"Opinions of the Communist Party of China on Promoting the Development and Growth of the Private Economy" (hereinafter referred to as"Opinions"After the release, a package of policy measures rushed to the private economy - the People's Bank of China and other eight departments issued 25 specific measures to support the private economy are accelerating the landing; In 2023, there will be two interest rate cuts and two RRR cuts to ensure reasonable and abundant liquidity in terms of total amount and reduce the comprehensive financing cost of society; Tax cuts and fee reductions make enterprises feel full of ......
In 2023, the development of private enterprises has received more attention and expectations. In the new year, private enterprises will have more confidence, stronger motivation and greater enthusiasm for development.
Optimising the financing environment to add confidence to development
In the context of economic globalization and market diversification, financing, as an important driving force to promote the development of enterprises, is directly related to the ability of enterprises to survive and develop. With the continuous optimization of financial policies and the improvement of the financial environment, bank financing is no longer a simple capital lending relationship, but a booster for transformation and upgrading of enterprise development.
Bank support for financial inclusion is so strong that it was unimaginable in previous years. In 2021, Guoshu Technology became'Specialized, special and new'After the company, many bank presidents took the initiative to come to us. "Yuan Guoshu, chairman of Guoshu Technology, said in an interview with a reporter from China Business Times that in the past, we took the initiative to find a bank, and it was difficult to meet the president of the bank. "We have also selectively obtained credit support from several banks, and the company's capital needs for medium and long-term business development have been basically met. "
According to the reporter's understanding, some banks have set up a special corporate service team to communicate with enterprises through various channels such as the Internet and the Internet, inquire about their financing needs, and provide personalized financial solutions. This kind"Door-to-door service"The model greatly enhances the initiative and timeliness of banking services, so that enterprises can get timely financial support when facing development opportunities.
Since the release of the "Opinions", various localities and departments have introduced a series of measures to solve the problems faced by private enterprises. In particular, since the convening of the ** Financial Work Conference at the end of October 2023, all localities and departments have actively implemented the spirit of the conference and promoted finance to provide high-quality services for economic and social development.
Huaxia Bank has increased the tilt of credit resources and provided full credit resource support for the financing of qualified private enterprises. It is worth mentioning that Huaxia Bank has improved the assessment mechanism, incorporated the financing services of private enterprises into the assessment system of the national development strategy indicators of branch services, and increased credit support for private enterprises.
We offer FTP (Internal Funds Transfer**) pricing support. For inclusive loans, small and micro loans with a total credit of 10 million to 30 million yuan, and the state'Little Giant'and provincial-level specialized, special and new list of enterprise customer loans, head office and branch-level manufacturing whitelist customers to give FTP pricing discounts. "In an interview with a reporter from China Business Times, the relevant person in charge of the business department of Huaxia Bank said that in order to better undertake monetary policy tools such as re-lending and re-discounting, Huaxia Bank has established a monetary policy implementation mechanism, requiring all departments to do a good job in the research and combing of their own professional monetary policy, grasp policy opportunities, actively implement monetary policy requirements, and promote credit delivery in key areas such as inclusive small and micro enterprises, green development, and scientific and technological innovation.
On January 2, 2024, it was held at the National Development and Reform Commission"Innovative development'Jinjiang experience'Conference on Promoting the High-quality Development of the Private Economy"The relevant person in charge of the People's Bank of China said that it is necessary to gradually increase the proportion of loans to private enterprises and increase credit to private enterprises in key areas.
The person in charge said that in recent years, financial support for the development of the private economy has achieved positive results. In terms of monetary policy, the People's Bank of China (PBoC) has lowered the reserve requirement ratio several times, increased support for re-lending and re-discounting, and created inclusive small and micro loan support tools to strengthen the supply of funds. The current total refinancing balance is more than 22 trillion yuan. In terms of credit policy, we will carry out a project to improve the financial service capacity of small, medium and micro enterprises, improve the financial service system, and enhance the stability of private loans. As of the end of November 2023, the balance of loans to privately held companies was 412 trillion yuan, a year-on-year increase of 104%；The balance of inclusive small and micro loans is 289 trillion yuan, with an average annual growth rate of more than 25% in the past five years. In terms of the bond market, China has innovatively launched bond financing support tools for private enterprises and extended their expansion, supporting 140 private enterprises to issue bonds of 243.8 billion yuan. In the next step, the People's Bank of China will improve the accuracy and effectiveness of financial services for the private economy.
