Finance helps the economy operate within a reasonable range (authoritative interview)
Since this year, the China Banking and Insurance Regulatory Commission has strengthened regulatory guidance, deepened the reform and opening up of the banking and insurance industries, continued to improve the quality and efficiency of serving the real economy, and resolutely maintained the bottom line of preventing systemic financial risks. At present, my country's economic development environment is increasingly complex, severe, and uncertain. How can the China Banking and Insurance Regulatory Commission further guide the banking and insurance industries to increase and improve financial supply and increase support for the real economy? How to effectively prevent and resolve financial risks and maintain the safe and sound operation of the financial system? The reporter interviewed Liang Tao, member of the Party Committee and Vice Chairman of the China Banking and Insurance Regulatory Commission.
Increase and improve financial supply, and continue to increase support for the real economy.
Reporter: Since this year, what measures has the China Banking Regulatory Commission taken to guide the banking and insurance industries to serve the real economy? What are the results? In what ways will banking and insurance institutions increase their support for the real economy in the next step?
Liang Tao: The China Banking and Insurance Regulatory Commission guides the banking and insurance industries to further increase financial support for the real economy, continue to increase the total amount of credit, optimize the credit structure, reduce financing costs, and continue the policy of deferred principal and interest payments. In the first quarter of this year, manufacturing loans increased by 1.8 trillion yuan, 1.7 times the increase in the same period last year. The balance of inclusive small and micro enterprise loans was 20.6 trillion yuan, a year-on-year increase of 22.6%. The balance of high-tech industry loans exceeds 7 trillion yuan. The interest rates on newly issued corporate loans and inclusive small and micro enterprise loans in the first quarter dropped by more than 0.2 percentage points on average from the beginning of the year.
Currently, the downward pressure on the economy is increasing, and the banking and insurance industries are also encountering some difficulties in supporting the real economy. For example, enterprises in industries severely affected by the epidemic have unstable operating income and difficulty in repaying bank loans on time. Banking institutions are under great pressure to rebound non-performing loans; some enterprises mainly focus on maintaining existing liquidity and have little intention to add or expand financing. , effective financing demand is relatively shrinking, etc.
Facing new difficulties and challenges, the China Banking and Insurance Regulatory Commission will next guide the banking and insurance industries to increase and improve financial supply, and encourage large banks and other high-quality listed banks to release more credit resources. Establish and improve the long-term assessment mechanism for insurance funds, enrich the channels for insurance funds to participate in capital market investment, encourage insurance asset management companies to increase the issuance of portfolio insurance asset management products, guide more funds to be allocated to equity assets, and continue to increase investment in equity assets. The support for the real economy includes the following measures:
Effectively increase support for weak links. Guide banks to increase the proportion of first loans and credit loans in loans to small and micro enterprises and continue to reduce loan interest rates. Ensure stable growth of agricultural-related credit and actively develop first loans and credit loans for new agricultural business entities. Continue to standardize the development of the third pillar pension insurance and promote the improvement of health insurance services.
promotes the reduction of comprehensive financing costs for enterprises. Continue to standardize the charging behavior of banking institutions in credit, loan assistance, credit enhancement and assessment processes, and standardize the management of market-regulated prices for banking services. Credit assessment and review of continued financing should be carried out in advance to effectively reduce the company's capital turnover costs.
improves the level of financial services for new citizens. Guide banks and insurance institutions to increase credit support and insurance protection for new citizens in terms of entrepreneurship, employment, housing purchase and settlement, education and training, etc.
Implement financial bailout policies to support market entities in alleviating liquidity difficulties
Reporter: The state has introduced a package of bailout policies for industries and companies severely affected by the epidemic. How does the China Banking and Insurance Regulatory Commission guide the banking and insurance industries to implement relevant policies? Effective?
Liang Tao: Since the beginning of this year, the China Banking and Insurance Regulatory Commission has guided the banking and insurance industries to increase financial support for industries, small and medium-sized enterprises and individual industrial and commercial households that have been seriously affected by the epidemic. Banking and insurance institutions have implemented financial assistance policies to assist enterprises and proactively adopted precise and effective measures. Measures will be taken to support market entities in alleviating liquidity difficulties.
First, continue to increase loan support for small and micro enterprises and rural revitalization. Give full play to the counter-cyclical regulatory role of supervision and continue to clarify the goals of “two increases” in the growth rate of inclusive small and micro enterprise loans and the number of households. Among them, the new inclusive small and micro enterprise loans of state-owned large banks this year will reach 1.6 trillion yuan, and urban commercial Banks have significantly increased the proportion of inclusive small and micro enterprise loans.Banks are required to allocate credit resources to major grain-producing counties and 160 key national rural revitalization counties.
