Eight departments: strengthening financial support measures to help the private economy develop and grow.
Cctv newsAccording to the People’s Bank of China, in order to thoroughly implement the spirit of the 20th Party Congress and the requirements of the Central Financial Work Conference, fully implement the Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of Private Economy, adhere to the "Two Unswervings", guide financial institutions to establish the concept of "equal treatment", continuously strengthen financial services for private enterprises, and strive to ensure that financial support for private economy is compatible with the contribution of private economy to economic and social development. Relevant matters are hereby notified as follows.
First, continue to increase investment in credit resources to help the private economy develop and grow.
(1) Clarify the objectives and priorities of financial services for private enterprises.Banking financial institutions should set annual service targets for private enterprises, increase the weight of services related to private enterprises in performance appraisal, increase financial support for private enterprises, and gradually increase the proportion of loans for private enterprises. Improve the organizational structure and products and services that meet the financing needs of private enterprises, increase support for private enterprises in key areas such as scientific and technological innovation, "specialization and innovation", green and low carbon, and industrial base reconstruction projects, support technological transformation investment and project construction of private enterprises, actively meet the reasonable financial needs of private small and medium-sized enterprises, and optimize the credit structure. Reasonably improve the tolerance of non-performing loans of private enterprises, establish and improve the due diligence exemption mechanism for private enterprise loans, and fully protect the enthusiasm of grassroots exhibition industry personnel.
(two) increase the first loan, credit loan support.Banking financial institutions should actively carry out the action of cultivating and expanding the first loan customers, strengthen the docking cooperation with development and reform, industry management departments, federations of industry and commerce, and explore high-quality private enterprises with market, benefits, good credit and financing needs, formulate targeted comprehensive cultivation plans, and improve the financial acquisition rate of private enterprises. Strengthen scientific and technological empowerment, develop credit financing products suitable for private enterprises, promote the "credit-easy loan" model, give play to the role of national production integration as a platform, and continuously expand the scale of credit loans.
(3) Actively carry out financial services in the industrial chain and supply chain.Banking financial institutions should actively explore the mode of de-nuclear supply chain and support private small and medium-sized enterprises in the supply chain to carry out business such as order loans and warehouse receipt pledge loans. Further improve the function of the accounts receivable financing service platform and strengthen the application of the service platform. Promote the development of supply chain bill specification. In-depth implementation of the "one chain, one policy, one batch" financing promotion action for small and medium-sized enterprises, and support the financing of private small and medium-sized enterprises in key industrial chains, advanced manufacturing clusters and characteristic industrial clusters of small and medium-sized enterprises.
(four) take the initiative to do a good job in fund connection services.Encourage the lead bank and the lead bank of syndicated loans to actively play a leading and coordinating role. For private enterprises that encounter temporary difficulties but have market products, promising projects and competitive technologies, they should meet their financing needs in advance according to the principle of marketization, and do not blindly stop lending, pressure lending, draw loans or cut off loans. We will do a good job in implementing policies such as the Notice on Doing a Good Job in Financial Support for the Stable and Healthy Development of the Real Estate Market (Yinfa [2022] No.254), keep key financing channels such as credit and bonds stable, and reasonably meet the financial needs of private real estate enterprises.
(5) Do a good job in promoting development and preventing risks.Banking financial institutions should enhance the sustainability of serving private enterprises and operate prudently according to laws and regulations. Improve the credit risk management and control mechanism, strengthen the management of low-cost funds enjoying preferential policies, and strictly monitor the flow of funds. Strengthen the management of related party transactions and improve the ability of penetrating identification, monitoring and early warning of related party transactions.
Second, deepen the construction of the bond market system and smooth the bond financing channels for private enterprises.
(VI) Expanding the scale of bond financing for private enterprises.Support private enterprises to register and issue science and technology bills, science and technology bonds, stock-bond products, green bonds, carbon neutral bonds, transition bonds, etc., to further meet the capital needs of private enterprises in the fields of scientific and technological innovation, green and low carbon. Support private enterprises to issue asset-backed securities and promote the revitalization of existing assets. Optimize the registration mechanism of debt financing instruments for private enterprises, adopt "fast track" in the whole registration process, support shelf-type registration and issuance, and improve the convenience of financing services.
(7) Give full play to the role of private enterprise bond financing support tools.China Bond Credit Enhancement Investment Co., Ltd., China Securities Finance Co., Ltd. and market institutions are encouraged to promote the expansion and increment of private enterprise bond financing support tools and stabilize the stock by means of guaranteeing credit enhancement, creating credit risk mitigation tools and direct investment in accordance with the principles of marketization and rule of law.
