Finance and finance are the two major policy tools for regulating economic and social development. Recently, the General Office of the Chongqing Municipal Government issued the "Notice on Strengthening Fiscal and Financial Linkage to Support the Development of the Real Economy" (hereinafter referred to as the "Notice"), which focuses on "supporting the development of inclusive finance, supporting financial services for rural revitalization, supporting financial services for technological innovation, and supporting 27 measures have been launched in five aspects: "key areas of financial services and supporting high-quality development of the financial industry".
How does Chongqing promote the implementation of fiscal and financial linkage? On August 12, a press conference on the interpretation of Chongqing’s fiscal and financial linkage policy was held, and the heads of relevant departments gave a detailed interpretation of this policy.
conference site. Photo by Li Congchong
Highlight synergy and linkage
Enhance policy "combination punch" effect
Why should we promote financial linkage? Tang Feng, a member of the Party Leadership Group and Second-level Inspector of the Chongqing Municipal Finance Bureau, introduced that the purpose of promoting financial linkage is mainly to improve the performance of fiscal investment, enhance financial supply capabilities, and use fiscal "small funds" to leverage more financial "big resources." Use fiscal policy to increase the impetus for developing the real economy.
Tang Feng introduced relevant policies. Photo by Li Congchong
According to reports, the most prominent problem in the current economic situation is that the cash flow of a large number of enterprises under the impact of the epidemic, especially small and micro enterprises and individual industrial and commercial households, is relatively tight, which requires public finance to play a counter-cyclical and inter-cyclical adjustment role. , through the precise drip-feeding of fiscal policies, financial institutions can increase credit extension, use more precise fiscal and financial policies to improve the effectiveness of bailing out companies, and boost the confidence of market entities with better-quality fiscal and financial services.
Tang Feng said that the fiscal and financial linkage policies introduced this time are, first, aimed at the word "people" and strive to promote employment and entrepreneurship of key groups; second, centered around the word "introduction", efforts are made to promote the transformation and upgrading of traditional industries; third, Emphasis on the word "he" and strive to promote the development and growth of emerging industries.
On the basis of improving the policy, the "Notice" also emphasizes integrated upgrades. Chongqing has come up with specific policy measures in line with the strategic tasks of building the Chengdu-Chongqing twin-city economic circle, combined with Chongqing's "14th Five-Year Plan" and the long-term goals for 2035. In terms of specific implementation, collaborative linkage is highlighted, led by the Municipal Finance Bureau, together with the Municipal Financial Supervision Bureau, the Chongqing Business Management Department of the People's Bank of China, Chongqing Banking and Insurance Regulatory Bureau and other financial management departments and industry departments, which is conducive to strengthening the policy's " Combination punch" effect.
Combine a variety of fiscal policy tools
Guide financial institutions to jointly serve the real economy
How to mobilize and guide financial institutions to jointly serve the real economy to promote fiscal linkage? It is reported that Chongqing has combined a variety of fiscal policy tools and adopted methods such as overall optimization, efficiency improvement, and innovative breakthroughs to mobilize and guide financial institutions to jointly serve the real economy. In terms of the main methods of linkage:
improves fund investment policies, changes "supply" to "investment", uses a market-oriented approach to promote the agglomeration of factors, promote industrial transformation and upgrading, and allow companies to "raise well." For example, the Chongqing Industrial Investment Fund was integrated and established to focus on major strategies, key industries and scientific and technological innovation cultivation projects to promote the city's industrial transformation and upgrading and technological innovation. Another example is the equity investment incentives, with the maximum reward amount of 10 million yuan, further attracting various market-oriented funds to invest early in small investment technology in Chongqing, supporting enterprises to shift from "blood transfusion" to "blood production".
