Emerging Industries Welcome A Package Of Financial Policy Support

The August issue of economic reference daily, entitled "support for emerging industries to welcome a package of financial policies", was published in 1. The article said that strategic emerging industries will receive more policy and financial support.

Strengthening financial support for strategic emerging industries from the policy level has become the consensus of the industry. Recently, relevant financial regulatory departments have repeatedly deployed relevant policies. In terms of bank credit, Yang Liping, chief inspector of China Banking Regulatory Commission recently said that banks should strengthen support for key areas such as tackling key core technologies in the field of necking, strategic emerging industries, and transformation and upgrading of manufacturing industries. In July 29th, the central bank's credit structure adjustment and optimization forum of financial institutions clearly focused on the development of high quality manufacturing industry, and implemented the policy of "supporting and controlling differentiated credit". Increase the medium and long term loans for manufacturing industry. According to the characteristics of science and technology enterprises and high technology manufacturing industries, we should innovate financial products.

It is understood that at present, manufacturing loans and technological transformation loans of China's major banks in strategic emerging industries are all higher than the overall level of manufacturing loans. The credit rating of large banks in this field is also large. Take the Agricultural Bank of China as an example, its number of credit business, customer number and approval amount increased by 356%, 350% and 345% respectively in the first quarter of this year. "Next, the CIRC will strengthen the endogenous driving force of the banking service manufacturing industry in addition to strengthening the regulatory guidance and making specific plans for defining the service targets." Yang Liping said.

In addition to the bank credit policy tilt, in terms of equity financing, the relevant regulatory departments also have policy deployment. "Generally speaking, different channels have different roles in different stages of growth cycle. Bank credit is relatively cheaper to finance, and is more suitable for developing to a certain scale. Equity financing has the characteristics of not requiring repayment of principal and high rate of return, which is more suitable for the financing needs of start-ups. Fan Ruoying said.

The SFC recently made suggestions to the public on Amending the management measures of major asset restructuring of listed companies. It intends to support the restructuring and listing of new and high-tech industries and strategic emerging industries in line with the national strategy. At the same time, local governments are also promoting local special funds to transfusion strategic emerging industries.