Quanzhou'S Ten Measures For Financial Support For Industrial Pformation And Upgrading Have Been Announced.

Recently, the Quanzhou Financial Work Bureau, the people's Bank of Quanzhou central sub branch and the Quanzhou banking regulatory sub Bureau jointly formulated the ten measures of financial support for industrial pformation and upgrading (hereinafter referred to as measures), innovating financial support for industrial pformation and upgrading mode, and expanding the way of financial support for industrial upgrading, aiming to provide a continuous, accurate and comprehensive financial support for industrial pformation and upgrading through accelerating the pformation and development of finance.

We should promote innovative, entrepreneurial and growth oriented enterprises to raise funds on the new third board and the Quanzhou trading center of the Taiwan Strait stock exchange, and raise funds for development by means of private placement, issuance of preferred shares and corporate bonds, and strive to reach more than 100 enterprises and more than 1000 listed companies by 2020.

The measures pointed out that our city will guide financial institutions to increase effective credit delivery, adjust and optimize the credit structure, and ensure that the total amount of credit and structure are in line with the needs of industrial pformation and upgrading.

We should establish a multi-level industrial equity investment fund system, set up a new industry equity investment fund and a special sub fund for key industries, and guide venture capital, angel investment to support seed business, start-up SMEs, and public innovation space.

In order to broaden the sources of capital for industrial pformation and upgrading, our city will play the role of institutional investors such as insurance and social security, and encourage insurance funds to invest in the real economy in a variety of ways including equity, funds and debt, and expand the sources of long term and low cost sources of capital.

We should broaden private capital into the financial sector and the real economy channel, promote private capital to initiate or participate in various financial institutions and quasi financial institutions through various ways, and build regional wealth management centers, expand the introduction of low-cost foreign funds, and reduce the financing costs of enterprises.

At the same time, we should strengthen financial support for key industries and key areas of manufacturing.

We will promote financial institutions to give priority to four leading industries such as textile and footwear, petrochemicals, machinery and equipment, and building materials, and provide credit support for the three major industries, such as food, craft and paper printing, as well as the new generation of information technology, new materials, new energy, energy saving, environmental protection, biological medicine and other emerging industries.

Our city will encourage innovation in Internet financial platform, products and services, promote mutual cooperation among business entities and broaden the field of Internet financial services.

It is encouraged to declare a nationwide network payment licence or introduce a third party payment institution with national Internet payment qualification.

We should speed up the establishment of a capital lending service platform, a shareholding public financing platform, standardize the development of P2P and other financial credit intermediary service platforms, and promote the development of Internet banking, such as Internet lending, equity raising, Internet fund sales, Internet insurance, Internet trust and Internet consumer finance.

We encourage and support the development of online micro credit business by the Consumer Finance Companies and the small and micro credit companies with strong operation standards and strong reputation.

Support e-commerce enterprises to set up microfinance, financing guarantee, financial leasing and other quasi financial enterprises.

Accelerate the development of the industry chain finance "B2B+P2P+ credit platform", e-commerce finance "Internet + Internet of things + finance", rural finance "agriculture + Internet + finance" and other Internet financial services mode, build Internet financial services platform, and build Internet financial service system.

In addition, our city will strive to create a favorable environment for financial support for industrial pformation and upgrading, and will strengthen the assessment of financial support for industrial pformation and upgrading. Every year, a certain amount of funds will be allocated from the special funds for financial development.

According to the measures, our city will further enhance the financial support for the development of modern service industry and deepen financial support for the development of modern agriculture.

At the same time, we should improve and upgrade industrial finance, and promote banking institutions to build "full industry chain financial services" around core enterprises, and innovate financial products and services such as credit, financing, settlement and so on, so as to provide personalized, accurate, all-round and embedded financial services for enterprises in the upstream and downstream industries.

We should expand science and technology finance, improve the valuation, pledge and circulation market of intellectual property rights, increase the innovation of technology credit, insurance, venture capital and loan linkage, and improve the financial service system covering the whole life cycle of science and technology enterprises.

The focus of small and micro finance is to promote banking institutions to provide small and micro enterprise specialized teams and resources at basic level outlets to support the establishment of small and micro professional branches (outlets) and franchised institutions.

We should promote financial institutions to innovate financial products and services that are suitable for the financing characteristics of small and micro enterprises, and actively innovate the ways of repayment of loans by small and micro enterprises, vigorously explore ways of secured loans and credit loans, and continuously expand the coverage of innovative products and services.

The 10 measures include, in particular, promoting sustained growth in credit, expanding the scale of direct financing of enterprises, broadening the sources of funds for industrial pformation and upgrading, strengthening capital support in key areas of manufacturing industry, enhancing financial support for the development of modern service industries, deepening financial support for the development of modern agriculture, improving industrial finance, focusing on developing small and micro finance, encouraging the development of Internet Finance and creating a favorable environment for financial support for industrial pformation and upgrading.