(eight) increase investment in private enterprise bonds.Encourage and guide institutional investors such as commercial banks, insurance companies, various pensions and Public Offering of Fund to actively and scientifically allocate private enterprise bonds. Support private enterprises to buy back debt financing instruments issued by their own enterprises in a market-oriented way on the basis of complying with the norms of information disclosure, fair pricing and fair trade.
(9) Exploring the development of the high-yield bond market.Study and promote the construction of high-yield bond market, face the financing needs of small and medium-sized science and technology enterprises, build a special platform for high-yield bonds, design trading mechanisms and systems that meet the characteristics of high-yield, strengthen the cultivation of professional investors, and improve market liquidity.
Third, give full play to the role of multi-level capital market and expand the scale of equity financing of high-quality private enterprises.
(ten) to support private enterprises to go public for financing and mergers and acquisitions.We will promote the reform of the registration system, and vigorously support the issuance, listing and refinancing of private enterprises. Support qualified private enterprises to go public overseas, and make good use of two markets and two resources. Continue to deepen the market-oriented reform of mergers and acquisitions, study and optimize the "small and fast" review mechanism of mergers and acquisitions, and support private enterprises to improve quality and efficiency and become bigger and stronger through mergers and acquisitions.
(eleven) to strengthen the regional equity market support services for private enterprises.Promote the regional equity market to highlight the positioning of the private equity market, steadily expand innovative business pilots such as private equity fund share transfer and stock option comprehensive services, and enhance the enthusiasm of private equity funds and securities service institutions to participate in the regional equity market. Support insurance, trust and other institutions and asset management products to invest in key construction projects of private enterprises and the equity of unlisted enterprises on the premise of legal compliance, controllable risks and voluntary business.
(12) Give play to the role of equity investment funds in supporting the financing of private enterprises.Give play to the guiding role of government funds and support more social capital to invest in key industries and private enterprises in key areas. Actively cultivate early investment forces such as angel investment and venture capital, and increase investment in private small and medium-sized enterprises in the initial stage. Improve the investment exit mechanism, and optimize the institutional arrangement of the reverse linkage between the release period of the listing of enterprises invested by venture capital funds and the investment period. Effectively implement the due diligence exemption mechanism of state-owned venture capital institutions.
Fourth, increase the supply of foreign exchange facilitation policies and services, and support private enterprises to "go global" and "bring in"
(thirteen) to improve the level of current account revenue and expenditure facilitation.Encourage banking financial institutions to carry out cross-border RMB "first account" expansion actions. Support banking financial institutions to provide convenience services for foreign exchange receipts and payments for more high-quality private enterprises, and improve the efficiency of cross-border settlement of funds. Support banking financial institutions to make overall use of local and foreign currency settlement policies, and provide quality trade facilitation services for new trade formats such as cross-border e-commerce.
(14) Improve cross-border investment and financing facilitation policies.Optimize the management of the use of foreign exchange accounts and capital account funds, improve the policy of facilitating the payment and settlement of foreign exchange in capital account income, and support qualified banking financial institutions to carry out digital services in capital account. Expand the pilot scope of cross-border financing facilitation for high-tech and "specialized and innovative" SMEs. Support qualified private enterprises to carry out pilot projects of integrated local and foreign currency fund pool business of multinational companies, and facilitate private enterprises to coordinate the transfer and use of domestic and foreign funds. We will expand the pilot scope of domestic reinvestment registration-free for foreign-funded enterprises in an orderly manner, and improve the convenience level of equity investment in foreign-funded enterprises and the efficiency of private enterprises in utilizing foreign capital. Support cross-border equity investment funds to invest in high-quality private enterprises.
(15) Optimize the special services of cross-border finance and foreign exchange.Encourage banking financial institutions to improve the exchange rate risk management service system and working mechanism, strengthen the multi-party linkage cooperation between government, banks and enterprises, and reduce the foreign exchange hedging cost of private small and medium-sized enterprises. Continue to innovate the application scenarios of cross-border financial service platforms, expand the coverage, and provide online and convenient financing and settlement services for private enterprises.
Fifth, strengthen positive incentives and enhance the enthusiasm of financial institutions to serve the private economy.
(sixteen) increase the support of monetary policy tools.We will continue to implement various monetary policy tools and support banking financial institutions to increase credit supply to private enterprises in key areas. Make good use of the amount of refinancing for supporting agriculture, transfer the preferential interest rate of refinancing to private small and micro enterprises, and reduce the financing cost of private small and micro enterprises.
