The Ministry of Industry and Information Technology, the People’s Bank of China, the State Financial Regulatory Administration, the China Securities Regulatory Commission and the Ministry of Finance recently jointly issued a notice to organize the “one chain, one policy and one batch” financing promotion action for micro, small and medium-sized enterprises. Centering on the key industrial chain of the manufacturing industry, a “government-enterprise-financial institution” docking mechanism will be established to find out the list of small and medium-sized enterprises in the industrial chain, understand the financing needs of enterprises, encourage financial institutions to combine the characteristics of the industrial chain, based on business expertise, “one chain one policy” to provide targeted diversified financial support measures, and provide high-quality and efficient services to a number of small and medium-sized enterprises in the chain. We will continue to improve the convenience and availability of financing for micro, small and medium-sized enterprises, and increase financial support for their specialized and innovative development.

Notice on launching the “One chain, One Policy and One batch” financing promotion action for micro, small and medium-sized enterprises

Ministry of Industry and Information Technology joint Enterprise Letter (2023) No. 196

Provinces, autonomous regions, municipalities directly under the Central Government and cities separately planned, industrial and information technology departments of Xinjiang Production and Construction Corps, Department of Finance (bureau), Shanghai Headquarters of the People’s Bank of China, branches, business management departments, city central branches of provincial capitals (capital), sub-provincial city central branches, regulatory bureaus of the General Administration of Financial Supervision, regulatory bureaus of the China Securities Regulatory Commission, Policy banks, large banks, joint-stock banks, export credit insurance companies, property insurance companies:

In order to implement the decision-making and deployment of the Party Central Committee and The State Council, according to the work arrangement of the Notice on Issuing the “14th Five-Year Plan” to promote the Development Plan of Small and medium-sized Enterprises (Joint Regulation of the Ministry of Industry and Information Technology (2021) No. 200) and the Notice on issuing several Measures to help small and medium-sized enterprises to stabilize growth and adjust structure and strengthen capacity (the Ministry of Industry and Information Technology Enterprise Letter (2023) No. 4), Accelerate the construction of small and medium-sized enterprises financing to promote a good ecology, promote the high-quality development of small and medium-sized enterprises, the Ministry of Industry and Information Technology, the People’s Bank of China, the General Administration of Financial Supervision, the China Securities Regulatory Commission, the Ministry of Finance and other five departments organized the “one chain, one policy, one batch” small and medium-sized enterprises financing promotion action. The relevant matters are notified below.

I. General requirements

(1) Guiding ideology. Deepen the information docking of industry and finance, promote coordinated policy efforts, and constantly improve the financial mechanism for promoting the development of micro, small and medium-sized enterprises, so as to achieve a virtuous circle of industrial finance.

2. Action objectives. Centering on the key industrial chain of the manufacturing industry, establish a “government-enterprise-financial institutions” docking and cooperation mechanism, find out the list of small and medium-sized enterprises in the industrial chain, understand the financing needs of enterprises, encourage financial institutions to combine the characteristics of the industrial chain, based on business expertise, “one chain one policy” to provide targeted diversified financial support measures, and provide high-quality and efficient services to a number of small and medium-sized enterprises in the chain. We will continue to improve the convenience and availability of financing for micro, small and medium-sized enterprises, and increase financial support for their specialized and innovative development.

Second, work measures

(3) Select key industrial chains and build financing to promote ecology. Local industrial and information technology authorities implement the requirements of “forging long boards, reinforcing weak boards, and strengthening the foundation”, and select the key industrial chains of the manufacturing industry in the region to participate in the financing promotion action. It is necessary to combine the advanced manufacturing cluster, the cultivation of small and medium-sized enterprises’ characteristic industrial clusters, the integration and innovation of large and medium-sized enterprises, the “chain” digital transformation of small and medium-sized enterprises, the integration of industrial Internet into the park’s “hundred cities and thousand parks” activities, and rely on key enterprises such as leading enterprises in the industrial chain and specialized and special “small giant” enterprises. Further sort out a number of high-quality small and medium-sized enterprises that play a strong role in strengthening the chain and stabilizing the chain in the industrial chain, form an industrial chain map or a list of chain enterprises, find out the basic situation of the enterprises in the list, and make a list of financing needs. Promote the establishment of a regular “government-enterprise-financial institutions” docking and coordination mechanism, and invite all kinds of financial institutions to participate in financing promotion actions in accordance with the principle of market and rule of law; On the basis of voluntary autonomy, controllable risks and sustainable business, financial institutions meet the reasonable financing needs of small and medium-sized enterprises on the chain, provide professional financial services in an orderly manner, and jointly build a good environment for small and medium-sized enterprises to finance.

(4) In-depth research and visits to strengthen the collection of enterprise-related information. Local industrial and information technology authorities, together with financial institutions, digital service platforms, small and medium-sized enterprises public service institutions, public service demonstration platforms, etc., to form a special service team. For the key industrial chain, go deep into parks, clusters, enterprises, combined with basic service work, expand and carry out large research and visit activities. Adhere to both management and service, help and development at the same time, small and micro enterprises financing problems “answer questions.” Under the premise of voluntary, compliant and safe enterprises, grasp the new scenarios and new forms of digital transformation of micro, small and medium-sized enterprises, enrich the application of information means, collect information on the production operation, science and technology research and development, project participation, and technological transformation of small and medium-sized enterprises on the chain in multiple ways, deeply understand the development dynamics of enterprises, deepen the understanding of chain to enterprise, and strive to alleviate the problem of information asymmetry.

(5) Optimize credit service strategies and improve the quality and efficiency of credit financing. Based on the understanding of enterprise information and financing needs, banking financial institutions continue to improve the evaluation criteria for enterprises, actively expand financial service scenarios, and combine the characteristics of the specific industrial chain, optimize credit methods, improve service quality and efficiency, and propose targeted financing support programs to benefit a number of small and medium-sized enterprises with common characteristics on the chain. Encourage the head offices of banking financial institutions to take the initiative to optimize the allocation of credit resources, rationally adjust the authority of approval, enrich credit products, refine the assessment mechanism, focus on meeting the financing needs of small and medium-sized enterprises in the chain in terms of production and operation, digital transformation, technological transformation and equipment renewal, international market development, and expand the initial loan, credit loan, non-repayment principal renewal loan, loan with repayment and medium and long-term loan. Local industrial and information technology authorities do a good job in providing information and support, provide guidance and reference for financial institutions to better serve small, medium-sized and micro enterprises in the chain, help financial institutions identify key links and key enterprises, and further provide personalized services with high flexibility and rapid response to ensure the stable operation of the chain and enterprises.