How should the financial industry better serve the productivity of science and technology

At the Central Financial Work Conference held not long ago, it was clearly pointed out that finance is the blood of the national economy and an important part of the country’s core competitiveness. In terms of optimizing financial services, the meeting proposed to focus on the “five major articles” of science and technology finance, green finance, inclusive finance, pension finance, and digital finance, and put science and technology finance in the first place.

“Finance should also serve scientific and technological productivity and further play its role.” Science and technology finance is about whether China’s manufacturing industry can remain strong, whether the technology can lead the international level, whether it can eliminate the “jam neck” problem in the field of advanced technology as soon as possible, and finance needs to vigorously support scientific and technological innovation. On this issue, there are some new banks that are born with technology genes and Internet genes, and have begun practical attempts.

As a leading digital bank in China, WeBank has always ACOPOS 1090 practiced the mission of “making finance inclusive to the public”, and played its digital technology expertise to help small and micro inclusive finance and support the development of the real economy. In the context of the difficulties of the financial industry and the manufacturing industry, according to the data of WeBank, the manufacturing industry accounts for 24% of the customers of WeBank’s micro-industry loan, which is an amazing figure. To explore the reasons behind it, it is inseparable from WeBank’s deep cultivation in serving the real economy, small and micro inclusive finance, and the full use of digital means such as digital big data risk control.

On the one hand, it makes full use of digital means to make the expansion of small and micro financial services more available. Especially in the aspect of risk control, it effectively solves the problem of high risk cost, can better solve the problem of information asymmetry, and reduce the user’s use threshold. Micro constructed around the enterprise and business owners in the bank risk of the double dimension of the whole process of the digital control system, not only based on the credit evaluation of business owners personal dimensions, ACOPOS 1090 there is also a combination of silver, silver business interaction provide tax, tax interaction of industry and commerce, credit reporting, justice, power, etc can be used for the evaluation of enterprise credit solvency credible data by a third party, and in more than one link set up multiple model, More accurately assess the repayment ability and risk status of enterprises, so as to more accurately carry out credit business for small and medium-sized enterprises in manufacturing. In the service of small and micro enterprises in the manufacturing industry, it can also combine the macroeconomic situation and policy orientation, through a series of leading indicators such as the tax, financial data and social security data of enterprises, and flexibly adjust the credit management policy from the dimensions of industry, region and customer group. This also allows WeBank to solve the risk management problems that have plagued the industry for a long time for small, medium and micro enterprises in manufacturing.

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One of WeBank’s early customers was a CNC machine tool company in Shenzhen. As a typical “specialized special new small giant” enterprise, its CNC machine tool products have high scientific and technological advantages and product advantages, not only in the domestic aerospace Science and Industry Group, AVIC, Chinese Academy of Sciences, Tsinghua, Southern University of Science and Technology and other military units, research institutes and other cooperation units, but also sold to 16 overseas countries. The founder of the company described his impression of WeBank’s service this way, “Webank’s loan products give me the impression of ‘fast’, ‘accurate’ and ‘ruthless’. The approval speed is fast, the credit is accurate, and the business model is ruthless: borrow and repay, very timely.”

On the basis of such a high proportion of manufacturing customers, WeBank has extended the differentiated “technology finance” service for scientific, small, medium and micro enterprises and strategic key industries with the micro-industry loan model as the core, and the “supply chain finance” service ACOPOS 1090 that fits the characteristic financing needs of small and micro enterprises in the upstream and downstream of the supply chain, and focuses on high-end manufacturing enterprises to carry out more in-depth service exploration. We have innovated and implemented a series of products and services that serve micro, small and medium-sized enterprises, especially those in manufacturing.

In order to support the growth of micro, small and medium-sized enterprises and serve the development of the real economy, WeBank has launched the corporate financial brand “Micro enterprises +” to create a full-link business service ecosystem, providing the majority of micro, small and medium-sized enterprises with credit, discount, insurance, financial management, account management and other digital enterprise services and products, to meet the full range of service needs of enterprises, and help micro, small and medium-sized ACOPOS 1090 enterprises digital transformation and upgrading. At the same time, Wemass enterprise + also provides talent recruitment, digital venture capital, publicity and promotion services, which can better provide comprehensive support for small and medium-sized enterprises in the manufacturing industry, such as capital, talent, resources and other needs for different growth cycles, and help enterprises focus on the main business and drive development with innovation.

Wemass Enterprise + is committed to growing together with small and medium-sized enterprises, and in the digital transformation and upgrading of the manufacturing industry, from “manufacturing” to “intelligent manufacturing”, Wemass enterprise + will provide strong digital support for the operation of more small and medium-sized enterprises in the manufacturing industry, smooth the road to digital transformation of enterprises, jointly build a modern industrial system, and serve the development of the real economy.

Conclusion:

When it comes to the relationship between the financial industry and the manufacturing industry, the research of Lin Yifu, an economist, academician of the Academy of Sciences of developing countries and professor of the National School of Development of Peking University, shows that only when the financial structure matches the structure of the manufacturing industry, can the financing needs of enterprises be effectively met and the growth of the manufacturing industry be promoted. At the critical moment when China’s manufacturing industry is changing cages and transforming and upgrading, China’s financial industry is also facing such structural adjustment needs. What to do and how to do it are all being explored, and the practice of WeBank may bring some feasible directions for more people to think.