Key Tasks of Guangzhou for Optimizing Business Environment and Credit Access
These key tasks are formulated to thoroughly implement the important instructions of the Central Committee of the Communist Party of China on stepping up efforts to reform the business environment, benchmark with domestic and global forerunners, and improve the availability and convenience of credit access services from the aspects of enhancing legal rights in the financial market, increasing the depth of credit information, improving the quality of credit services, lowering the cost of financial credit and improving the access of enterprises to financing, so as to optimize the business environment of credit access and facilitate the formation of a business environment featuring globalization, marketization and the rule of law in the city.
I. Optimizing the Chattel Mortgage Registration Mechanism and Supporting Business Innovation in Credit Services Involving Chattel Mortgage and Pledge.
We shall optimize the chattel mortgage registration mechanism, pilot a unified modern chattel mortgage system, and realize the registration of chattel mortgages of enterprises on one platform. Relevant departments shall implement backend supervision according to their responsibilities to facilitate enterprises in mortgaged and pledged financing business. We shall intensify our efforts in the innovation of chattel mortgage and pledge credit products and services, and support financial institutions in Guangzhou’s banking sector to explore and develop new types of chattel mortgage financial products and services.
II. Establishing Sound Financial Policies to Give Positive Incentives
We shall improve the categorized supervision and evaluation system on financial institutions, and improve the credit fault-tolerance mechanism for small and micro enterprises. We shall encourage banking institutions to increase the weight of financial services for small and micro enterprises in assessment indicators, and implement supporting policies to help small and micro enterprises raise funds, such as "reducing cost, increasing scale, and shortening cycle". We shall also support financial institutions in the banking industry in formulating separate inclusive credit plans for small and micro enterprises, and strive to achieve growth in both the scale and number of accounts of credit for small and micro enterprises.
III. Improving the Credit Risk Pooling Policy Mechanism
We shall further leverage the role of fiscal funds in reaping the benefits of the micro-loan guarantee insurance policy and scale up the pilot project of policy-based micro-loan guarantee insurance. We shall give full play to the role of Guangzhou's technology-based SME credit risk loss compensation fund pool and Guangzhou’s intellectual property pledge financing risk compensation fund to cooperate with banks, financing guarantee companies and re-guarantee companies to provide risk compensation for the provision of loans to small and micro private enterprises. We shall implement the incentive policy for banking institutions in Guangzhou to provide services to small and micro enterprises and "agriculture, rural areas, and farmers", and provide incentive subsidies based on a certain proportion of the annual increase in the balance of loans to small and micro enterprises and agriculture-related sectors. We shall also accelerate the construction of municipal-level and district-level policy-based guarantee systems, support the financing re-guarantee companies in Guangzhou in their development, encourage qualified districts to establish district-level policy-based guarantee companies, and guarantee fiscal investment in policy-based guarantee companies.
IV. Improving the Construction of Legal Environments for Local Finance
We shall strengthen joint supervision and enforcement, regulate private lending practices, resolutely crack down on illegal financial activities such as financial fraud, malicious default of debt and illegal fundraising, and channel private funds to the actual financing needs of enterprises. We shall give full play to financial trial and arbitration, strengthen the protection of financial claims, financial intellectual property rights, and financial consumer rights and interests, improve the efficiency of non-performing asset disposal and judicial protection, and safeguard the smooth and orderly operation of financial markets.
V. Innovating Financial Products and Services and Improving the Efficiency of Credit Services of Financial Institutions
We shall encourage financial institutions in the banking sector to promote financial technology applications such as artificial intelligence, cloud computing, and blockchain in the whole process of management, operation, and service, explore smart lending services, and optimize credit processes and credit evaluation models. We shall continue to advance banking-taxation cooperation projects, explore and promote new online fast loan models such as "Internet plus tax payment information" and "Internet plus transaction information", and actively adopt supply chain financial means to provide credit support for medium-sized, small and micro enterprises in upstream or downstream of core supply chain, so as to improve loan issuing efficiency and service convenience.
VI. Reasonably Control the Financing Costs of Small and Micro Enterprises
The branches of major banks in Guangzhou should exert the "bellwether" effect to drive the banking financial institutions in Guangzhou to reasonably control the financing costs of small and micro enterprises. We shall strictly implement the State Council's requirements for further clean-up and standardization of enterprise-related fees and requirements of financial regulatory authorities such as "seven prohibitions", "four disclosures" and "two bans and two limits", prohibiting the illegal collection of fees from small and micro enterprises. We shall also further shorten the financing chain, eradicate various "pathways" and "bridge" processes, and effectively reduce the financing burdens on small and micro enterprises.
VII. Improving the Database of Guangzhou Credit Information Platform and Promoting the “Full Coverage” of the Credit Information System
First, we shall promote the reporting of various types of credit information of credit institutions such as housing provident fund credit information, and non-banking information such as public utility payments to credit information platform databases including "Yuexinrong", "SME Financing Service Platform", "celoan.cn" and others, so as to enhance the completeness of the basic database of Guangzhou's credit information platforms. Second, we shall improve the quality of credit information services, guide the credit information platforms to introduce data development models and work on risk control models applicable to different types of enterprises, improve the quality of credit and loan information services, and facilitate the convenience of corporate financing.
VIII. Advancing Pilot Schemes for Innovative Financial Reform
Relying on the Guangdong-Hong Kong-Macao Greater Bay Area and the Nansha Area of the Guangdong Free Trade Zone, we shall accelerate financial cooperation between Guangzhou, Hong Kong and Macao, improve underlying mechanisms for capital exchange and market interconnection, and effectively connect with the Hong Kong offshore CNY market. We shall advance innovative financial businesses such as pilot schemes of cross-border RMB loans, and actively explore the implementation of pilot operations such as cross-border payments and cross-selling of wealth management products, as well as guide greater amounts of capital from Hong Kong and Macao to provide support for Guangzhou’s socio-economic development. We shall promote the construction of experimental zones to test green financial reforms and innovation, improve the green financial market system, encourage qualified financial institutions to set up institutions specialized in green finance, accelerate the construction of a green financial system connecting industry and finance, guide financial institutions in increasing credit support for green enterprises and green projects as well as product and service innovation, explore and advance innovative operations such as loans where collateral is based on carbon emission rights and carbon-sink forestry and expand financing models for green enterprises and projects.
IX. Improving the “One Core, Multi-Point” Layout of Financial Function Zones
We shall build a “one core, multi-point” layout of financial functional zones centered upon Guangzhou’s International Financial City and enhance Guangzhou’s capabilities to allocate global financial resources. We shall guide districts in taking advantage of the disparate industrial characteristics to optimize the position of financial function zones and enhance our ability to serve enterprises engaged in the real economy. We shall accelerate the construction of financial function zones such as the Guangzhou International Financial City, the Nansha Modern Financial Service Area, and Guangzhou Financial Innovation Service Area, promote the high-quality development of the Private Finance Street launch the construction of the Baietan Industrial-Financial Service Innovation Area, and explore the role of international cooperation in developing the Nansha International Financial Island and other financial function zones.
X. Continuing to Improve Industrial-Financial Platforms Connecting Government, Banks, and Enterprises and Strengthening Support for Enterprise Financing.
We shall further advance the implementation of theWork Plan on Guiding Guangzhou Banking Financial Institutions to Enhance Services to the Real Economy, build multi-layered, normalized and sophisticated mechanisms that link industry and finance, and organize themed activities targeted at different types of enterprises to connect lenders and borrowers by facilitating enterprises’ action through city-district linkages and government platforms, thus promoting scientific and effective connections between financial resources and enterprises engaged in the real economy.