With the continuous optimization of the financial environment, private enterprises will usher in a broader space for development.
Financial innovation adds vitality to development
In 2023, financial institutions will spare no effort to accelerate product and service innovation, solve problems such as difficult and expensive financing for enterprises, introduce financial vitality to enrich the economy, and stimulate the development vitality of private enterprises.
Yuan Weijia, deputy general manager of the science and technology finance department of WeBank, said in an interview with a reporter from China Business Times that in addition to serving private small, medium and micro enterprises and technology-based small and medium-sized enterprises with universal pure credit loan products, micro business loans, science and technology innovation loans, etc., so that more private enterprises can enjoy efficient and convenient online financing services, it also provides diversified financing services for private enterprises and more technology-based small and medium-sized enterprises through the introduction of intellectual property pledge financing services, and broadens corporate financing channels. As a new financing model that can effectively alleviate the initial financial pressure of micro, small and medium-sized enterprises, intellectual property pledge financing is strongly supported by various policies.
At present, the service objects are mainly concentrated in individual industrial and commercial households and small and micro business owners, accounting for about 90% of the number, forming a complementary service pattern with large state-owned banks. "Yang Chun, head of the small and micro finance department of Xinwang Bank, said that Xinwang Bank has always adhered to it since its establishment"Pratt & Whitney Fill-in"Adhere to innovation-driven, and give full play to the role of digital technology in improving the quality and efficiency of small and micro financial services.
The reporter learned that the supply of compliant finance in the medical industry is seriously insufficient, resulting in low financial penetration and coverage in the industry. After more than half a year of in-depth market research, Xinwang Bank found that due to the deep binding of medical insurance settlement in the medical industry, the payment of medical institutions, especially public hospitals, often has a long account period, and the small, medium and micro enterprises engaged in medical circulation take goods from upstream manufacturers"Pay first, then goods", and even need to pay part of the payment in advance, which means that these enterprises need to advance a large amount of capital to maintain normal operation. Since most of the circulation enterprises are asset-light operations, they generally do not purchase fixed assets such as factories, and can basically only obtain a small amount of loans through the mortgage of personal real estate by business owners or shareholders.
However, it is often difficult to meet the daily business needs of enterprises, so private lending and project-affiliated platforms have become more common financing methods in the medical industry. To this end, Xinwang Bank has developed and launched a first-chain financial product tailored for the medical industry. The product adopts:"All online, contactless"Through the control of capital flow, contract flow and logistics, it has truly realized the innovative service model of replacing the main credit credit with transaction credit data, and better solved the financing problems of the circulation industry.
At present, it is not only necessary to help small and micro enterprises with basic financial business services, but more importantly, to empower them, including financial capabilities and enterprise management capabilities, so as to better establish the healthy and sustainable viability and ecology of small and micro enterprises. On the one hand, banks and financial institutions will continue to increase investment in credit resources to help the development of the private economy, especially in emerging fields and innovative projects. At the same time, it is also necessary to deepen the construction of the bond market system and smooth the bond financing channels of private enterprises; We should give better play to the role of the multi-level capital market and expand the scale of equity financing of high-quality private enterprises"A few lifted"The combined force helps the situation.
The Action Plan for Increasing Efforts to Support the Financing of Science and Technology Enterprises also mentions that it is necessary to provide diversified relay financial services for science and technology enterprises throughout the life cycle and accelerate their formation"Equity, loan and debt insurance"Linkage financial service support system.
In order to support science and technology enterprises, financial institutions are also helping them with the power of finance"Acceleration run"。Yuan Weijia told reporters that the current primary market is entering the era of hard technology, and the new scissors gap of science and technology capital leverage is forming, and more funds will flow to science and technology enterprises by guiding equity and debt financing, and promoting the research and development and production of high-tech industries, which will enable China to accelerate industrial upgrading. There are nearly 1.88 million technology-based micro, small and medium-sized enterprises in the country, with a debt financing demand of 100 billion yuan, and the demand for equity financing has reached more than 100 billion yuan, with broad prospects.
