The 12 Implementation Details Of Wenzhou'S Comprehensive Financial Reform Are Published In Full.

November 23, this morning, Wenzhou City convened

News briefing.

At the meeting, the full text announced the implementation plan of Wenzhou comprehensive financial reform pilot area of Zhejiang province.

In March 28th this year, the Executive Council of the State Council decided to set up a pilot area for comprehensive financial reform in Wenzhou. According to the general plan of Wenzhou comprehensive financial reform pilot area approved by Wenzhou, the reform has 12 main tasks, including regulating the development of private financing, speeding up the development of new financial organizations, and conducting pilot projects for personal foreign direct investment.

After the approval of the Wenzhou gold reform, how to carry out the concrete implementation of Zhejiang has become the focus of attention of all parties.

The implementation of the rules for gold reform has gone through many changes before and after the end of this year: at the end of July this year, the Wenzhou finance office said that the gold reform rules will be announced in August, but not later. In September, the Zhejiang provincial government will inform the relevant parties on the 29 day of the month to interpret the implementation plan of Wenzhou's financial reform, but the meeting will be cancelled temporarily. During the eighteen big period, the Secretary of the Wenzhou Municipal Committee Chen Derong revealed on the opening day of the eighteen Zhejiang delegation that the implementation rules were the fastest this month.

Chen Derong said that as a demonstration area for financial reform, Wenzhou is making steady progress in accordance with the state's deployment and has made great progress.

Zhang Zhenyu, Deputy Secretary General of the Wenzhou municipal government, director of the municipal finance office, and director of the municipal monetary authority, briefed the press conference today that the 12 implementation details had just been approved yesterday, and a press conference was held in a timely manner today.

The specific implementation plan of the "12 provinces" formulated by the Zhejiang provincial government has been modified many times before and after its promulgation.

According to the press release, Wenzhou's comprehensive financial reform insists on overall design, system development, innovation and supervision.

It will take 5 years or so to build a diversified financial system that matches Wenzhou's economic and social development, so that the financial industry will become an important pillar industry of Wenzhou's national economy and promote industrial upgrading.

Play an important role in pformation.

Zhang Zhenyu also introduced the latest progress in the recent six months since the approval of the Wenzhou gold reform in March 28th.

Wenzhou has set up a service platform for small and micro enterprises to form a service system with initial scale, attracting private capital into the financial field, the reform of the rural cooperative banks, the formation of insurance company securities companies, and the development of small loan companies, such as the establishment of a batch of direct financing projects, innovation of a batch of financial services products, and the preparation of a local financial organization, such as the village and town banks initiated by the private enterprises, and the insurance companies initiated by three private enterprises, such as the formation of a trust company by the uniform Yao group,

The group set up financing leasing companies are actively preparing, promoting a number of enterprise restructuring, initially forming a local financial supervision system, guiding the standardization of private capital, and drafting the private lending management regulations to the higher authorities.

Full text:

Implementation plan of Wenzhou comprehensive financial reform pilot area in Zhejiang

In accordance with the spirit of the Wenzhou municipal financial comprehensive reform pilot area approved by the State Council and the general plan of Wenzhou comprehensive financial reform pilot area issued by the people's Bank of China and other 9 ministries and commissions (silver hair [2012] 188), the Zhejiang Provincial People's government recently issued the implementation plan of Zhejiang Wenzhou comprehensive financial reform pilot area.

The plan is guided by Scientific Outlook on Development, focusing on the overall goal of building a modern Zhejiang with material prosperity and spiritual wealth. With the focus on building "Financial Services Center for small and medium enterprises" and "private wealth management center", we need to strengthen institutional and institutional innovation to promote comprehensive financial reform, and strive to solve the "more than 2 dilemmas" in Wenzhou's economic and financial development.

After 5 years of efforts, a diversified financial system that matches the economic and social development of Wenzhou has been built, making the financial industry an important pillar industry of Wenzhou's national economy and playing an important role in promoting industrial upgrading and economic pformation.

Wenzhou's comprehensive financial reform must adhere to the overall design and system development, adhere to innovation and supervision, and adhere to the linkage between upstream and downstream, and project operation. In the process of financial comprehensive reform, we should deal well with the mutual promotion relationship between the financial reform pilot and risk supervision, the relationship between the financial innovation and the real economy, and the relationship between the government and the market mechanism.

Main contents of the implementation plan are:

(1) standardize the development of private financing, study and draft regulations on the management of private financing in Wenzhou, and establish legal guarantee for private financing.

