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Jing Jin Rong [2020] No. 31

Municipal government departments and relevant authorities involved:

In order to optimize the finance and credit business environment of Beijing, we formulated and issued the Opinions on Accelerating the Optimization of the Finance and Credit Business Environment to you for your earnest implementation.

Appendix: Opinions on Accelerating the Optimization of the Finance and Credit Business Environment   

Beijing Local Financial Supervision and Administration Bureau Operations Office (Beijing) of the People's Bank of China
Beijing Office of China Banking and Insurance Regulatory Commission
February 28, 2020

Appendix

Opinions on Accelerating the Optimization of the Finance and Credit Business Environment

In order to further optimize the finance and credit business environment, effectively mitigate the impacts of the COVID-19 pandemic and promote sustainable and healthy development of real economy, we hereby put forward the following Opinions.

I. Maintaining the Steady Growth of Credit Supply

Guide financial institutions under jurisdiction to support the development of real economy with more credit supply, and strive to offer more loans year on year. Formulate favorable policies to increase the enthusiasm and capability of financial institutions to offer loans, and ensure the annual growth rate of inclusive loans to micro and small enterprises should be 10 percentage points higher than that of other loans, and the growth rate of inclusive loans to micro and small enterprises granted by large state-owned banks shall be no less than 20%.  (Responsible authorities: Operations Office (Beijing) of the People's Bank of China and Beijing Office of China Banking and Insurance Regulatory Commission)

II. Reducing the Comprehensive Financing Cost of Micro and Small Enterprises

Reduce the comprehensive financing cost of inclusive loans to micro and small enterprises across Beijing in 2020 by an additional 0.5 percentage points over 2019, and the average guarantee rate of government-backed financing guarantee companies by another 0.5 percentage points in 2020, strictly implement the regulatory policies on collection of financial service fees from micro and small enterprises, and effectively reduce the comprehensive financing cost of micro and small enterprises. (Responsible authorities: Operations Office (Beijing) of the People's Bank of China, Beijing Office of China Banking and Insurance Regulatory Commission and Beijing Local Financial Supervision and Administration Bureau)

III. Providing More Support at Policy and Financial Level

Provide more financial support through rediscount, and strive to make the rediscount business handled in 2020 totaling no less than RMB 30 billion. Among them, the proportion of private enterprises, and micro and small enterprises should be no less than 80%. Provide low-cost capital to financial institutions through People's Bank of China relending quota to micro and small enterprises in support of their development, and increase the credit support to private enterprises, and micro and small enterprises at a favorable interest rate. (Responsible authorities: Operations Office (Beijing) of the People's Bank of China)

IV. Further Giving Play to the Role of the Financing Guarantee System

Further enhance the service capacity of the financing guarantee system, and intensify the supervision, guidance and policy evaluation on financing guarantee institutions. No less than 80% of services provided by government-backed financing guarantee institutions shall be targeted at science and innovation enterprises, private enterprises, micro and small enterprises. The financing guarantee balance in 2020 should increase by 10% year on year. (Responsible authorities: Beijing Local Financial Supervision and Administration Bureau, Beijing Office of China Banking and Insurance Regulatory Commission, Beijing Municipal Bureau of Finance and Beijing Municipal Bureau of Economy and Information Technology)

V. Establishing a Rapid Response Mechanism of Financial Services

Establish a public service platform for financial services rapid response, give full play to the role of fintech, and further promote smart finance, mobile finance and other service modes of the like. We should look at the diversified demands of private enterprises, micro and small enterprises, science and innovation enterprises, cultural and creative enterprises, among others, for financial services at different stages, address our weaknesses in policy formulation, strengthen the combination of various financial resources, and provide financial services in a comprehensive manner, so as to realize government guidance, direct connection, precision service, and timely feedback. (Responsible authorities: Beijing Local Financial Supervision and Administration Bureau, Operations Office (Beijing) of the People's Bank of China and Beijing Office of China Banking and Insurance Regulatory Commission)

VI. Smoothening Financial Service Channels

Implement the "Online Smooth Financing Program", and provide more intelligent services online through the WeChat Official Account of "Online Smooth Financing Program", so as to effectively promote the connection between financial institutions and enterprises in a timely manner. Establish an online loan renewal mechanism to ensure loan renewals as many as possible and as fast as possible. Promote the integration of the "Online Smooth Financing Program" with the first loan service center, the loan renewal center, the bank-enterprise matchmaking system, and the financial comprehensive service platform for micro and small enterprises, and further improve the efficiency of handling the first loan, loan renewal, credit loan, and medium - and long-term loan. (Responsible authorities: Beijing Local Financial Supervision and Administration Bureau, Beijing Office of China Banking and Insurance Regulatory Commission, Operations Office (Beijing) of the People's Bank of China and Beijing Financial Holdings Group)

