Private enterprise financing welcomes policy benefits

2023-09-21

Private enterprise financial services have made new progress. The recent promotion meeting on financial support for the development of private enterprises revealed that the financial management department is studying and formulating policies to further support private enterprises, mainly by increasing investment in financial resources, leveraging the role of multi-level capital markets, and facilitating cross-border financing. Several targeted measures have been proposed. Increasing resource investment in providing financial services to private enterprises can further stimulate their resilience and vitality, and provide strong support for building a new development pattern and achieving high-quality development. "Pan Gongsheng, Secretary and President of the Party Committee of the People's Bank of China, stated that it is necessary to continue to increase investment in financial resource elements and treat all types of ownership enterprises fairly and fairly. Further increase credit investment for private enterprises in key areas such as technological innovation, "specialization, refinement, and innovation", and green and low-carbon, and smooth financing channels for private enterprises' stocks, bonds, and loans. Pan Gongsheng stated that in terms of loans, monetary policy tools such as re lending and discounting will be implemented well, guiding financial institutions to strengthen docking and visits, promoting innovation in financial products and services, and continuously increasing credit investment to private enterprises. In terms of bonds, we will promote the expansion and increment of private enterprise bond financing support tools, and expand the scale of private enterprise bond financing. Encourage and guide institutional investors to allocate private enterprise bonds. In terms of equity, we will support private enterprises to go public and refinance, actively leverage the role of local government special guidance funds, and improve investment exit mechanisms. Zhou Liang, Deputy Director of the State Administration of Financial Regulation, introduced that the State Administration of Financial Regulation supervises all banks and insurance institutions to treat all types of ownership enterprises equally, improves the long-term mechanism of "daring to lend, willing to lend, and able to lend", increases credit support for private enterprises, strives to reduce financing costs for private enterprises, plays the role of insurance protection, enriches financial products that meet the needs of private enterprises, and vigorously improves the convenience of financial services for private enterprises, Create a better financial environment for the development and growth of the private economy. The China Securities Regulatory Commission will promote the deepening and implementation of the registration system reform, improve the functions of the capital market, and further play the important role of the capital market in supporting the financing and growth of private enterprises. Wang Jianjun, Vice Chairman of the China Securities Regulatory Commission, stated that he will support eligible private enterprises to go public for financing and refinancing, and optimize the "small and fast" review mechanism for mergers and acquisitions. Support securities companies to increase their support for private enterprise services, encourage participation in private enterprise equity financing support tools, and increase financing channels for private enterprises through private equity management plans. Deeply implement the special support plan and tools for private enterprise bond financing. By comprehensively utilizing various tools such as stocks and bonds, we can prudently respond to and prevent risks in private real estate enterprises. In recent years, with the strong support of the financial system, the benefits of financial inclusion have been continuously expanding, and the sense of gain for private enterprises has been continuously improving. All departments should deeply 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", and solidly promote the implementation and effectiveness of various policies. "Gao Yunlong, Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference and Chairman of the All China Federation of Industry and Commerce, said that the Federation of Industry and Commerce will actively provide guidance and services, deeply implement the strategic cooperation agreements signed with relevant financial institutions, build a communication and docking platform between banks and enterprises, and strengthen education and training for private enterprises, Create favorable conditions for private enterprise financing. Strengthen financing protection this time

Edit:Hou Wenzhe    Responsible editor:WeiZe

Source:economic daily

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