Home Business People’s Bank of China: Appropriately improve risk tolerance and increase manufacturing medium and long-term loans

People’s Bank of China: Appropriately improve risk tolerance and increase manufacturing medium and long-term loans

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On November 23, the State Council Information Office held a regular policy briefing to introduce the situation regarding the strengthening of assistance to small and medium-sized enterprises.Chinese peopleBankZou Lan, Director of the Department of Financial Markets, said at the meeting that the financial sector will continue to deepen the financial supply-side structural reforms in the next phase, promote financial institutions to improve the allocation of internal resources, strengthen external incentives and constraints, and put the service of the real economy in a more prominent position. Guide financial institutions to invest more resources in key areas of the real economy such as manufacturing, small and micro enterprises, and green development.

How to ensure that financial resources continue to flow to these key areas of the real economy?Zou Lan said that he will continue to use a variety ofcurrencyPolicy tools to maintain reasonable and sufficient liquidity and deepeninterest rateMarket-oriented reforms, perfect marketizationinterest rateForm and conduct mechanisms, continue to release the effectiveness of LPR reforms, promote the steady and moderate reduction of the comprehensive financing costs of enterprises, and strengthen support for small and medium-sized enterprises and other key areas of the real economy.

At the same time, increase financial support for technological innovation and manufacturing. Zou Lan said that the financial support system for technological innovation should be improved, financing support for major national technological innovation tasks should be provided, and financial service capabilities for technological innovation should be promoted.Give full play to the role of macro-prudential assessment and incentives to promoteBankIndustrial financial institutions separately list the scale of loans for technological innovation and technological transformation in the manufacturing industry, implement preferential internal fund transfer prices, appropriately increase risk tolerance, and increase mid- and long-term loans for manufacturing.

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Zou Lan said that it will promote the effective implementation of carbon emission reduction support tools and special re-lending for the clean and efficient use of coal. Guide financial institutions to timely meet the reasonable financing needs of eligible coal-fired power and coal companies, provide preferential interest rate financing for key projects with significant carbon emission reduction effects, give full play to the role of special re-lending to support the clean and efficient use of coal, and strive to improve the clean and efficient use of coal level. On the basis of ensuring national energy security, we will effectively reduce carbon emissions by improving efficiency.

Zou Lan said that to strengthen coordination and cooperation between departments, it is necessary to give full play to the supporting and guiding role of fiscal policies on financial resources, promote the improvement of loan interest discount and risk compensation mechanisms, speed up the sharing of credit information for small, medium and micro enterprises, optimize the functions of local financing service platforms, and improve information Sharing quality and efficiency, alleviating bank-enterprise information asymmetry, and improving the availability of financing for small, medium and micro enterprises.

Since the beginning of this year, the financing of small and micro enterprises has continued to maintain a good momentum of “increasing volume, expanding coverage, and falling prices”. According to Zou Lan, in terms of total amount, at the end of October, the balance of inclusive small and micro loans was 18.6 trillion yuan, a year-on-year increase of 26.7%. In terms of coverage, at the end of October, inclusive small and micro loans supported 42.17 million small and micro business entities, a year-on-year increase of 34.1%. From the perspective of loan interest rates, on the basis of the sharp decline in 2020, the weighted average interest rate of new inclusive small and micro enterprise loans issued in October was 4.94%, which was 0.14 percentage points lower than in December 2020.

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In response to the many difficulties faced by small, medium and micro enterprises recently, Zou Lan said that the peopleBankIt will focus on continuing to promote related work from three aspects, including making good use of the newly increased 300 billion small refinancing line, coordinating policy support and capital continuation after the expiration of the two tools, and in-depth development of the financial service capabilities of small, medium and micro enterprises. Engineering etc.

(Source: Shanghai Securities News)

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