Investment Community News, December 8, 2023Relief and development of private enterprises**The signing ceremony was held in Beijing. The development of private enterprises is the first to be bailed out91 Technology Group, Jiurong Family Office, Beijing Internet Finance Industry AssociationCo-founded, ** scale2 billionIt aims to provide comprehensive services and support for local debts and enterprises in operational difficulties, and help market players to solve difficulties and promote economic stability and upward movement through debt restructuring, financing and other diversified financial means.
According to data from the Ministry of Finance, as of the end of June 2023, the balance of local ** debt across the country was controlled within the limit approved by the National People's Congress of 38 trillion yuan. In order to deal with local debt risks, relevant departments and social relief agencies need to jointly take measures to actively support local governments to resolve debt risks in a prudent manner, so as to ensure the sound and sustainable development of the financial market.
In terms of private enterprises, affected by the epidemic, many enterprises have fallen into operational difficulties in recent years, especially in manufacturing, service and other industries, and some are even on the verge of bankruptcy. This will not only lead to labor disputes and labor disputes, but also affect people's livelihood. In order to meet this challenge, the intervention of professional bailout agencies has become particularly important. They will help enterprises get out of the predicament and enter the track of healthy development through stronger, more targeted and more targeted relief measures, and inject more surging development momentum into high-quality economic and social development.
In order to effectively help resolve local debt risks and solve the difficulties encountered in the development of private enterprises, and further help market players tide over the difficulties, it is decided to establish a 2 billion scale of private enterprises to bail out and develop, which will provide relief services for private enterprises through a variety of financial channels, improve their operation and management, enhance their operating capabilities, and improve the risk control system to provide all-round support.
At the signing ceremony,Xu Zewei, chairman of 91 Technology GroupHe said that the current economic development is facing the triple pressure of demand contraction, supply shock, and weakening expectations, and some local debts and the majority of market entities are in urgent need of relief. For a period of time, all localities have actively implemented the first-class deployment and requirements, and intensively issued policies to help enterprises bail out. 91 Technology Group is a technical service-oriented enterprise driven by big data and cloud computing, and the joint development of private enterprises jointly established by the Jiurong Family Office and the Northern Mutual Finance Association will help local debts and market entities get rid of difficulties, and have a positive role in promoting the current economic situation.
Gao Junqiang, chairman of the Nine Banyan Family OfficeHe said that Jiurong Family Office focuses on bailing out distressed enterprises, asset allocation in the Middle East, investment management and other businesses. The establishment of the bail-out and development of private enterprises will strongly support the real economy, especially to reduce the pressure on the development of private enterprises out of difficulties, help to achieve the goals of protecting market entities, employment and people's livelihood, and win the double victory of financial risk resolution and economic and social development.
*: Beijing Internet Finance Industry Association WeChat***
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