Since the outbreak of the epidemic, the financial sector has continued to introduce policy measures to support small and medium-sized enterprises in difficulty and to fight against the resumption of work and resumption of production.
The People's Bank of China has invested 800 billion yuan in special reloans, and the effect is gradually showing; the CBRC will take epidemic prevention and control and corporate development as the most important work and become the main force of financial support; the Banking Association actively takes action, policy banks large and medium-sized banks give full play to their advantages Actively help difficult companies to get out of their difficulties; the bond market continues to expand, becoming the second largest source of corporate financing in addition to loans.
Significant effects of special reloan policies
The central bank set up a special RMB 300 billion re-loan on January 31 this year to play an active role in supporting epidemic prevention and control. Sun Guofeng, director of the Monetary Policy Department of the People's Bank of China, said that as of March 13, the People's Bank of China had issued a special reloan of 184 billion yuan.
Judging from the results, the key enterprises on the list from January 25 to March 10 produced 1.6 billion masks, 87.79 million pieces of protective clothing, 4.21 million goggles, 10.29 million copies of virus detection reagents, and 4,143 negative-pressure ambulances. . Special reloans also provide financial support for some key projects. At present, the tension of medical supplies has been significantly relieved, the supply of living materials is sufficient, and the special refinancing policy has achieved significant results.
According to the reporter's understanding, the central bank subsequently added another 500 billion yuan in special reloans and rediscounts.
Sun Guofeng said that the 300 billion yuan special reloan was directly used to support epidemic prevention and supply, and was used to save first aid. The 500 billion yuan re-loaning and re-discounting policy has reduced the interest rate of small re-loans for agricultural and agricultural support. The focus is on supporting the resumption of production and resumption of production, poverty alleviation, spring ploughing, livestock breeding, and foreign trade. As of March 13, local corporate banks have issued a total of 107.5 billion yuan in preferential interest loans.
On March 13, the central bank released 550 billion yuan of targeted long-term funds, of which 400 billion yuan of long-term funds were released for banks that met the criteria for inclusive financial directional reduction standards, and one additional targeted reduction was made for eligible joint-stock commercial banks. Release of 150 billion yuan of long-term funds. This move directly supports the real economy.
Provide credit support over 1.4 trillion
According to the relevant person in charge of the CBRC, since the CBRC issued a notice on January 26, as of now, 9 documents have been issued separately or jointly with other departments. The most recent one was jointly issued with the five departments including the People's Bank of China on March 1 Notice of temporary extension of repayment of principal and interest on corporate loans.
Ye Yanfei, first-level inspector of the Policy Research Bureau of the China Banking Regulatory Commission, said that the Banking Regulatory Commission has been doing these policies recently: strengthen supervision and supervision to ensure that qualified small and micro enterprises and farmers will not delay resumption of work or resume production due to insufficient financial services. Prepare for farming; guide banks to perform list-based management of enterprises that need to defer repayment and interest payment arrangements; strengthen tracking and monitoring, and give guidance for poor implementation; promote mutual reference by banks, and better support enterprises to resume work and resume production and spring farming.
According to statistics, the credit support provided by banking financial institutions to fight the epidemic has exceeded 1.4 trillion. From January to February, the credit line increased by about 130 billion yuan year-on-year.
Ye Yanfei said that in the next step, the China Banking Regulatory Commission will focus on supporting private enterprises, small and micro enterprises that have been affected and affected by the epidemic, especially in transportation, wholesale and retail, cultural entertainment, accommodation and catering industries.
Second is to better support the resumption of production and resumption of production, especially to encourage banking institutions to increase liquidity loans; strengthen the support of industrial chain coordination, and increase support for core enterprises in the industrial chain. At the same time, around the core enterprises to better support upstream and downstream SMEs, and form support for the entire industry chain ecology.
In addition, increase support for major projects. Major projects often involve many industries such as civil construction, installation, equipment, and instrument procurement, which can drive the entire industry; according to the actual situation, better support new consumption and consumer recovery through consumer credit.
Opening special channels for epidemic prevention
Zhan Dongsheng, deputy governor of the Agricultural Bank of China, said that the Agricultural Bank of China has adopted various measures to support epidemic prevention and control and the resumption of production and business.