The second is to help struggling industries tide over the difficulties. Guide and urge banking and insurance institutions to proactively provide services in terms of loan credit, insurance claims, etc. to industries that are severely affected by the epidemic, such as catering, accommodation, retail, tourism and culture, and transportation, and increase the allocation of financial resources to industries in difficulty. Guide insurance institutions to provide insurance coverage for property losses caused by companies suspending work and production due to the epidemic, and profit losses caused by business interruption. Banks and insurance institutions are required to provide strong support for ensuring the smooth flow of freight logistics, provide flexible and convenient "green channel" services to transportation companies that bear heavy tasks of epidemic prevention and control and emergency transportation, and reasonably adjust truck drivers' car loans and personal housing mortgages. Waiting for repayment arrangement.
The third is to strengthen financial service guarantees for areas severely affected by the epidemic. Combined with local epidemic prevention and control requirements and changes in the epidemic situation, the local banking and insurance regulatory bureaus are guided to introduce more targeted relief measures to help enterprises according to local conditions, and coordinate to solve outstanding problems reported by local industries, enterprises and the public. For example, the Shanghai Banking and Insurance Regulatory Bureau has stepped up its efforts to promote loan renewals, improve the efficiency of loan renewal processing, support the seamless financing turnover of small and micro enterprises operating normally, and alleviate the pressure on working capital.
The banking and insurance industry maintains stable operation, and risks are generally controllable.
Reporter: With the current increase in international and domestic risk challenges, what impact will it have on the safe and stable operation of my country's banking and insurance industry? What next steps will be taken to effectively prevent possible risks?
Liang Tao: The current international situation is full of uncertainties, and the tightening policies of developed economies in Europe and the United States may put certain pressure on my country's cross-border capital flows and the RMB exchange rate. At the same time, the price of imported raw materials may also rise, putting pressure on the production and operation of small, medium and micro enterprises. Therefore, the safe and sound operation of the financial system is crucial to stabilizing the macroeconomic market.
The fundamentals of my country's economy, which is stable and improving in the long term, have not changed. The banking and insurance industries continue to operate steadily, and risks are generally controllable. In the first quarter, the non-performing loan rate in the banking industry was 1.79%, maintaining a reasonable level; banking institutions continued to increase their efforts in disposing of non-performing assets, disposing a total of nearly 600 billion yuan in the first quarter. The comprehensive solvency adequacy ratio and core solvency adequacy ratio of insurance companies have remained at a high level, and the overall risk resistance is strong.
At the same time, risks in key areas are at a controllable level. Real estate credit is generally stable, and real estate development loans have seen positive month-on-month growth for three consecutive months, meeting the reasonable financing needs of real estate in an orderly manner. The non-performing rate of real estate loans is significantly lower than that of all loans, and risks are generally controllable. Inclusive loans to small and micro enterprises continued to increase, expand in coverage, and reduce prices, and risks in related fields were also well controlled.
In the next step, the China Banking and Insurance Regulatory Commission will coordinate epidemic prevention and control and economic development, take the lead in implementing regulatory policies, and strive to stabilize the macroeconomic market.
First, increase financial support for the real economy. Continue to strengthen credit support and insurance protection for industries and small, medium and micro enterprises that have been greatly affected by the epidemic, support the smooth flow of freight and logistics, and ensure the safety and stability of industrial and supply chains. Optimize financial support for key consumption areas, improve financial service levels for new citizens, support highway transportation construction, play the key role of effective investment, and fully support the expansion of domestic demand. Improve the financial support innovation system, increase medium- and long-term loans to the manufacturing industry, and better serve key core technology enterprises and "specialized, special and innovative" small and medium-sized enterprises.
Second, we must resolutely and effectively prevent financial risks. Banking and insurance institutions are urged to do a good job in risk research and judgment, strengthen risk management, and effectively respond to the impact of changes in the international economic and financial situation. We will further enrich the financial stability guarantee fund, give full play to the active role of insurance guarantee funds and trust industry guarantee funds in risk disposal, and build a tight financial safety net.
The third is to actively promote the long-term, healthy and stable development of the capital market. Give full play to the long-term investment advantages of insurance funds and guide insurance institutions to allocate more funds to equity assets. Expand the pilot program of exclusive commercial pension financial products, and continue to cultivate and expand the investor team of commercial pension financial institutions.
Reporters Ouyang Jie and Qu Xinming
(People’s Daily)
