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Original title: Guangzhou Launches Policies to Reduce Costs and Supports Private, Small, Medium, and Micro-enterprises
The 2020 Guangzhou Financial Policy Promotion Conference and Financing Matching Conference “Private Enterprise Service Week” organized by Guangzhou Local Financial Supervision Office and Guangzhou Federation of Industry and Commerce was recently held in Guangzhou . The reporter learned from the matchmaking meeting that the financial industry in Guangzhou has become the fourth pillar industry in Guangzhou. Since the beginning of this year, faced with the impact of the new corona pneumonia epidemic, the momentum of development has been maintained and its contribution to Guangzhou’s economic growth has become more and more evident.
In the first three quarters, the city had an added value of 171.6 billion yuan in the financial industry, an increase of 8.9% year-on-year, accounting for 9.8% of GDP. Tax revenue from the city’s financial industry was 37.44 billion yuan, an increase of 9.4% year-on-year, accounting for 9.5% of total tax revenue. The balance of the city’s domestic and foreign currency deposits is 6.56 trillion yuan, and the balance of loans is 5.30 trillion yuan. The growth rate of loans ranks first among the top five cities of Beijing, Shanghai, Guangzhou, Shenzhen and Tianjin. Insurance premium income was 118.75 billion yuan, ranking third among cities in the country. There are a total of 197 publicly traded companies in the country and abroad, and this year 17 new ones will be added. There are 325 authorized financial institutions in the city, of which 55 are corporate financial institutions.
Under the impact of the new corona pneumonia epidemic, the problem of financing difficulties for private large, small and micro enterprises has become more prominent. Therefore, Guangzhou has intensified the application of special financing policies with preferential interest rates, such as new loans and rediscounts by the central bank. As of the end of October, in terms of 300 billion yuan of refinancing against the epidemic, a total of 141 key guarantee companies in Guangzhou have received 12.2 billion yuan in loans with preferential interest rates, the total amount is the first in the province.
Regarding the 1 trillion yuan on-loan policy to support agriculture and small-scale people, more than 10,000 enterprises have received more than 19 billion yuan in loans with preferential interest rates that meet the requirements of the politics. Regarding the deferred debt service policy, three local corporate banks in Guangzhou (Guangzhou Bank, Guangzhou Rural Commercial Bank, Huadu Chouzhou Rural Bank) received a total of more than 12.3 million yuan from the incentive funds of the central bank deferred debt service policy to help banks grant deferrals. The principal repayment loan exceeded 1.2 billion yuan. In terms of credit loan support policies, the three local corporate banks in Guangzhou received a total of 570 million yuan of central bank loan support policy incentive funds, and supported banks to issue small loans. inclusive and microcredits of more than 1.4 billion yuan.
At the same time, the relevant financial regulatory authorities have also issued a series of supportive policies to improve the inclusive financial policy system. Among them, the Guangzhou Branch of the People’s Bank of China jointly issued the “Implementation Opinions on Strengthening Financial Support for the Development of Private Enterprises in Guangzhou (Revision)” and Guangzhou City Implementation Opinions on Promotion development of supply chain finance.
On May 21, the relevant departments issued the “Guangzhou Inclusive Loan Risk Compensation Mechanism” and established the Guangzhou Inclusive Loan Risk Compensation Mechanism. In order to reduce the cost of corporate loans, the Guangzhou Corporate Loan Service Center was officially opened on June 1. At present, 4 transactions totaling 8.937 million yuan have been settled, and the cost of financing corporate loans has been reduced to 0.05% / day, which is about 1/3 of the average market price.
At the meeting, relevant departments and financial institutions respectively introduced the Guangzhou SME Credit Information and Financing Docking Platform (Yuexinrong Platform), Zhongzheng Accounts Receivable Financing Service Platform, Development Fund Guangzhou Private Economic Industry Innovation Center and Guangzhou Enterprise Guangdong Province SME Financing Platform and Lending Service Center (provincial financial platform for small and medium-sized enterprises) These financial platforms are of great importance in breaking the information asymmetry between banks and companies, improve financing efficiency and reduce financing costs.
(Author: Southern Finance All Media Reporters, Little Bell Rhyme)
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