On 5 july, journalists were informed on the website of the people's bank of china that, in order to further enhance the financial services capacity of banking financial institutions for small and medium-sized enterprises (including individual entrepreneurs), to strengthen the long-term mechanisms for “gold loans, loans, loans and loans” and to promote financial services to better serve the real economy at a new stage of development, the people's bank had recently issued a circular on furthering the improvement of the capacity of financial services for small and medium-sized enterprises (hereinafter referred to as the circular). The circular sets out specific requirements for upgrading the financial services capacity of msmes in areas such as the promotion of incremental expansion of msme financing, continuous optimization of internal bank policy arrangements, full application of scientific and technological instruments, effective upgrading of lending pricing capacity, and investment in improved financing services and supporting mechanisms。
The circular calls for increased credit lending to msmes, the optimization of credit product services to individual business owners and the expansion of the coverage of inclusive financial services. Banking institutions need to increase their investment in inclusive finance and technology, innovate their specialty credit products, develop and continuously improve loan products such as non-repayable loans and loans on loan, improve ease of use and reduce the combined financial costs of msme financing. Financing support is provided for micro, small and medium-sized enterprises up and down the supply chain, based on a platform of accounts receivable financing services from the people's bank call centre。
The circular emphasizes that banking financial institutions are required to incorporate interest rates on loan market quotations into the internal pricing and transmission chain, to improve the differential and fine-tuning pricing of loans and to strengthen the capacity to manage the cost of liabilities. The various branches of the people's bank are to establish a sound institutional interface between government and finance, accelerate the sharing of credit among msmes, conduct policy-oriented impact assessments of msmes, further optimize the financing environment evaluation system and continuously improve the local financing environment。
Industry indicated that in the second half of the year, monetary policy and financial credit policies would continue to push financial resources further towards priority areas such as micro-enterprises。
(key: far, strong)