VII. Significantly Simplifying the Credit Application Materials

Guide banking financial institutions to optimize their loan approval process and improve their loan approval efficiency. Actively promote the electronic application and handling of financial business, establish an electronic identity authentication information system for enterprises based on the block chain, minimize the credit application materials, and promote mutual recognition of customer application materials to avoid "repeated certification". (Responsible authorities: Beijing Office of China Banking and Insurance Regulatory Commission, Operations Office (Beijing) of the People's Bank of China and Beijing Local Financial Supervision and Administration Bureau)

VIII. Expanding the Application of Fintech in Credit Services

Give full play to the supporting role of Beijing's big data platform, and share the information of real estate registration, tax handling, market supervision and other information closely related to credit with financial regulators and financial institutions. Actively explore innovations in the application of smart approval, online lending and other financial technologies, and launch a batch of pilot projects into the "regulatory sandbox". (Responsible authorities: Beijing Municipal Bureau of Economy and Information Technology, Beijing Municipal Tax Service, Beijing Municipal Administration for Market Regulation, Operations Office (Beijing) of the People's Bank of China, Beijing Office of China Banking and Insurance Regulatory Commission, Beijing Local Financial Supervision and Administration Bureau and Beijing Financial Holdings Group)

IX. Implementing Online Real Estate Mortgage Registration across the Board

Expand the scope of real estate mortgage registration business that can be handled online, shorten the time for review and approval of mortgage loans, and reduce the financing costs of micro and small enterprises. Implement "one-stop" registration of real estate mortgage loans across the board, continue to set the registration service sites in bank outlets, and handle mortgage loans for micro and small enterprises in the mode of "One Department at One time". Improve the loan process, enhance information sharing, and further simplify loan application materials. (Responsible authorities: Beijing Office of China Banking and Insurance Regulatory Commission and Beijing Municipal Commission of Planning and Natural Resources)

X. Piloting Supply Chain Finance in Financial Companies

Rely on the public service platform of the supply chain finance, give full play to the role of financial companies affiliated to large enterprises and groups, provide strong support for eligible financial companies aforesaid to carry out bill discount, receivables factoring and other financial business on the extended industry chain, and support the development of real economy through provision of buyer credit and other financing services. (Responsible authorities: Beijing Office of China Banking and Insurance Regulatory Commission, Operations Office (Beijing) of the People's Bank of China, Beijing Local Financial Supervision and Administration Bureau and Beijing Financial Holdings Group)

XI. Promoting the Financing for Government Procurement Orders

Further promote the synergy between the government procurement platform, the accounts receivable financing service platform and the financial comprehensive service platform for micro and small enterprises, and support financial institutions in carrying out financing based on government procurement orders. Supervise the government procurement departments to cooperate with the financial institutions that provide financing services to target the repayment source, pay the financial procurement funds to the corporate account of the supplier designated by the financial institutions, and share the payment progress information of the government procurement funds with relevant financial institutions in a timely manner. Achieve the goal of increasing the government procurement order financing to RMB 10 billion by 2020. (Responsible authorities: Operations Office (Beijing) of the People's Bank of China, Beijing Municipal Bureau of Finance, Beijing Financial Holdings Group, Beijing Office of China Banking and Insurance Regulatory Commission and Beijing Local Financial Supervision and Administration Bureau)

XII. Increasing the Credit Support to Enterprises Affected by the Pandemic

Actively implement the financial policies such as special re-loans of the People's Bank of China for enterprises affected by the COVID-19 pandemic, set special credit lines for new loans, open green approval channels, and offer preferential interest rates. The credit applications of affected enterprises can be treated as special cases and processed with simplified procedures, so as to ensure timely loan issuance; designate staff to take charge of rentention loans, avoid reducing, ceasing or delaying loans granted to enterprises, and provide loan extension or renewal and lower interests to enterprises unable to make due loan repayments because of this outbreak. Summarize good practices and experience in helping enterprises in difficulty during the COVID-19 fight in a timely manner, and solidify it into a regular mechanism for optimizing the credit business environment. (Responsible authorities: Operations Office (Beijing) of the People's Bank of China, Beijing Office of China Banking and Insurance Regulatory Commission and Beijing Local Financial Supervision and Administration Bureau)