Reduce the approval process, waive related fees, deferred repayment of principal and interest, reduce loan interest rates, and secure financing needs.
For the affected by the epidemic situation, the principal and interest cannot be repaid for the time being, the overdue payment, the penalty interest collection, the risk classification, the customer classification level is not lowered, and the bad credit is not counted. At present, a total of 130 million yuan of loans for 252 small and micro enterprises have been extended, 489 million of micro and small enterprises have adjusted their repayment plans for loans of 870 million yuan, and 6.29 billion yuan of loans for 933 small and micro enterprises have been renewed.
Separate loan schemes, fully matching and guaranteeing credit scale. Optimize credit policies, decentralize approval authority, and improve approval efficiency. Clients are required to conduct a survey once and complete the supplementary information once, and the small and micro enterprises on the national list ensure that they are settled within one to two days. At the same time, we will implement interest rate reduction, fee reduction, and profit sharing policies, and strive to reduce the financing cost of inclusive small and micro enterprises across the bank by more than 0.5 percentage point this year.
As a policy bank, the Agricultural Development Bank also makes a difference. Lin Li, deputy governor of the Agricultural Development Bank, said that the Agricultural Development Bank strives to play a good role in policy finance. As of March 14, a total of 1649 epidemic prevention enterprises were supported with emergency loans of 53.5 billion yuan; 2650 enterprises resumed work and production with loans of 137 billion yuan, of which 78% were small, medium and micro enterprises.
Take a number of measures to implement the special reloan policy of the People's Bank of China. Lin Li said that the Agricultural Development Bank of China opened the emergency channel for epidemic prevention as soon as the epidemic occurred. We will give prominence to key enterprises and regions in epidemic prevention, and on March 12, we will take the lead in completing the first 15 billion yuan of special re-loan loans issued by the People's Bank of China. So far, 16.4 billion yuan of special loans have been issued to 357 epidemic prevention enterprises.
Issuance of 236 epidemic prevention and control bonds
After the outbreak, the China Banking Association issued 15 measures in a timely manner, and proposed to provide high-quality, efficient and efficient financial services to comprehensively help prevent and control the outbreak. This includes proposing banks to set up corresponding leadership agencies led by bank leaders to coordinate epidemic prevention and control work; to formulate emergency plans; to issue emergency loans or special loans to areas with severe epidemics, to grant special interest rates, and to reduce or reduce related formalities.
Encourage medical personnel, government workers who have participated in the prevention and control of the epidemic, and those who have temporarily lost their income source due to the epidemic. If personal loans or credit card overdrafts are overdue, the repayment period shall be reasonably postponed. List; open green channels, provide emergency financial services such as emergency cash withdrawal, fund transfer, and provide on-site financial services when necessary.
Advise banks to donate money to charitable organizations in severely affected areas such as Wuhan. According to the China Banking and Insurance Regulatory Commission's disclosure on February 27, the total donations and contributions of bank insurance institutions exceeded 2.5 billion yuan.
In addition, actively play the financing function of bonds. According to the March 11 announcement by the Central Bank and the China Securities Regulatory Commission, in January 2020, China's bond market custody balance reached 100.4 trillion yuan, and its products covered government bonds, local bonds, financial bonds, corporate credit bonds, interbank certificates of deposit, and panda bonds.
In 2019, the net financing of corporate sector bonds accounted for nearly 13% of the total social financing scale, becoming the second largest channel for entities to obtain funds other than loans.
Since the outbreak, the People's Bank of China and the China Securities Regulatory Commission have actively adopted a number of measures to support the prevention and control of the epidemic and economic and social development. These include: establishing a "green channel" for bond issuance, extending the validity period of bond issuance quotas, and rationally adjusting the time limit for information disclosure. Increase the issuance and exemption of the issuance, registration, trading, and custody fees of institutions affected by the epidemic.
As of March 10, 2020, a total of 236 epidemic prevention and control bonds and 209.5 billion yuan have been issued for procurement and production of protection and medical supplies, construction of epidemic prevention infrastructure and hospitals, livelihood security, and price stability.