(seventeen) to strengthen financial incentives and insurance protection.Optimize the policy of business guarantee loan, simplify the handling process and promote the online business model. Give play to the role of the insurance compensation mechanism for the first (set) of major technical equipment and key new materials. We will steadily expand the coverage of export credit insurance under the premise of controllable risks.
(eighteen) to broaden the sources of funds for banking financial institutions.Support banking financial institutions to issue financial bonds, and raise funds to issue loans to private enterprises. For banking financial institutions that have great support for private enterprises, on the premise of meeting the conditions for issuing bonds, priority is given to supporting the issuance of various capital instruments to supplement capital.
Sixth, optimize the financing supporting policies and enhance the financial carrying capacity of the private economy.
(nineteen) improve the credit incentive and restraint mechanism.Improve the credit information sharing mechanism of private enterprises, and improve the credit rating and evaluation system of small and medium-sized enterprises and individual industrial and commercial households. Promote the credit information of enterprises such as hydropower, industry and commerce, taxation, government subsidies, etc. to be open to banking financial institutions under the premise of compliance with laws and regulations, and alleviate information asymmetry. Improve the credit repair mechanism after the dishonesty is corrected.
(twenty) improve the risk sharing and compensation mechanism.Give play to the leading role of the national financing guarantee fund system, stabilize the scale of re-guarantee business, guide government financing guarantee institutions at all levels to reasonably determine the guarantee rate, actively cultivate private enterprises’ "first-guarantee households", and increase financing credit support for private small and micro enterprises. Establish a risk compensation mechanism for national financing guarantee funds, encourage qualified places to improve the capital replenishment and risk compensation mechanism of government financing guarantee institutions, and further enhance the role of government financing guarantee institutions in credit enhancement and risk separation.
(twenty-one) improve the credit constraint mechanism of the bill market.Support private enterprises to use bills for financing more conveniently, strengthen the protection of private enterprises to use bills, and restrict the untrustworthy enterprises whose bills continue to be overdue to carry out bill business, so as to better prevent the debts owed to private enterprises. Guide the bill market infrastructure to optimize the system functions, facilitate enterprises to inquire about the results of bill information disclosure, and more effectively identify and evaluate related credit risks.
(22) Strengthen the confirmation of accounts receivable.Encourage institutions, institutions, large enterprises and other accounts receivable payers to confirm the creditor-debtor relationship in time after the small and medium-sized enterprises make a request for confirmation. Encourage local governments to actively take various measures to increase the power of confirming accounts receivable of small and micro enterprises within their jurisdiction and improve the financing efficiency of accounts receivable. Promote the core enterprises, government departments and financial institutions to strengthen the docking with the accounts receivable financing service platform, confirm the accounts in time through the service platform, and alleviate the problems of core enterprises, government departments and financial institutions.
(twenty-three) increase tax policy support.To implement the tax policy of assets paid in kind, and if banking financial institutions cannot obtain input invoices when disposing of assets paid in kind, it is allowed to apply the difference value-added tax policy according to the current regulations, and reduce the deed tax and stamp duty in the receiving and disposal links according to the current regulations. Promote the implementation of the management system for write-off of bad debts of financial enterprises and further support banking financial institutions to speed up the disposal of non-performing assets.
Seven, strengthen the organization and implementation of security.
(24) Strengthen publicity and interpretation.Financial institutions should actively carry out publicity and interpretation, enrich publicity forms, increase publicity frequency and expand publicity scope, and actively push information on financial support policies, financial products and services to private enterprises. Development and reform, industry management departments, and the Federation of Industry and Commerce guide private enterprises to operate in compliance with laws and regulations, cherish business reputation and credit records, and prevent and resolve risks through training.
(twenty-five) to strengthen the implementation of work.Local financial management, development and reform, industry and information, finance and taxation, Federation of Industry and Commerce and other departments strengthen communication and coordination, promote the resolution of blocking points and difficult issues in policy implementation, strengthen policy supervision, sort out and summarize typical experiences, strengthen publicity and promotion, and enhance policy effectiveness. Further improve statistical monitoring and strengthen policy effect evaluation. The Federation of Industry and Commerce should play a good role as a bridge and assistant, establish a directory of high-quality private enterprises, accurately push them to financial institutions in a timely manner, and strengthen communication between banks and enterprises. All financial institutions should fulfill their main responsibilities, formulate specific implementation rules and speed up the implementation of policies.


