We should explore the establishment of a private financing record management system, and guide the financing entities, especially legal entities, to register for private financing.

We launched a pilot project for private lending service centers, and introduced a number of intermediary agencies to provide services such as private lending registration, contract notarization, asset appraisal and registration.

We should establish and improve the private financing monitoring system, and form a comprehensive index of private financing interest (also known as the "Wenzhou index").

Expand the application of e-commerce in private finance.

(two) speed up the development of new financial organizations, support private capital participation in the reform of local financial institutions, and encourage private funds to initiate and establish new financial organizations such as village banks, loan companies and rural mutual cooperatives in accordance with relevant regulations.

The three year action plan for the development of village banks has been formulated to speed up the establishment of village banks and their branches, and guide village banks to extend outlets to towns and villages, covering all major towns and townships.

In banking financial institutions, priority is given to the establishment of village banks.

We will promote the pilot projects of loan companies and rural mutual cooperatives.

We would like to further confirm the nature of various financing institutions such as microfinance companies.

We will deepen the pilot project of small loan companies, open public bidding and establish small loan companies in batches, and achieve full coverage of central towns and functional areas.

The pilot part of the eligible small loan companies were restructured to village banks according to the regulations.

Explore small loan companies to issue private debt for SMEs.

We will actively promote the construction of a New Trinity rural cooperative platform for professional cooperation, supply and marketing cooperation and credit cooperation, and actively carry out pilot projects such as rural mutual aid associations and rural insurance mutual aid agencies.

We should encourage the development of commercial factoring institutions and develop the private third party payment institutions.

Support the development of private financing Guarantee Corporation.

We should establish and improve the rural credit guarantee service system, encourage and support the guarantee institutions of state-owned capital and private capital to serve the "three rural" services, and realize the full coverage of rural credit guarantee services.

(three) vigorously develop professional asset management institutions. Actively encourage the establishment of venture capital and equity investment enterprises according to law, vigorously cultivate professional asset management and investment management institutions, set up venture capital guidance funds, set up a number of industrial investment funds, adopt intensive and professional management methods, encourage and guide private capital to enter the real economic field in the fields of basic industries and infrastructure, municipal public utilities and policy housing construction, and social undertakings in an orderly way through equity, debt and other investment modes.

Formulate preferential policies to attract domestic and foreign asset management institutions to settle in Wenzhou.

We should promote the development of specialized microfinance management institutions, actively launch pilot projects of private capital management companies, and achieve full coverage of counties (cities and districts) at the end of 2013.

We should expand the field of private capital investment, and explore ways to diversify capital needs of major construction projects through asset securitization, asset backed notes, and directional recruitment, and form diversified financial institutions such as trust companies, securities companies and investment funds to participate in infrastructure financing.

(four) launching pilot projects for individual overseas direct investment, and under the leadership of the unified leadership of the State Council, we should explore and develop RMB personal foreign direct investment in Renminbi.

We should establish a government led and market operated personal overseas direct investment service system and standardize the convenient and orderly supervision system of individual overseas direct investment, formulate the management methods and implementation rules of Wenzhou's individual overseas direct investment, improve the urgent mechanism for handling disputes and emergencies abroad, strengthen information and advisory services, implement various convenient measures, and promote the steady development of personal foreign direct investment.

At the same time, we encourage foreign investment entities to diversify, promote private capital participation in international competition and cooperation in a wider range of fields, and promote the pformation and upgrading of an open economy.

(five) deepen the reform and development of local financial institutions, promote the establishment of various credit institutions for small businesses, and encourage banking financial institutions to set up small business credit institutions.

Support for rural cooperative financial institutions to set up less than 1 million yuan of small agricultural loans or micro credit centers and other franchise agencies.

To promote Wenzhou bank's introduction of strategic investors, capital raising and stock expansion and listing financing.

We will strive to set up financial institutions, financial leasing companies, trust companies, Consumer Finance Companies and other non banking financial institutions in Wenzhou.

We will strive to introduce more than 1 branches of high-quality foreign banks.

We should speed up the reform of the joint-stock system of rural cooperative financial institutions, strengthen policy support, encourage high-quality private enterprises to participate in the capital increase and share expansion of rural cooperative financial institutions, promote the focus of the settlement of rural cooperative financial institutions, and support qualified rural commercial banks to set up branches in accordance with the regulations, and guide and support the rural cooperative financial institutions to enhance their professional level of services.

We should support private capital in securities, investment advisory and other fields, and strive to set up securities companies in Wenzhou, and support more securities, funds and Futures Company to set up branches in Wenzhou.

