Third, on deepening industrial and financial cooperation, building a top-level structure for financial services to the real economy

First, create new models of supply chain finance. In 2020, our Ministry and the People’s Bank of China issued the Guiding Opinions on Further Strengthening Financial Services for Micro, Small and Medium-sized Enterprises, supporting micro, small and medium-sized enterprises to carry out supply chain financing services, and encouraging the development of supply chain financial products such as orders, warehouse receipts, inventories, and accounts receivable financing. In February 2020, the All-China Federation of Industry and Commerce, together with relevant associations and financial institutions, launched the “Non-Contact Loan Assistance Program”, which has served a total of 20.9969 million customers and issued 872.169 billion yuan in loans to help private enterprises, especially micro, small and medium-sized enterprises, resume work and production.

Second, deepen cooperation between industry and finance. Together with the Ministry of Finance, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and other departments, the Ministry organized the declaration of the second batch of industrial and financial cooperation pilots to further enhance the ability of financial services to the real economy.

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The All-China Federation of Industry and Commerce issued the Opinions of All-China Federation of Industry and Commerce on Promoting Private Enterprises to Accelerate the Development of Digital Transformation, proposing to build a financing service platform for the digital transformation of private enterprises, expand the scope of cooperation of financial institutions, guide financial institutions to innovate services, and provide more innovative products and services for the digital transformation of private enterprises.

Third, we will improve our ability to serve the real economy. In 2020, the Ministry issued the Notice on Doing a good job in the Listing Cultivation of High-quality smes, giving full play to the function of the capital market to serve the real economy, accelerating the listing cultivation of high-quality smes, and promoting the organic combination of the development of smes and the capital market. In April 2021, the China Banking and Insurance Regulatory Commission issued the Notice on Further Promoting the High-quality Development of Financial Services for Small and Micro Enterprises in 2021, requiring banking and insurance institutions to develop financial products and service models to meet the financing needs of enterprises such as technology research and development and achievement transformation.

In the next step, our ministry will continue to strengthen cooperation with the Banking and Insurance Regulatory Commission, the National Federation of Industry and Commerce and other departments, first, strengthen the innovation of industrial chain supply chain finance, promote the development of financial products such as supply chain finance, and cooperate with relevant departments to optimize financial services. The second is to further do a good job in industry and finance cooperation, cooperate with the National Federation of Industry and Commerce to implement the Opinions of the National Federation of Industry and Commerce on Promoting Private Enterprises to Accelerate the development of Digital transformation, strengthen cooperation with digital transformation service providers, and promote the development of private platform enterprises. Third, continue to actively cooperate with relevant departments, do a good job of policy publicity, guide service work, help private enterprises through digital transformation, enhance financing capacity, alleviate financing difficulties, and promote financial resources to better serve the high-quality development of the real economy.