Central Bank: Further Suggestions On Financial Services For Small And Medium Sized Enterprises

　　 People's Bank of China Shanghai headquarters, branches, business management departments, provincial capital cities, central sub branches, sub provincial cities, sub branches, provinces, autonomous regions and municipalities, banking regulatory bureaus, securities regulatory bureaus, insurance regulatory bureaus, state development banks, policy banks, state-owned commercial banks and joint stock commercial banks, and postal savings bank of China:

In order to further implement the opinions of the State Council on further promoting the development of small and medium-sized enterprises (No. 2009, No. 36), we should further improve and improve the financial services of small and medium-sized enterprises, broaden the financing channels, and strive to alleviate the financing difficulties of small and medium enterprises (especially small businesses), and support and promote the development of SMEs.

First, further promote the reform and innovation of credit management system for small and medium-sized enterprises.

(1) deepen understanding, change ideas, and effectively raise the level of financial services for small and medium-sized enterprises. The financial system should further study and implement the "People's Republic of China SME Promotion Law", "the State Council's opinions on further promoting the development of small and medium-sized enterprises", and the State Council's opinions on the healthy development of private investment, such as national development [2010] 13, and other national laws, regulations and policies, so as to further enhance the sense of responsibility and overall situation of financial services for small and medium-sized enterprises, and effectively change the concept of operation and service. It is necessary to improve the financial services of small and medium-sized enterprises and expand the credit placement of small and medium-sized enterprises as an important strategy for developing credit operations of financial institutions in various banks, so as to ensure that the growth rate of credit for small businesses is higher than that of all loans, and the increment is higher than that of the previous year.

(two) transform the approval process, improve the efficiency of examination and approval, and ensure that the small and medium enterprises that meet the loan conditions obtain convenient and fast credit services. The financial institutions should set up independent approval and credit access standards for small and medium-sized enterprises, reduce the approval process of SME loans, and effectively enhance the efficiency of loan approval. Encourage qualified banks to run one-stop financial services for small and medium-sized enterprises. Actively promote a flexible and efficient loan approval mode. The research promotes the online approval of small business loan network, and sets up an information network sharing platform for examination and approval.

(three) insisting on maintaining pressure, clearly supporting key points, and actively promoting the healthy development of small and medium-sized enterprises in line with the requirements of the state's industrial policies. We should give priority to meeting the needs of small and medium-sized enterprises in meeting the requirements of new technologies, new technologies, new equipment, new materials and new formats in the adjustment and revitalization plan of the state key industries, and increase support for small and medium-sized enterprises with independent knowledge products, independent brands and high added value fist products, so as to enhance the capability of independent innovation and international competitiveness of SMEs. We must strictly control excess capacity and "two high and one capital" industry loan, encourage the support of investment projects incorporating environmental protection, energy saving and water saving enterprise income tax preference catalogue, and promote small and medium-sized enterprises to save energy and reduce emissions and clean production. Financial institutions are encouraged to support the advanced small and medium-sized enterprises in the eastern region to strengthen cooperation with small and medium-sized enterprises in the central and western regions through the acquisition, merger, reorganization and joint operation, so as to achieve industrial transfer in an orderly manner. Accelerate the development of cultural and creative services outsourcing, and other employment absorptive capacity, market demand for small and medium-sized enterprises in the development of services.

(four) implementing differentiated supervision of financial services for small businesses. The dispatched offices of the CBRC should formulate scientific and prudent rules for the market access of small financial institutions in line with local conditions, implement classified supervision and differentiated supervision, and continuously improve the effectiveness of supervision technology and supervision. Small business financial services franchisees should further implement the "four single" principle of financial services for small businesses. They should include single credit schemes, separate allocation of human resources and financial resources, separate customer identification and credit review, separate accounting, and build a professional management and assessment system. Financial institutions should enhance awareness of risk management, formulate risk management business rules for small business customers, develop risk management managers familiar with small business operations, and gradually establish a market risk management system that is suitable, perfect and reliable for small businesses in terms of their nature, scale and complexity. We should conscientiously carry out the relevant provisions on the credit work of small businesses, formulate the due diligence exemption mechanism for small business credit personnel, conscientiously fulfill the duty exemption, and blame the dereliction of duty.

(five) promote the innovation of financial products and credit models suitable for the characteristics of SMEs. Banks are encouraged to promote mortgage loans such as chattels, intellectual property rights, stock rights, forest rights, guarantee letters and export tax rebates, and develop financial products such as factoring, forfeine, bills discounting, supply chain financing and so on. We should explore and innovate credit models that are suited to the needs of SMEs, relying on industry associations, rural professional economic organizations and social intermediaries. We should increase the publicity of electronic banking business, and guide and urge banking financial institutions to improve the utilization rate of electronic commercial bills in small and medium-sized enterprises. Financial institutions should be encouraged to cooperate in accordance with the law in order to develop loans transfer business, rationally adjust credit resources and increase loan support to SMEs.

