People's Daily: How does the capital flow to the real economy?

Original title: RMB loans issued by financial institutions to the real economy increased by 13.9 trillion yuan in the first three quarters. How does the capital flow to the real economy?

Economy is the body and finance is the blood. Both thrive. According to the data recently released by the People's Bank of China, in the first three quarters, financial institutions issued RMB loans to the real economy 13.9 trillion yuan, an increase of 1. 1 trillion yuan year-on-year, focusing on infrastructure, manufacturing, private enterprises, small and micro enterprises and other key areas.

Financial flowing water is smooth, stimulating the vitality of the real economy. Recently, reporters came to Zhejiang, Shandong, Anhui and other places to investigate how the financial industry serves the real economy and explore how to improve the long-term mechanism to further enhance the ability of financial institutions to serve the real economy.

The structure of "quantity" increasing and "price" decreasing is very good.

Advanced manufacturing, private small and micro enterprises, people's livelihood, agriculture, rural areas and farmers and other key areas and weak links have received more and more financial support.

Ou Long Pump Industry Co., Ltd. is located in Wenling, Zhejiang, and the pump industry is a local characteristic industry. "A few years ago, the production mode of enterprises was simple assembly and processing. In this mode, the skill of workers directly affects the quality of products, and the return rate of pumps once remained high. " Zhang Jianjun, head of the company, recalled.

After understanding the situation, Taizhou Bank Wenling Daxi Sub-branch provided loans to help enterprises transform and upgrade, with a comprehensive credit line of 4.5 million yuan. After the funds were put in place, Zhang Jianjun carried out technical transformation on the painting workshop, coil workshop and installation workshop, which greatly improved the production efficiency of the enterprise, with an output value of more than 70 million yuan last year. "Without financial support, the transformation and upgrading of enterprises will not be so smooth!"

"In order to better serve the real economy, the relevant departments have made great efforts to launch a number of initiatives and achieved remarkable results." Ceng Gang, deputy director of the Finance and Development Laboratory, said that since the beginning of this year, the proactive fiscal policy and prudent monetary policy have continued to exert their strength, the financial services to the real economy, especially private and small and micro enterprises, have been continuously strengthened, and the "obstruction" of the flow of living financial water to the real economy has gradually opened.

Ceng Gang said that in terms of the total amount, the prudent monetary policy is moderately tight, and the flexible use of monetary policy tools such as deposit reserve ratio and open market operation has kept the market liquidity reasonably abundant and the scale of social financing reasonably increased, providing a good monetary and financial environment for high-quality economic development. From the price point of view, in the first eight months of this year, the interest rate of new loans for small and micro enterprises was 6.8%, which was 0.59 percentage points lower than the annual average of 20 18. In August, the central bank announced the reform and improvement of the formation mechanism of LPR (loan market quotation rate), which actually depressed the market interest rate and benefited the real economy.

"While maintaining a moderate total, the financial supply structure is also being optimized, and key areas and weak links such as advanced manufacturing, private small and micro enterprises, agriculture, rural areas and people's livelihood have received more and more financial support." Ceng Gang said that it depends on the precise efforts of structural policies, such as targeted reduction of the deposit reserve ratio and TMLF (targeted medium-term lending tool). Regulatory requirements such as a 30% increase in the loan balance of large banks' inclusive small and micro enterprises compared with the beginning of the year have also effectively guided the investment of credit funds.

Under the "precise drip irrigation" of financial flowing water, the bones and muscles of the real economy are stronger.

-increase financing for key areas such as private enterprises, small and micro enterprises and advanced manufacturing industries.

By the end of September, ICBC had lent more than 65,438+0 trillion yuan to private enterprises in the real economy, such as manufacturing, software and information technology, and scientific research services. Hu, a senior expert in the financial business department of China Industrial and Commercial Bank of China, said that in terms of resource allocation, ICBC had increased its preference for private enterprises, giving preferential funds to departments that provide loans to advanced manufacturing private enterprises, and the price of loan funds had come down, which reduced the financing cost of enterprises from the source.

The data shows that as of the end of September, the balance of Pratt & Whitney small and micro loans and private enterprise loans increased by 23.3% and 6.9% respectively. The balance of medium and long-term loans in manufacturing industry increased by 1 1.3% year-on-year, among which the balance of medium and long-term loans in high-tech manufacturing industry increased by 4 1.2% year-on-year.

-support the development of weak links such as infrastructure construction and people's livelihood in agriculture, rural areas and farmers.

"No need to find a guarantor anymore, the little red book really works!" Yin Yurong, a farmer in Xiaogang Village, Fengyang, Anhui Province, successively borrowed nearly 400,000 yuan from the County Agricultural Bank, which revitalized the low-yield fields in the village and developed the rice and shrimp industry.

The "little red book" in Yin Yurong's mouth is the stock certificate. Ma Wujun, deputy secretary of the Party Committee of Xiaogang Village, said that the village has set up a collective asset joint-stock cooperative to issue share certificates. "Villagers get global credit with stocks. As long as the share certificate is pledged to Xiaogang Village Innovation and Development Co., Ltd., you can apply for a loan of 3,000 yuan to 300,000 yuan from the County Agricultural Bank. "

"Rural financial services have played an important role in promoting agricultural production, rural economic development and increasing farmers' income, and are an important part of financial services in the real economy. Dong Ximiao, chief researcher of Wangxin Bank, believes that rural finance is one of the focal points of rural revitalization, and should be based on the needs of new agricultural business entities and innovate financial business models and products and services.

Establish and improve a long-term mechanism

The financial information service platform accurately connects supply and demand, and the due diligence exemption mechanism still needs to be improved.

