National Convention: Further Implementation Of Targeted Reduction Of Small And Medium Banks

Li Keqiang, premier of the State Council, chaired the executive meeting of the State Council on March 31st, and decided to issue a batch of special local government debt quotas in advance, so as to promote effective investment, deploy financial support for small and medium enterprises, and increase the relevant subsidy policies for difficult groups.

The meeting pointed out that in recent years, in accordance with the deployment of the CPC Central Committee and the State Council, a series of policies for ensuring supply and helping enterprises have been introduced successively, effectively promoting the resumption of work and resuming production in effective prevention and control of the epidemic situation. In the face of the new challenges that have brought serious impact on China's economic development both at home and abroad as well as the dramatic changes in the world economic and trade situation, we should increase fiscal and monetary policy adjustment efforts, expand domestic demand, help restore production and ensure employment, and help all kinds of enterprises, especially small and medium enterprises, foreign trade enterprises and individual businesses to tide over special difficulties and ensure basic livelihood.

The meeting pointed out that we should further increase the scale of the special debt of local governments. On the basis of a portion of this year's special debt limit, we should pay special attention to the special debt issued in advance according to the procedures. In accordance with the principle of "following the project with capital", we should give priority to areas with high priority and low risk. All localities should pay close attention to the issue and strive to complete the two quarter.

The meeting decided to strengthen financial support for small and medium enterprises. We should increase the rediscount amount of small and medium banks by 1 trillion yuan, further implement the targeted reduction of small and medium banks, guide all small and medium-sized banks to get all the funds to loan to small and medium enterprises at preferential interest rates, and expand the credit related to agriculture, foreign trade and heavy industries affected by the epidemic. Support financial institutions to issue 300 billion yuan small and micro financial bonds for the issuance of small and micro loans. The net financing of corporate credit bonds was increased by 1 trillion yuan over the previous year. To promote SME accounts receivable financing 800 billion yuan.

The meeting pointed out that at present, it is very urgent to increase the support for low-income groups, especially the difficult ones. First, from 3 to June, the temporary subsidy standard for temporary social assistance and the linkage mechanism between protection standard and price rise will be increased by 1 times, and orphans and eligible unemployed persons should be included in the policy area. The increased subsidy funds are proportionally subsidized by the central government and are included in the unemployment insurance fund. Two, it is necessary to include the difficult population affected by the epidemic into the scope of policy guarantee and employment assistance such as minimum guarantee and temporary assistance. We should pay close attention to the study of the policy of expanding unemployment insurance.

To promote automobile consumption, the meeting decided that the first is to extend the subsidy policy for new energy vehicles and the policy of exemption from purchase tax for 2 years. Two, the central government should take the bonus to replace the subsidy to support the emission standard diesel trucks of the three and below eliminated countries in key areas such as Beijing, Tianjin and Hebei. The three is to sell second-hand cars to second-hand car distribution enterprises, and from May 1st to the end of 2023, reduce sales by 0.5%.

Other matters were also discussed.