Wenzhou Releases 12 New Central Bank Support For Financial Reform

Zhejiang Wenzhou financial reform leading group released 12 new financial reforms in Wenzhou today.

Ding Minzhe, deputy director of the Zhejiang provincial financial affairs office and the Wenzhou financial reform leading group of Zhejiang Province, said that in the 12 tasks designated by the Executive Council of the State Council, the 11 remaining tasks were well implemented in addition to the direct investment of individuals involved in capital account liberalization.

In order to better adapt to the changes of domestic economic and financial operation under the new normal, and draw lessons from and absorb the practices and experiences of other regional financial reforms in the light of the actual situation in Wenzhou, it can provide reference for comprehensive financial reform and innovation and prevent regional financial risks. It can duplicate the experience and put forward suggestions for further deepening the construction of Wenzhou comprehensive financial reform pilot area.

There are 12 measures to further deepen the construction of Wenzhou comprehensive financial reform pilot area, including:

First, strengthen the local legal person financial organizations.

Encourage private banks to innovate and develop.

We should accelerate the establishment of insurance companies and securities companies initiated by private capital.

We should actively introduce and develop professional institutions such as trust, financial leasing, Consumer Finance Companies and so on.

Second, innovate and optimize financial products and services.

We should optimize the system of credit guarantee, improve the risk sharing mechanism of loan guarantee, and promote the system of bank joint credit granting bank.

Strive for the issuance of large certificates of deposit.

Third, deepen the reform and development of rural finance.

Construction of small credit loan, mortgage guarantee loan, guarantee institution guarantee loan "Trinity" rural credit product system.

We will steadily push forward the pilot projects of rural housing mortgage loans.

Fourth, deepen the insurance service to the real economy.

The SME loan guarantee insurance mechanism, which is jointly operated by the government, insurance companies and banks, is established.

Start catastrophe insurance pilot.

We will vigorously promote the development of liability insurance.

Fifth, support the development of Internet financial innovation.

We support the launching and establishment of a special sub fund for Internet financial development, focusing on start-up and growth Internet financial enterprises.

Sixth, we must vigorously develop multi-level capital markets.

Small and medium enterprises are encouraged to be listed on domestic and foreign exchanges.

We should innovate the financing mode of municipal construction projects, and guide the social capital to participate in the development of infrastructure and hi-tech enterprises in the form of PPP.

We should explore and explore qualified foreign qualified institutions to raise renminbi funds and raise public funds or private equity funds in Renminbi denominated currency.

Seventh, explore the establishment of a long-term government credit enhancement system.

We will improve the management of government lending funds and innovate the competitive storage mechanism of financial funds.

Develop industry associations, chambers of Commerce and enterprises to promote mutual trust and mutual credit mechanism.

We should develop venture capital fund and industry guidance fund, and actively promote the provincial government guidance (investment) fund to set up sub fund in Wenzhou.

Nurturing and developing angel investment.

Eighth, expand outward oriented financial services Exchange.

Supporting overseas financial institutions to set up branches in Wenzhou or invest in financial institutions of Wenzhou legal persons.

We should explore the issue of RMB bonds abroad.

Ninth, build

Stabilization mechanism.

A regional financial Asset Management Co is set up to deal with non-performing assets.

We should improve the mechanism of verification and disposal of microfinance.

We should improve the mechanism of helping enterprises to solve difficulties and establish a sound system for preventing and disposing the risks of non-performing assets.

We should give full play to the joint system of "one government, two houses", and promote the establishment of a linkage mechanism between government, banking, enterprises and law, and innovate the mechanism and way of handling differences in financial creditor's rights.

Optimize the implementation of private financing filing system.

Crack down on suspected crimes

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Tenth, innovate judicial practice guarantee.

Stable.

We should promote the reform of financial creditor's rights cases.

We should speed up the trial process of criminal cross financial creditor's rights cases and explore the simultaneous trial of the people and the criminal.

We should explore the judicial protection system of enterprise bankruptcy and encourage the reorganization and reorganization of venture enterprises.

Eleven, promote local financial regulation and innovation.

Deepen the implementation of private financing management regulations.

We should promote administration according to law, explore the regulation of negative list system, and explore a new pattern of local financial supervision.

We should explore the establishment of an economic and financial data sharing platform, improve the "Wenzhou index" editing and reporting mechanism, and establish a private financing price forecasting system.

Twelve, optimize regional financial ecological environment.

We will promote the establishment of a credit information sharing platform to achieve synergy and comprehensive application of the people's Bank credit information sub center and the municipal public credit information system.

We should improve the mechanism of financial consumer protection and petition work, and implement the first responsibility of financial institutions to protect consumers.

We should strengthen publicity and education in financial knowledge and raise investor awareness of risks.