Local financial institutions are encouraged to explore comprehensive management in the form of holding and shareholding.

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(six) innovating the development of financial products and services, exploring the establishment of risk reserves for local financial organizations, and giving full play to the main channel role of banks, securities, insurance and other financial institutions in financing small and micro enterprises.

Under the premise of controllable risks, we should promote the innovation of financial products and services, and explore the establishment of a multi-level financial service system suitable for small and micro enterprises and the demand characteristics of agriculture, rural areas and farmers.

We should improve the credit efficiency of financial institutions, encourage and guide banking financial institutions to increase credit support for small and micro enterprises and "three rural", and give preferential policies in terms of authorized credit, performance appraisal and tolerance of non-performing loans.

We should actively develop science and technology loans, small secured loans, loans for operation rights pledge, equity pledge loans, intellectual property pledge loans, forest rights mortgage loans, mortgage loans for sea area use rights, and other supporting agricultural credit businesses.

We will actively explore pilot mortgage loans for emission permits, agricultural Housing mortgages, mortgage loans for land contractual management rights, agricultural facilities and mortgage loans for agricultural machinery.

Actively strive for pilot projects of securitization of credit assets.

It also supports banks and insurance institutions to strengthen cooperation, carry out small loan guarantee insurance and credit insurance, and explore commercial insurance participation in small and micro enterprises financing and re guarantee mechanism.

It is necessary to strengthen cooperation between banks and financing Guarantee Corporation, innovate small and micro enterprises' financial products, and establish risk sharing mechanism.

Develop financial leasing business for small and micro enterprises and "three rural" businesses.

We should encourage new business such as outsourcing of financial services.

We should set up a comprehensive financing center for small and micro enterprises, and collect services such as credit investigation, asset appraisal, legal consultation and so on, which include banks, guarantee, accounting, law, evaluation, consultation and associations.

(seven) nurturing and developing local capital markets. In accordance with the relevant provisions of the State Council's decision to clean up and reorganize various exchanges to effectively guard against financial risks (Guo Fa 2011 2011 No. 38), we should further standardize the property rights trading market.

We should seize the opportunity to vigorously promote the construction of pilot cities for national intellectual property rights demonstration cities, the national intellectual property pledge financing pilot cities and the national science and technology and financial integration pilot areas, and actively carry out pilot projects in the property rights trading market, and establish intellectual property rights, enterprise property rights, financial assets, emission rights, water rights, carbon emission permits, low-carbon technologies, rural land contracting rights, and Lin Quan's property rights trading market. In accordance with the law, we will carry out a pilot scheme for the pfer of shares of non-listed company, explore the pilot scheme of private equity pfer for SMEs, and strive to build Wenzhou into a larger comprehensive platform for the production of property rights pactions and the pfer of non-listed company shares.

We should actively promote the multi-channel listing of enterprises, ensure that the total number of listed companies exceeds 30 at the end of 2015, and the number of listed companies is over 50, and gradually form the "Wenzhou plate" of the capital market.

To support more securities and futures institutions to set up branches and business departments in Wenzhou.

(eight) actively develop various types of bond products, and actively develop various types of bonds and various credit rating products.

We should do well in the screening and docking of enterprises, government financing platforms and projects, and cultivate multi-level debt issuers.

In order to promote more enterprises, especially small and micro enterprises to use the bond market to raise funds, and take the local government debt ratio as a control index, we should explore the eligible local financing platform to issue private equity bonds, and take the income of their own interests to cover the multiple of the principal and interest, and encourage the operation of new projects to issue asset backed notes or directly issue bond financing, so as to raise the proportion of direct financing.

We should actively strive for the pilot projects of local governments issuing bonds voluntarily, and expand the scale of issuance of corporate bonds, corporate bonds, financial bonds, short-term financing bills, medium-term bills, small and medium-sized enterprises collecting notes (bonds), and asset backed notes, and strive for annual issuance of more than 8 billion yuan.

Actively strive for innovative products such as high-yield bills in Wenzhou.

Establish and improve the risk control mechanism of small and micro enterprises re guarantee system and re guarantee institutions, and provide credit enhancement services.

(nine) expand the field of insurance services, give full play to the role of insurance function, and initially establish a special insurance product and service system suitable for Wenzhou's economic and experimental areas, so as to promote Wenzhou's economic pformation and development and social harmony and stability.

We should vigorously cultivate the insurance market, support qualified private capital to initiate the establishment of regional or professional insurance companies, or share insurance institutions, and establish and perfect the mechanism of market entry and exit.

