Under the background of increasing downward pressure on economic growth, superimposed factors such as financial deleveraging and external shocks, the survival and development of small and micro enterprises have encountered some difficulties this year, especially the fact that financing is difficult to raise financing has aroused the attention of the society. From the perspective of the central government and various relevant ministries and commissions in the near future, the government attaches great importance to the development of inclusive finance and small and micro enterprises, and targeted policies are being introduced intensively. Intensive cost reduction policy Reducing the financing costs of small and micro enterprises has become one of the most important tasks at present. On August 20th, the first meeting of the State Council Leading Group for Promoting the Development of Small and Medium Enterprises was held in Beijing. The meeting stressed that we must pay close attention to solving the outstanding problems in the current development of SMEs. It is necessary to increase financial support, accelerate institutional innovation and technological innovation, improve incentive mechanisms, strengthen the transmission of monetary and credit policies, and alleviate the problem of financing difficulties. Zhu Hexin, deputy governor of the central bank, said on August 21 that more than 1 trillion yuan of the central bank’s three-time RRR cuts were directed to support the micro-propagation field. On June 23, the central bank and other five departments issued the financial service policy documents for small and micro enterprises, and introduced 23 specific measures such as increasing the amount of loans for reinsurance and re-discounting of 150 million yuan, and reducing the interest rate of small loans by 0.5 percentage points. On June 29th, the central bank and other five departments jointly held a national teleconference on deepening the financial services for small and micro enterprises. The Banking Regulatory Commission also issued the "Notice on Further Improving Credit Services to Enhance the Quality of Service Entity Economy", stressing that it is necessary to vigorously develop inclusive finance and strengthen financial services in small and micro enterprises, "agriculture, rural areas and farmers" and private enterprises. Local governments have also introduced policy measures. Jilin Province recently issued the "Notice on Forwarding the Notice of Further Improving the Financial Discount of the Business Guarantee Loan", increasing the support of enterprises and adjusting the scope of loans for small and micro enterprises. Guangdong Province issued the “Opinions of the General Office of the People's Government of Guangdong Province on Promoting the Scale of Small and Micro-Industrial Enterprises†to introduce nine measures to reduce the burden of newly-increasing industrial enterprises above designated size and enhance corporate financing. Guangxi promulgated the "Notice on Deepening the Policies and Measures Related to Financial Services for Small and Micro Enterprises in Guangxi" and proposed to further guarantee the financing of small and micro enterprises. Three major reasons lead to financing difficult to finance “The problem of financing and financing for small and micro enterprises is a worldwide problem. Even if some advanced models for financing small and micro enterprises appear in some countries or regions, there are still problems that are difficult to be copied and promoted in general. The microfinance business has the embarrassing situation of 'big thunder and little rain.'" Dong Xizhen, a senior researcher at the Chongyang Financial Research Institute of Renmin University of China, said in an interview with the Economic Information Daily. In this regard, he believes that there are three reasons. First, the shortcomings and problems of small and micro enterprises themselves. Small and micro enterprises often have unsound corporate governance, and internal control and financial systems have loopholes, resulting in irregular business processes, and it is difficult for financial institutions to assess the business risks of enterprises. At the same time, small and micro enterprises have poor anti-risk ability and are vulnerable to macroeconomic fluctuations. Second, the business model of financial institutions is not sound. The coverage and penetration rate of inclusive financial services in China are low, and the financial products and service systems that are in line with the development characteristics of small and micro enterprises need to be constructed. Under the traditional business model, the small credit business has the characteristics of “small credit line and many credit granting entitiesâ€, which greatly increases the cost of banking business development. In terms of risk management, financial institutions have not yet established an effective risk management model for small and micro enterprises, which to a certain extent makes the micro-lending business risk too large. Third, the current economic and financial environment has tightened and fiscal and taxation financial policies are not perfect. In the process of reducing macro leverage and strengthening financial supervision, the growth rate of social financing in China has declined, and the risk appetite of financial enterprises has declined, causing accidental injuries to small and micro enterprises. Gao Yuwei, a researcher at the Institute of International Finance of the Bank of China, also said that from the perspective of China in recent years, cost and risk are the key factors affecting the financing of small and micro enterprises. On the one hand, the rising labor costs and rents have increased the pressure on business operations. On the other hand, the financing risks of small and micro enterprises have become more prominent in the context of economic downturn. To alleviate the problem of financing difficulties, it is necessary to systematically design and coordinate advancement. Long-term mechanism still to be built Zhu Hexin said that overall, the effects of relevant policies are gradually emerging. For the next step to solve the financing problem of small and micro enterprises, Gao Yuwei suggested starting from six aspects. First, accelerate the innovation of financial products and services, use new technologies such as big data to alleviate the problem of financing difficulties, and secondly, further improve the micro-finance supervision policy and The financial institution's own system to improve tolerance and incentives; the third is to improve the multi-level financial institution system that serves small and micro enterprises; the fourth is to explore a new and effective guarantee mortgage system, establish a policy guarantee institution, and avoid excessive reliance on commercial guarantees; The fifth is to improve the construction of the social credit system and resolutely crack down on malicious escape of debts; the sixth is to strengthen financial training for small and medium-sized enterprises and improve the awareness and ability to use various financial instruments. Dong Xizhen believes that deepening micro-financial services is a systematic work. Accurately grasping the correct direction and key tasks of deepening the financial services of small and micro enterprises requires top-level design. Government departments, financial institutions and small and micro enterprises need to work together. Comprehensive policy, not only to solve the problem according to the status quo, but also to explore and build a long-term mechanism, and finally achieve the synergy of "several lifts." He believes that, first of all, deepening micro-financial services needs to further enhance the business environment of small and micro enterprises. Therefore, it is necessary to reduce the unnecessary burdens of small and micro enterprises by reforming the systems that are not conducive to the development of small and micro enterprises in taxation, law, and management. Secondly, it is necessary to further improve the top-level design of micro-financial services and incorporate micro-finance into the development plan of inclusive finance. Finally, we must further encourage financial innovation. In the field of small and micro finance, relevant departments can give more space for financial innovation. Chipboard Wall Panel,Particle Board,Decorative Panels Walls,Furniture Particle Board CHANGZHOU ART DECORATION MATERIALS CO.,LTD , https://www.cnartdecor.com
Centralized policies intensively introduce small and micro enterprises
Abstract In the context of increasing downward pressure on economic growth, superimposed factors such as financial deleveraging and external shocks, the survival and development of small and micro enterprises have encountered some difficulties this year. In particular, the difficulty in financing and financing has triggered social concern. From the recent period, the central and all relevant ministries and commissions...