epidemic, the import and export of key materials needed by enterprises in the process of resuming production, and various foreign exchange businesses involved in expanding the supply of key epidemic prevention materials production and circulation enterprises, the foreign exchange bureau will guide banks to handle special affairs and emergencies quickly, simplify the handling procedures, speed up the handling, support the resumption of trade and investment activities as soon as possible, and strengthen support for Hubei and key industries and enterprises.
Second, we will speed up the implementation of the 12 trade and investment facilitation measures adopted by the the State Council Standing Committee, including six cross-border trade facilitation measures, such as expanding the pilot of trade foreign exchange receipts and payments, simplifying the procedures of goods receipts and payments of small and micro cross-border e-commerce enterprises, and optimizing the reporting methods of goods foreign exchange business, as well as six cross-border investment and financing facilitation measures, such as expanding the pilot of capital account income payment, reforming the registration and management of foreign debts of enterprises, and canceling the limit on the number of foreign exchange accounts opened in capital accounts. From the actual effect, since the introduction of these facilitation measures, the time and labor costs for enterprises to handle related businesses have been greatly reduced, cross-border trade investment and financing have become more convenient, the business environment has been further optimized, and trade investment and the development of the real economy have benefited. In the next step, combined with the current epidemic situation and the actual needs of returning to work and production, we will continue to accelerate the implementation of 12 facilitation measures, and focus on doing a good job in industries and enterprises seriously affected by the epidemic, especially private enterprises and small and medium-sized enterprises.
Third, supported by technical means, it is convenient for small and medium-sized enterprises to invest and finance cross-border trade and foreign exchange settlement. On the one hand, strengthen the construction of cross-border financial blockchain service platform to alleviate the financing difficulties and expensive financing problems of SMEs. In March last year, the foreign exchange bureau began the pilot work of the cross-border financial blockchain service platform. As of February 3 this year, the pilot scope has been expanded to 22 provinces, autonomous regions and municipalities, and more than 170 corporate banks have joined independently. The platform has completed financing and lending of 15.9 billion US dollars, and there are nearly 2,500 service enterprises, of which SMEs account for 75%. Since the Spring Festival holiday, the platform has completed a total of 171 financing loans with more than 200 million US dollars and 87 service enterprises. In particular, Hubei was included in the pilot platform in January this year, and foreign-related enterprises, especially small and medium-sized enterprises, under Hubei’s jurisdiction will also enjoy more preferential and convenient conditions in terms of financial and credit support such as export trade financing. On the other hand, we will continue to simplify the procedures of goods trade receipts and payments of small and micro cross-border e-commerce enterprises, further facilitate cross-border electronic commerce settlement, guide banks and payment institutions to provide electronic payment services under current account for market entities based on transaction electronic information, further facilitate cross-border e-commerce trade settlement of small and medium-sized enterprises, and improve the efficiency of fund settlement of small and medium-sized enterprises.
The fourth is to optimize foreign exchange business and handle convenience measures. The operation process of "Online Handling System for Government Affairs Services of the State Administration of Foreign Exchange" was issued to facilitate the public to handle foreign exchange administrative licensing through online channels.
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