We should explore new models and new paths for insurance funds to serve the real economy, and guide insurance funds to invest in Wenzhou's infrastructure projects and participate in important areas such as Wenzhou's industrial investment funds, affordable housing, pension industry, and medical industry.

Innovation and development serve small and micro enterprises, specialized markets, industrial clusters and "three rural" insurance products, expanding insurance coverage, exploring and studying catastrophe insurance system, and achieving new breakthroughs in the development of local real economy.

We should speed up the development of agriculture related insurance business, encourage the combination of agricultural insurance and rural credit, and establish and improve a long-term mechanism for policy oriented agricultural insurance.

We should speed up the development of liability insurance, which is closely related to public interests, such as product quality responsibility, environmental pollution responsibility, public safety responsibility and safety production responsibility.

Explore and develop credit default insurance.

We should encourage and support commercial insurance to participate in the construction of serious medical insurance for urban and rural residents, actively develop commercial pension health insurance, expand enterprise annuity, and vigorously develop products such as supplementary medical care, sickness insurance and disability income loss insurance.

(ten) to strengthen the construction of social credit system, formulate suggestions for strengthening the construction of social credit system, and actively promote the collection, exchange and application of credit data in financial, administrative, social, market, accounting and other fields.

We should vigorously promote the integrity of government affairs, business integrity, social integrity and judicial credibility, establish and improve the credit rating system covering the whole society, and increase the intensity of punishment for dishonesty.

Integration of information resources to promote the construction of SMEs and rural credit system.

We should strengthen the openness and sharing of credit information and promote the application of credit service products.

We should improve the credit service market and standardize the development of credit rating agencies.

We should strengthen the supervision of the credit market, improve the local credit environment, and incorporate the credit environment into the performance appraisal scope of the local governments.

(eleven) strengthen local financial management mechanism, strengthen communication and coordination between financial supervision and management departments, and enhance joint efforts of supervision and management.

The Wenzhou local monetary authority should strengthen the management of innovative local financial organizations, promote the innovation of local financial management system, clarify the boundaries of management, and clarify the responsibilities of management.

We formulated the implementation of local financial supervision work and strengthened the management of market entities such as microfinance companies, financing Guarantee Corporation, pawnshops, consignment firms, dispensing firms, equity investment companies, private capital management companies, private lending service centers, investment institutions and network lending service providers.

We should establish and improve the comprehensive financial statistics and analysis system, strengthen the construction of off-site supervision information system, and gradually incorporate these market players into the monitoring area, strengthen monitoring and early warning, and prompt prompt risks.

(twelve) establish a risk prevention mechanism for comprehensive financial reform. In accordance with the principle of "power and responsibility equivalence", we should strengthen and implement the responsibility of local governments in disposing local financial risks and maintaining local financial stability.

We should improve the emergency plan for financial emergencies in Wenzhou and improve the early warning system and disposal system for local financial risks.

We should further strengthen and improve the work of financial crime investigation, set up a supervision system for private financial major cases, strengthen the risk of private lending, and crack down on illegal pyramid schemes, illegal fund-raising, underground banks, money laundering and other illegal financial activities, so as to prevent private lending from changing into usury, illegal fund-raising and other illegal activities.

We should give full play to the role of Wenzhou Financial Crime Investigation Detachment in combating crimes in the financial field and guarding against financial risks, effectively giving play to the judicial protection function of the Financial Arbitration Court and the financial court, regulating financial behavior and resolving financial disputes.

The Zhejiang provincial government calls for strengthening organizational leadership and effectively promoting the implementation of Wenzhou's comprehensive financial reform experiment.

We should actively support the relevant ministries and commissions of the state, implement the linkage between the Ministry of reform and experimental work, and the provinces and municipalities, and regularly consult the new situations and problems that arise in the process of reform, and coordinate and push forward the relevant reform and trial work.

Set up an expert committee on financial reform in Wenzhou.

The relevant departments at the provincial level should actively strive for the relevant approval authority of the state devolution, and give support in the process of establishment approval and project approval.

The relevant departments of the counties, cities and districts of Wenzhou should put the pilot work into the annual important work responsibility objectives, improve relevant supporting policies and strengthen coordination measures.

Create a good atmosphere of public opinion.

Formulate corresponding supporting policies and supporting measures such as finance and taxation.

Strengthening personnel support.

The establishment of the Wenzhou Institute of finance.

We should increase investment in hardware facilities and vigorously promote the building of headquarters in financial agglomeration areas.