Setting 2020 by CBRC: financing cost of small and micro enterprises

Recently, China Banking and Insurance Regulatory Commission held a national banking and insurance industry supervision and management conference in 2020. The meeting reviewed the work in 2019, studied and judged the current economic and financial situation, and deployed the work tasks in 2020. The meeting pointed out that in 2019, the CBRC made key progress in preventing and resolving financial risks, the quality and efficiency of financial institutions serving the real economy continued to improve, the reform in key areas of key institutions continued to deepen, and the corporate governance mechanism further improved. For the key work direction in 2020, the CBRC proposes that, first, we should resolutely win the battle to prevent and defuse financial risks; second, we should vigorously do a good job in the "six stability" related work, promote the improvement of the quality and efficiency of financial services in the real economy, guide more investment in key areas and weak links, reduce the comprehensive financing cost of inclusive small and micro enterprise loans by another 0.5 percentage points, and increase the loan growth rate Third, we must comprehensively deepen the structural reform of the financial supply side and improve the level of opening up. According to the meeting, the operation of banking and insurance industry is generally stable and the main indicators are in a reasonable range. However, the risk situation is still complex and there are many uncertainties and instability, which need to be dealt with seriously and properly.

2020 is the year when the well-off society will be built in an all-round way and the 13th five year plan will come to an end. It is also the year when the battle to prevent and defuse financial risks will come to an end. The whole system should strive to promote the high-quality development of the party's construction, pay close attention to the rectification of problems and establish a long-term mechanism. In order to resolutely win the battle to prevent and defuse financial risks, the CBRC will focus on these aspects: to properly handle high-risk institutions, to consolidate the responsibilities of all parties, to do a good job in coordination, cooperation and policy guidance; to continue to dismantle shadow banks, especially to vigorously reduce the high-risk shadow banking business, to prevent the resurgence of the dead. We should resolutely implement the requirements of "no speculation in housing", strictly implement the regulatory rules such as credit concentration, and strictly prevent the illegal flow of credit funds into the real estate sector; for financial groups built in violation of laws and regulations, we should, on the premise of stabilizing the overall situation, seriously investigate and deal with the illegal behaviors, make full efforts to clean up the assets, recover the stolen goods for losses, and reform and restructure. We will further promote the special rectification of Internet lending and increase the standardization of Internet insurance. We will continue to work with local governments to deepen the reform and restructuring of state-owned enterprises, speed up the adjustment of economic structure, and resolve the hidden debt risks. We will effectively prevent and resolve the risks of external shocks, conduct stress tests on Banking and insurance institutions, improve response plans, and stabilize market expectations.

To strengthen the financial support in the field of social services, in order to do a good job in the "six stability" related work, promote the quality and efficiency of the real economy of financial services, and guide more funds to key areas and weak links, the CBRC will promptly issue the supervision and evaluation method for the financial services of small and micro businesses of commercial banks, and the comprehensive financing cost of inclusive small and micro businesses should be reduced by another 0.5 percentage points, and the loan growth rate should be increased It is higher than the average growth rate of various loans, and the growth rate of inclusive small and micro enterprise loans of five large banks is higher than 20%. We will strengthen financial services for private enterprises, especially private manufacturing enterprises, give priority to supporting advanced manufacturing industries and industrial clusters, and focus on easing the liquidity difficulties of enterprises with market prospects. The meeting pointed out that we should strengthen financial support in the field of social services, implement financial policies and measures to support pig production, help win the battle of poverty alleviation and pollution prevention, and strive to achieve the loan growth rate of "three regions and three prefectures" and other deep poverty-stricken areas higher than the average loan growth rate of the provinces. In addition, the meeting also stressed that we should vigorously develop green finance, launch a number of financial products that are conducive to environmental protection, and further improve the coverage and penetration of compulsory environmental pollution liability insurance.

In terms of improving the market-oriented mechanism of vehicle insurance rates and comprehensively deepening the structural reform of the financial supply side, the CBRC said that it would guide the stable transformation of bank financing and trust industry, establish and improve the third pillar of pension security, lay a solid foundation for the long-term sustainable and healthy development of the capital market while optimizing the structure and institutional system of financial products; focus on the reform of small and medium-sized banks and rural credit cooperatives, and comprehensively deepen We will reform all kinds of banking and insurance institutions, improve the market-oriented formation mechanism of commercial vehicle insurance rates, promote the construction of the reinsurance market, and expand the scope of catastrophe insurance pilot projects. We will further expand opening up to the outside world, accelerate the implementation of policies that have been issued to achieve results, vigorously improve the capital structure, and encourage professional institutions at home and abroad with outstanding main businesses, advanced management and good records to invest in Chinese banks and insurance companies. In addition, the meeting pointed out that it is necessary to formulate debt quality supervision measures as soon as possible to improve the stability and matching of liabilities of bank insurance institutions, especially small and medium-sized institutions; explore and improve the recovery and disposal mechanism of bank insurance institutions, work with relevant departments to study and determine the list of domestic systemically important financial institutions; distinguish systemically important and non systemically important institutions, and implement differentiated supervision; We will improve disposal procedures, consolidate responsibility for disposal, improve loss sharing mechanisms, and form a healthy and orderly financial governance system.