Two, establish and improve Small and medium-sized enterprises Multi level financial organization system of financial services

(six) improve the service consciousness and ability of large banks to SMEs. State owned commercial banks and joint-stock commercial banks should continue to promote the construction of SME financial services franchised institutions. Based on the establishment of a small and medium-sized financial services franchise, large banks should further extend service outlets, effectively separate statistics and regulation, and improve the accreditation mechanism, so that the franchisees can play a full role in realizing the targeted services of SMEs, especially small businesses. The postal savings bank of China should speed up the transformation of institutional outlets, improve the function of small loans, innovate credit products, and enhance financial services for key businesses such as small businesses and individual businesses.

(seven) give play to the important role of small and medium-sized commercial banks in supporting the development of small and medium-sized enterprises. Small and medium-sized commercial banks should accurately grasp the market orientation of "basing ourselves on the place and serving the small and medium-sized", support the development of local economy, support small and medium enterprises, private enterprises and individual businesses as the focus of work, and strive to build their own brand of "serving SMEs". We should give full play to the geopolitical advantages of small and medium-sized commercial banks, dig out the credit information of enterprises, and create a favorable environment for reducing the financing threshold of small and medium-sized enterprises. To establish a stable credit team, in order to adapt to the characteristics of SMEs, explore extended services to better meet the special financial services needs of SMEs. The number of small and medium-sized commercial banks' access to branches should be abolished, and priority should be given to the establishment of branches in areas such as the West and Northeast China, with relatively few financial institutions and relatively weak financial services.

(eight) promoting the steady development of new rural financial institutions and small loan companies serving SMEs in counties. All banking financial institutions are encouraged to open village banks and loan companies to financial services blank villages and towns. Adhere to both risk prevention and standardized development of small loan companies, and support eligible small loan companies to become village banks. Large and medium sized commercial banks provide wholesale capital business for small loan companies on the premise of risk prevention. However, the balance of financing funds available by small loan companies from banking financial institutions should not exceed 50% of net capital.

Three, expand diversified financing channels that meet the needs of SMEs.

(nine) improve the SME equity financing mechanism and give full play to the positive role of capital market in supporting SMEs' financing development. We should encourage venture capital and private equity funds to set up venture capital enterprises, and gradually establish a venture capital raising mechanism guided by government funds and private capital as the main body, and market-oriented operation mechanism of venture capital, so as to improve the exit mechanism of venture capital and promote the healthy development of venture capital. We should strengthen the early stage guidance and training of SMEs, and support independent innovation and the development and development of SMEs. We should actively develop small and medium-sized board markets, speed up the development of the growth enterprise market, and strive to expand the scale of SMEs' listing. We should establish and improve the refinancing and merger and acquisition system for small and medium sized board and GEM companies, and improve the listing mechanism of SMEs. We should actively push forward the transfer of stock quotas of non listed Limited by Share Ltd by securities companies, and expand the trial to other qualified state-level high-tech parks in a timely manner, improve the supervision and trading system, and improve the financing environment for technology-based SMEs.

(ten) gradually expand the issuing scale of SME debt financing instruments. We should actively promote the pilot work of perfecting short-term financing bills, collecting bonds and collecting bills of small and medium-sized enterprises, streamline the examination and approval procedures, and implement a green channel for SMEs to issue debt financing instruments. In order to issue direct debt financing instruments for small and medium-sized enterprises that meet the requirements of national policies, intermediary organizations should be encouraged to appropriately reduce fees and reduce the financing cost of SMEs. Cultivate qualified investors in interbank bond market and create conditions for direct financing of SMEs. We should further improve the relevant supporting mechanisms such as risk control and credit enhancement to provide credit enhancement services for high quality SMEs in the issuance stage of debt financing tools.

(eleven) develop financial leasing business vigorously. We will push ahead with the pilot work of establishing a financial leasing company by commercial banks. Support financial leasing companies in accordance with the "business continuity" principle, to carry out SME financing lease business innovation. We should improve the publicity and registration system of financial leasing, strengthen the publicity of financial leasing publicity system, improve the credibility and efficiency of the lease registration, and create a favorable external environment for the financing lease business of small and medium-sized enterprises. We should strengthen the guidance and supervision of financial leasing business, promote the standardization of financial leasing industry, unified management, and unify the contracts, while avoiding risks and ensuring the orderly and standardized development of financial leasing.

Four, vigorously develop credit enhancement system for SMEs.

