June 06, 2023 09:47:16
Source: Heilongjiang Daily
Author: Cheng Yao
□ Our reporter Cheng Yao
“Hatou Ha Petrochemical Waste Heat Warming Residents Project” received 80 million yuan of financial support from financial institutions during the construction period to complete the project smoothly. “One word to describe the financial institutions’ support to us is ‘supplying charcoal in the snow’.” A few days ago, Huang Hongyu, chairman of Huare Energy Company, the investor of the project, said excitedly.
The reporter learned from the Harbin Central Sub-branch of the People’s Bank of China that in the first quarter of this year, by giving full play to the dual functions of monetary policy tools and structure, increasing credit policy guidance, and guiding credit funds to key areas and weak links, the province’s financial institutions credit Steady growth, steady optimization of structure, and steady price decline have provided strong financial support for the overall improvement of Longjiang’s real economy.
Strengthen policies to guide stable credit growth
In order to stabilize the total amount of credit, the Kazakh branch of the People’s Bank of China formulated and issued the “Notice on Thoroughly Implementing Several Measures to Promote the Improvement of the Province’s Economic Operation and Do a Good Job in Stabilizing Credit Growth” to guide the province’s financial institutions to play a good role in the recovery and growth of Longjiang’s economy credit support. In the first quarter, the province’s domestic and foreign currency loans increased by 123.99 billion yuan, an increase of 27.45 billion yuan year-on-year, and the increment hit a record high in the same period of time.
In terms of strengthening financial services for rural revitalization, six departments including the Kazakh Central Branch of the People’s Bank of China and the Provincial Department of Agriculture and Rural Affairs jointly formulated the “Opinions on Establishing Heilongjiang Province’s Financial Support for Rural Revitalization Pioneering Pilot Areas”, adopting “points to areas, forming experience, and comprehensive Provincial promotion” method, to carry out financial support for rural revitalization first and first. Promote the preparation of spring plowing production financial services, organize banking institutions to hold more than 10 spring plowing work promotion meetings, and go to the grassroots level for more than 100 times. In the first quarter, the province’s financial institutions issued a total of 141.59 billion yuan in spring plowing loans, a year-on-year increase of 21%.
In order to promote medium and long-term loans for the manufacturing industry in our province, the Central Branch of the People’s Bank of Kazakhstan and the Provincial Development and Reform Commission have established a normalized docking mechanism to actively provide high-quality financial services for manufacturing companies. The Ministry of Industry and Information Technology of the United Province organized financial institutions to connect with 212 industrial enterprises above the designated size and 483 key industrial revitalization projects, and realized loans of 5.6 billion yuan. As of the end of March this year, the province’s manufacturing medium and long-term loan balance was 81.81 billion yuan, an increase of 19.3% year-on-year; an increase of 1.32 billion yuan year-on-year in the first quarter. Among them, 29 technological transformation projects received 1.25 billion yuan in equipment renewal and transformation loans.
Making Good Use of Currency Instruments and Steadily Optimizing the Structure
In order to optimize the credit structure, the financial management department of our province insists on giving full play to the leading and stimulating role of monetary policy tools, seizes the periodical monetary policy tool window period, injects low-cost funds into financial institutions, and helps the province’s economy stabilize and maintain rapid growth. In the first quarter, the province accumulatively issued 13.71 billion yuan in re-loans and re-discounts, providing low-cost financial support for more than 13,000 agricultural-related entities and private small and micro enterprises; issued 22.67 million yuan of inclusive small and micro loan support tools to stimulate Inclusive loans to small and micro enterprises increased by 1.29 billion yuan; carbon emission reduction support tools were issued and special re-loans to support the clean and efficient use of coal were 6.18 billion yuan, supporting 150 green projects and 19 traditional energy companies to achieve green transformation and upgrading.
In order to strengthen financial support for green and low-carbon industries, financial institutions in our province actively strengthen communication and cooperation with industry authorities, collect the list of financing needs of key green manufacturing enterprises and green parks, and fully rely on the “Longjiang Green Gold Cloud Service Platform” to realize government-bank-enterprise financing. Multi-level, multi-field efficient docking. In the first quarter of this year, the province’s financial institutions issued a total of 3.64 billion yuan in loans to 115 green enterprises. As of the end of March, the province’s green loan balance was 154.43 billion yuan, a year-on-year increase of 21.7%.
At the same time, under the guidance of the People’s Bank of China, financial institutions in our province actively promote the development of cultural tourism, technology and strategic emerging industries. As of the end of March, the province’s cultural tourism, technology and strategic emerging industries had a loan balance of 66.53 billion yuan, a year-on-year increase of 9.7%. Among them, technology enterprise loans increased by 10.1% year-on-year.
Supporting the real economy and stabilizing prices
In Harbin Textile Market, Li Xiangrong and his wife have been running their own fabric store for more than 20 years. The couple wanted to expand two more stores, but the rising costs of raw materials, logistics, and storefronts made the original start-up funds insufficient. When the two were at a loss, the “Zhang Fuqing Party Member Commando” of the Harbin Xinyang Branch of the Construction Bank appeared in the market and recommended an inclusive financial loan product with a particularly suitable interest rate for them.
In order to fully meet the financing needs of small and micro enterprises and entrepreneurship and employment, our province has formulated a key work plan for financial services for small and micro enterprises, arranged and implemented 13 work measures, and further strengthened the support of first loan, renewal loan and credit loan. As of the end of March, the province’s balance of inclusive small and micro loans was 185.27 billion yuan, a year-on-year increase of 17.8%. In the first quarter, a total of 8,162 inclusive small and micro enterprises were cultivated for the first loan; 2,574 inclusive small and micro enterprises were provided with loan deferred repayment support, involving a loan amount of 2.49 billion yuan. Intensify the implementation of business guarantee loans, and promote local governments to expand the coverage of policies by organizing and holding promotion meetings. In the first quarter, 410 million yuan of business guarantee loans were issued, a year-on-year increase of 78.3%.
In order to promote the steady decline of the financing cost of the real economy, the Kazakh branch of the People’s Bank of China actively guides financial institutions in our province to speed up the construction of pricing mechanisms, increase the depth and breadth of LPR application, and improve the efficiency of interest rate policy transmission. By giving play to the incentive role of interest rate pricing behavior assessment, banks are encouraged to actively adjust their deposit structure and stabilize the cost of liabilities. In the first quarter, the weighted average interest rate of new general loans issued by financial institutions in the province was 4.3%, a year-on-year decrease of 0.8 percentage points, saving about 2.13 billion yuan in interest expenses for market players. Among them, the weighted average interest rate of small and micro enterprise loans under the newly issued inclusive caliber was 5.1%, a year-on-year decrease of 0.5 percentage points.