As a result, WeBank to:"Technology + Data + Model"Created a digital venture capital service for the drive and launched"Micro Ventures"Innovate the venture capital platform to realize dual online services for equity financing information viewing and equity financing docking. Yuan Weijia introduced that the micro-venture capital platform provides convenient and transparent information query and display tools for technology-based small, medium and micro enterprises, so that enterprises can get rid of the information disadvantage position relative to investment institutions and obtain the opportunity to communicate with institutions on an equal footing. For investment institutions, big data can be used to empower investment and financing analysis, improve business efficiency, and assist in due diligence to improve the efficiency of bilateral due diligence.
Tax cuts and fee reductions have added impetus to development
Since 2023, focusing on R&D investment and key industrial chains, the state has continued to optimize and improve preferential tax policies, and the tax department has continued to optimize tax measures, give full play to the advantages of tax big data, continue to increase policy push, and carry out precise policy push to ensure that business entities fully enjoy preferential tax treatment.
According to the statistics of the State Administration of Taxation, from January to November 2023, there will be 18,125 new tax reductions and fee reductions and tax refunds and deferrals nationwide0.9 billion yuan, of which 1,337.1 billion yuan was added to tax reductions and fee reductions and tax refunds and deferrals by taxpayers in the private economy (including private enterprises and self-employed businesses), accounting for 738%。
As the main beneficiary of preferential tax policies, the momentum of innovation and development of the private economy has been enhanced, which will help stimulate market vitality and develop endogenous power.
In 2023, Guoshu Technology will enjoy the policy of additional deduction of R&D expenses, and there will be a reduction and exemption in corporate income tax. Yuan Guoshu told reporters that the policy of additional deduction of R & D expenses supports Guoshu Technology to increase R & D investment, improves the ability of independent innovation of enterprises, and enhances the development stamina of enterprises, which is an effective policy for enterprises.
The tax refund policy of the tax department reduces the pressure on the operating costs of enterprises. "Chen Kunyuan, chairman of Jiangxi Bingge Food Group, said in an interview with a reporter from China Business Times.
* The Economic Work Conference pointed out that the implementation of structural tax and fee reduction policies should be implemented, focusing on supporting scientific and technological innovation and the development of manufacturing industry.
Li Tianzhi, chairman of Guangdong Daqi Financial and Tax Consultant, said in an interview with a reporter from China Business Times that tax cuts and fee reductions have shifted from inclusive and large-scale to structural, improving accuracy and pertinence. Private enterprises in the high-quality development field supported by the state have received significantly greater financial support. In particular, the first economic work conference proposed that fully stimulating the endogenous power and innovation vitality of various private entities is one of the nine key tasks of economic work. "It is expected that promoting the development and growth of private enterprises will be the top priority of reform work in 2024. "
In 2023, the policy direction for private enterprises will be consistent, especially in terms of reducing financing costs, reducing taxes and fees. This coherence can help to provide clearer and more tangible policy support. "Cong Yi, vice president of Tianjin School of Administration, said in an interview with a reporter from China Business Times that the development of China's private economy mainly relies on small and medium-sized enterprises, and private enterprises account for 90% of the total number of enterprises. The focus and tendency of the policy are mainly aimed at small and medium-sized enterprises, aiming to promote the healthy development of the private economy.
Reducing financing costs provides a level playing field for SMEs, which broadens the development space for SMEs in the domestic market. Financial policies continue to increase tax and fee reductions, reduce financing costs, and support scientific and technological innovation and entrepreneurship, which will have a positive impact on the development of the private economy in the future. "Cong Yi said that he is optimistic about the consistency of policy direction and the future development of small and medium-sized enterprises, and the economic outlook is also positive and optimistic.
Chen Kunyuan said that the company is mainly engaged in agricultural retail, and every step is inseparable from the help of the first step to this day. For small and medium-sized enterprises, the first major problem they face is the difficulty of funding and the establishment of financial institutions"Whitelist"A series of preferential measures for enterprises have effectively reflected the financial support for enterprises. "Next, I will take the lead in taking root in the front line, to understand all aspects of business operation, and to make myself become'Understand people'。"
Under the guidance of the national inclusive financial policy, the financial policy has continued to flow into private technology-based small and medium-sized enterprises. "Yuan Guoshu told reporters that the combination of financial policies can help enterprises engage in research and development, expand markets, and promote development without distraction. Guoshu technology is being implemented in depth"Concentric diversity"Development strategy, that is, to take popular science as the core, develop popular science products, and expand the application in different scenarios. "At all levels, private enterprises should be more confident and determined, have the courage to face difficulties and challenges, grasp the favorable policies, and strive to achieve new development achievements. "