improves risk compensation policies and focuses on credit enhancement and insurance subsidy to alleviate the problems of insufficient mortgages and loan restrictions for small and micro enterprises, "agriculture, rural areas and farmers", technological innovation and other market entities, allowing enterprises to "get loans". For example, the rural property rights mortgage and pledge financing risk compensation is implemented, and 14 types of mortgage and pledge loans, such as "three rights" mortgages, small credit loans for farmers, and large and medium-sized agricultural machinery and equipment, are included in the scope of compensation. The amount of the loan principal loss will be 35% for the handled The bank provides risk compensation of up to 3.5 million yuan for a single transaction. Another example is to improve the risk compensation mechanism for financing guarantees for small and micro enterprises, and provide guarantee institutions with up to 40% of the risk compensation for eligible financing guarantees to support small and rural areas, so as to alleviate the worries of guarantee institutions and enhance the initiative of guarantees.
By improving the loan interest discount policy, we will guide cost reduction and increase efficiency, reduce the burden on market entities in areas such as entrepreneurship and employment, carbon emission reduction, agricultural product processing and production, ethnic trade development, cultural tourism development, etc., so that enterprises can "afford loans". For example, the coverage of entrepreneurial guaranteed loan policies will be expanded. Based on the original policy, we will focus on stabilizing employment and protecting people's livelihood. Small and micro enterprises that will stabilize more than 95% of their jobs this year will be given a periodic interest discount of no more than 1%; after subsidies, enterprises can Enjoy low-interest entrepreneurial guaranteed loans of 2.2%-3.2%. Another example is the implementation of loan interest discounts for cultural and tourism enterprises in difficulty. For cultural and tourism enterprises severely affected by the epidemic, interest discounts shall not exceed 30% of the LPR for the same period to help enterprises tide over difficulties.
Support the listing of enterprises and refinancing in the capital market
Provide hierarchical and phased rewards
In terms of "supporting high-quality development of the financial industry", the "Notice" proposes to support the listing of enterprises and the refinancing of the capital market, etc. measures. Lei Chi, a member of the Party Committee of the Municipal Financial Supervision Bureau, said, "The issuance of this "Notice" to provide financial incentives for companies to go public and refinance equity is also one of our series of policy measures to promote listing work."
Lei Chi answered the scene Ask questions. Photo by Li Congchong
According to reports, Chongqing has 5 new listed companies this year, 6 companies that are expected to be issued this year, 9 new companies that are in the queue for review, and 7 new companies that have been tutored and registered. The number has reached a new high for the same period in the past. ; Among them, the listing of and companies on the Science and Technology Innovation Board has made positive breakthroughs, with one new company waiting to be launched and two companies lined up for review. Since the beginning of this year, IPO and refinancing have reached 28.84 billion yuan, a year-on-year increase of 94.6%.
Lei Chi introduced that in terms of supporting companies to go public, the Municipal Financial Supervision Bureau has adopted a layered and staged approach to reward companies based on the actual development of my country's multi-level capital market.
Among them, in terms of supporting the listing of enterprises, firstly, a reward of 500,000 yuan will be given to enterprises that are listed on the Chongqing Stock Exchange Center and complete the joint-stock reform . The second is to give enterprises listed on the National Equities Exchange and Quotations System a reward of up to 1.5 million yuan according to the basic layer and innovation layer. The third is to provide incentives of up to 8 million yuan in four stages to companies listed on domestic and foreign stock exchanges.
In terms of supporting the equity refinancing of listed or listed companies, for technology companies listed on the Chongqing Stock Exchange Center and " specialized, special and new " companies that carry out equity financing for the first time, the net financing amount will be 1% will give a maximum reward of 500,000 yuan. For equity refinancing of listed companies, a reward of up to 1 million yuan will be given based on 5‰ of the net financing amount. For listed companies that carry out mergers and acquisitions transactions, a reward of up to 1 million yuan will be given based on 5‰ of the actual transaction volume.
Strengthen fiscal and financial linkage for weak links and key areas
Further improve the quality and efficiency of financial services for the real economy
It is worth mentioning that the "Notice" also focuses on "supporting the development of inclusive finance", "supporting financial services for rural revitalization" and "supporting financial services Specific implementation support measures have been proposed in terms of "technological innovation" and "supporting key areas of financial services".