(twelve) strengthen the daily supervision of financing Guarantee Corporation. We should urge the financing Guarantee Corporation to comply with the law in a prudent manner, strictly control the risk concentration ratio and guarantee the affiliated party. We should guide the financing Guarantee Corporation to strengthen capital management and internal control mechanism, and constantly improve the level of risk management. The operation of guarantee institutions should be incorporated into the people's Bank of China's credit information system to implement unified management. We should promote local governments to establish various types of small business loan risk compensation funds, financing guarantee funds, non-profit small businesses, Guarantee Corporation and loan incentive funds, so as to rationally share the risk of small business loans. We should carry out the laws and regulations of the guarantee industry, improve the rules and regulations, and form a guarantee system with the self supervision of investors as the basis of supervision, and the local government departments as the regulatory body, and standardize the operation of the whole nation as soon as possible, so as to raise the efficiency of financing Guarantee Corporation funds.

(thirteen) improve the insurance products that are suitable for the needs of SMEs. We will continue to promote the development of science and technology insurance, and provide venture protection for new and high-tech SMEs. We should actively develop new types of insurance products, such as credit insurance and short-term mortgage guarantee insurance, and encourage insurance institutions to actively develop insurance products for SMEs. Scientifically and reasonably determine the premium rates for small and medium-sized enterprises, and improve the enthusiasm of insurance institutions to provide insurance services for SMEs. We will continue to implement the premium subsidy policy for small and medium commercial enterprises to insure domestic trade credit insurance.

(fourteen) promoting the construction of credit system for small and medium-sized enterprises. We should strengthen the credit propaganda of small and medium-sized enterprises and enhance the credit consciousness of small and medium-sized enterprises. Collecting information of small and medium-sized enterprises through multiple channels, expanding and enriching credit archives information of small and medium-sized enterprises, and improving the level of credit information service for small and medium-sized enterprises combined with the basic database of enterprise and personal credit information. We should promote the construction of credit system for small and medium-sized enterprises, establish multi-level credit evaluation system for SMEs, give full play to the role of credit intermediaries, such as credit guarantee, credit rating and credit investigation, and enhance the credit of small and medium-sized enterprises. Developing credit cultivation, extending financial services and raising financing opportunities for small and medium-sized enterprises. We should carry out the construction of the pilot area of credit system for SMEs in conditional areas and explore the establishment of credit information system for SMEs.

(fifteen) establish and improve the mechanism of information communication and create a good ecological environment. We will encourage various bank and enterprise docking activities to provide communication and cooperation opportunities for banking financial institutions and small and medium-sized enterprises. Provide financing guidance and advisory services to SMEs, help and support SMEs to improve their enterprise system, strengthen internal management, enhance transparency in production and operation information, effectively reduce information asymmetry between borrowers and borrowers, and enhance SME market financing capabilities. We should set up a platform for cooperation, play a bridge role in the docking between banks and enterprises, such as trade associations, non-governmental chambers of Commerce and industry and commerce, and strive to achieve results in information collection, customer screening and risk prevention.

Five, many initiatives to support SMEs " Go out "Developing the international market"

(sixteen) give full play to the role of export credit insurance for small and medium-sized enterprises, increase the support of preferential export credits to SMEs, and support small and medium enterprises to develop international markets. We encourage and support small and medium-sized enterprises to use RMB in valuation and settlement in cross border trade pilot areas. We should encourage financial institutions to improve their service quality, help SMEs reduce costs and expand their businesses.

(seventeen) improve the foreign exchange management of small and medium-sized enterprises to provide convenience for small and medium-sized enterprises. The difference between Chinese and foreign enterprises in borrowing foreign debt policy is reduced, and all kinds of Chinese funded enterprises with loan capability and capital demand are allowed to borrow foreign funds to meet their overseas capital needs. Supporting SMEs to purchase foreign exchange for foreign investment.

Six, strengthen the coordination of departments and the construction of monitoring and evaluation mechanism.

(eighteen) financial management departments at all levels should cooperate closely, strengthen coordination, supervise and guide the implementation of policies, strengthen cooperation and exchanges in policy planning, institution building, personnel training and publicity services, establish information sharing and work coordination mechanism, and establish a regular notification system. We should establish and improve the credit policy guidance effect evaluation system for small and medium-sized enterprises, include the loan of small and medium enterprises into the content of the credit policy oriented effect evaluation, set up separate assessment indicators for SMEs' credit business, publish the results regularly and report to the head office of the people's Bank of China, and urge financial institutions to improve their credit support for SMEs. We should strengthen the credit statistics monitoring and analysis of small and medium-sized enterprises, urge all banking financial institutions to conscientiously implement the special statistical system of loans for small and medium sized enterprises and the standards for the classification of small and medium-sized enterprises, so as to improve the quality of data submitted and further improve the loan statistics system of small and medium-sized enterprises.

The people's Bank of Shanghai headquarters, branches, business management departments and provincial capital cities' central sub branches are invited to jointly transmit their opinions to the financial institutions within their respective jurisdictions jointly with the provincial, regional and municipal bureaus, the securities regulatory bureaus and the insurance regulatory bureaus.