"I thought the first loan was complicated and took a long time, but after this loan, I completely changed my mind." Huang Yongchao, general manager of Shandong Dezhou Sheng Bang Sports Group Co., Ltd. said with deep feelings.

Sheng Bang Sports is a high-tech enterprise specializing in designing, developing and manufacturing SMC polymer composite products. This year, due to the adjustment of business strategy, the production scale has expanded and the capital turnover pressure has increased. Enterprises have never lent money before, how to deal with banks? Huang Yongchao was at a loss.

"By chance, I learned that the province had built a financing service network system, so I tried to publish financing information in the' Corporate Financing Demand Collection' section of the' Shandong Government Service Network'." Huang Yongchao said that I didn't expect Dezhou Bank to find the financing needs of enterprises through the platform and immediately come to the door to give the company a credit of 6,543,800 yuan. "It only took 10 days from the release of financing demand to obtaining a loan, which is really convenient!"

One of the biggest troubles for financial institutions to serve private enterprises and small and micro enterprises is information asymmetry, but this situation is slowly changing. In many parts of the country, various financial information service platforms are constantly emerging, setting up a "bridge" between banks and enterprises:

Recently, the Development and Reform Commission and the China Banking Regulatory Commission jointly issued the Notice on Deepening the Credit Easy Loan to Support the Financing of Small and Medium-sized Enterprises, demanding that the information asymmetry between banks and enterprises be solved by strengthening the collection and enjoyment of credit information; In Shaanxi, the government-led credit and financial service platform brings together the basic information of more than 2 million enterprises in the province and the in-depth information of social security, taxation and land of nearly 6.5438+0.7 million enterprises, realizing the docking of financing demand of 65.438+0.8 billion yuan; In Jiangxi, in the first eight months of this year, 84.53 billion yuan of loans were issued through the financing service platform for small and micro enterprises, accounting for 33.3% of the total amount of small and micro loans issued in the province during the same period.

The "Several Opinions on Strengthening Financial Services of Private Enterprises" issued earlier proposed to build and improve big data service platforms such as finance and taxation, market supervision, social security, customs and justice, and realize cross-level cross-departmental cross-regional interconnection. Improve and optimize the information docking mechanism between financial institutions and private enterprises, and realize efficient online docking between capital supply and demand.

"Encouraging and guiding finance to support the real economy requires many supporting measures." Ceng Gang said that the construction of financial information service platforms around the country is a useful exploration to establish and improve a long-term mechanism. Local governments are rich in social security, justice and other information, and have the ability to integrate the information originally scattered in various departments to form a huge database. If used legally and in compliance, these valuable data will greatly help financial institutions improve their service level.

To promote the construction of a long-term mechanism to serve the real economy, we should not only solve the problem of information asymmetry, but also improve the "dare to lend" mechanism of financial institutions. Zhu Shumin, vice chairman of the CBRC, said that the CBRC will continue to push banks to further improve the due diligence exemption mechanism and urge banks to include microfinance business in the assessment system.

The reporter learned that Chongqing Banking Insurance Regulatory Bureau recently conducted a thorough investigation on the due diligence exemption of small and micro enterprise loans of banks within its jurisdiction. From the feedback, it has achieved certain results in practice. The data shows that in the first half of this year, the non-performing loans of small and micro enterprises under the jurisdiction of Chongqing Banking Insurance Regulatory Bureau were 542 million yuan, involving exempted employees 1043, including 22 bank managers1person, 63 approval posts1person and 659 credit account managers. In order to improve the efficiency of exemption, Chongqing Rural Commercial Bank delegated the exemption authority, giving the branches the authority to identify due diligence exemption within 500,000 yuan.

The insiders believe that although some progress has been made, the due diligence exemption mechanism is still not perfect, and it is difficult to completely eliminate the worries of account managers. For example, although the regulatory authorities' tolerance for non-performing loans of small and micro enterprises has increased to 3 percentage points, many banks pay more attention to the assessment of the overall non-performing rate, and it is difficult to reflect the preferential policies without separately assessing the non-performing rate of small and micro enterprises.

The key to a good policy lies in its implementation.

Implement the policies of tax reduction and fee reduction and financing cost reduction that have been introduced.

The Monetary Policy Committee of the People's Bank of China pointed out at the regular meeting of the third quarter of 20 19 that it is necessary to optimize the financing structure and credit structure in accordance with the requirements of deepening the structural reform of the financial supply side, increase support for promoting high-quality development, and enhance the adaptability of the financial system to the supply system and the demand system. We will make great efforts to smooth the transmission channels of monetary policy, adhere to market-oriented reforms, promote a sharp drop in real interest rates, and guide financial institutions to increase their support for the real economy, especially private and small and micro enterprises.

"At present, the downward pressure on the economy is increasing, and the real economy is facing certain difficulties. It is necessary to give full play to the joint efforts of policies such as reducing taxes and fees and reducing financing costs, flexibly use macro-policy countercyclical adjustment tools, do a good job in policy coordination and linkage, strengthen pre-adjustment and fine-tuning, ensure that the economy operates in a reasonable range, and stabilize the expectations of private and small and micro enterprises. " Ceng Gang said.

How to further improve the due diligence exemption mechanism and get through the "last mile" of serving private and small and micro enterprises? Dong Ximiao believes that the supervision of banking institutions should be continuously carried out, and banks should be forced to further improve their internal mechanisms through on-site inspections, window guidance and quarterly discussions. Explore the basic recognition standards of due diligence in all aspects of small and micro enterprise loans, and eliminate the concerns of grassroots account managers to the greatest extent by clarifying the boundaries of due diligence and exemption.

(Article source: People's Daily)

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