The Chongqing Business Management Department of the People's Bank of China, under the framework of fiscal and financial linkage support at the urban and municipal levels, has launched a number of fiscal and financial interactive measures focusing on key areas and weak links of the national economy such as technological innovation, green development, inclusive small and micro businesses, and manufacturing.
Wei Haibin, member of the Party Committee and Deputy Director of the Chongqing Business Management Department of the People's Bank of China, said that through fiscal and financial interactive measures, the availability and convenience of loans for private small and micro enterprises and individual industrial and commercial households have been effectively improved, providing current financial support to stabilize the economy. and provide strong support to enhance the ability of financial services to serve the real economy and promote the high-quality development of the real economy.
Wei Haibin answered questions on the spot. Photo by Li Congchong
For example, in terms of supporting inclusive small and micro enterprises, the Chongqing Business Management Department of the People's Bank of China, in conjunction with the Municipal Finance Bureau, continues to optimize the entrepreneurial guaranteed loan policy, guides districts and counties to in-depth create inclusive financial demonstration zones, comprehensively promotes the construction of financial service harbors, and promotes inclusive finance. Small and micro loans are “increasing in volume, expanding in coverage, and falling in price.”At the end of June, the city's inclusive RMB small and micro loan balance was 432.93 billion yuan, a year-on-year growth of 23.3%.
In terms of supporting rural revitalization, the Chongqing Business Management Department of the People's Bank of China and the Municipal Finance Bureau jointly launched "Re-loan + Rural Revitalization Youth Loan", introduced agricultural financing guarantee and risk compensation mechanism, and created "Re-loan + fiscal discount + risk compensation + guarantee The six-in-one model of "credit enhancement + bank preferential loans + rural credit system guarantee" provides credit support for young people who are involved in rural revitalization and agricultural and rural modernization development. At the end of June, 497 million yuan in rural revitalization youth loans had been issued to support 1,333 business entities such as young leaders in rural revitalization.
In terms of supporting the development of the manufacturing industry and technological innovation, the Chongqing Business Management Department of the People's Bank of China, together with relevant departments, continues to promote the knowledge value and commercial value credit loan policy, launches a pilot program of mortgage value-added loans for the manufacturing industry, and promotes the receivables of upstream and downstream enterprises relying on the Zhongzheng platform. Core enterprises in account financing will be rewarded. At the end of June, the growth rates of medium- and long-term loans for the city's manufacturing industry and off-balance sheet and off-balance sheet financing for technology enterprises were 19.4% and 14.5% respectively, which were 10.8 and 5.9 percentage points higher than the city's various loan growth rates.
He Tao, member of the Party Committee, Deputy Director and Spokesperson of the Chongqing Banking and Insurance Regulatory Bureau, introduced that since this year, the Chongqing Banking and Insurance Regulatory Bureau has issued "Several Financial Direct Work Measures to "Stabilize Enterprises and Guarantee Employment"" and "Several Financial Support Policies to Stabilize the Economic Market" A package of systems such as "Measures to Stabilize the Market, Promote Consumption and Assist the Construction of International Consumption Center Cities" and other measures will safeguard the sustained recovery and high-quality development of the economy.
He Tao introduced relevant systems. Photo by Li Congchong
In order to strongly support the development of the real economy, the Chongqing Banking and Insurance Regulatory Bureau has also implemented the "four major actions" to stabilize the chain, stabilize the main body and safeguard employment, stabilize consumption and safeguard people's livelihood, and stabilize agriculture, rural areas and ensure jobs, effectively docking the city's key projects and key projects. list of enterprises; took the lead in formulating the "Implementation Rules for Financial Support for New Citizens to Live and Work in Peace and Contentment", issued the country's first high-quality development guidance for inclusive insurance; continued to promote the implementation of policies to assist enterprises, as of the end of June, the city's banking financial institutions had new A total of more than 107,000 sub-market entities have implemented deferred principal and interest payments, involving a loan amount of 71.023 billion yuan. (Zhang Rui)
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