Recently, the China Banking and Insurance Regulatory Commission and the people’s Bank of China jointly issued the notice on strengthening financial services for new citizens (hereinafter referred to as the notice). In view of the financial needs of new citizens in key areas such as entrepreneurship, employment, housing, education, medical treatment and pension, encourage and guide bank and insurance institutions to actively connect with existing support policies, and strengthen product and service innovation according to local conditions in combination with local conditions, Expand financial supply with high quality and improve the equality and convenience of financial services.
According to the definition of the notice, new citizens mainly refer to the various types of groups who have come to the cities for permanent reasons because of their own business, their children’s school, and their children’s support. They are not eligible for local registered residence or registered residence for three years, including three hundred million migrant workers, new graduates and so on.
On March 28, the postal savings bank of China held a press conference to announce the bank’s comprehensive financial service plan for new citizens, and released the new citizen’s exclusive debit card – “U + card”.
It is reported that Postal Savings Bank Of China Co.Ltd(601658) is the first large state-owned bank to launch relevant plans after the release of the notice.
According to the Postal Savings Bank Of China Co.Ltd(601658) service plan, aiming at the problem of venture capital financing, Postal Savings Bank Of China Co.Ltd(601658) will formulate exclusive credit products and service plans for new citizen customers, and provide rapid acceptance and approval channel for small loans . For new citizens entering the city for employment and entrepreneurship, give priority to applying for re employment guaranteed micro loans . For new citizen customers who meet other small loan access conditions, exclusive interest rate preference .
In addition, Postal Savings Bank Of China Co.Ltd(601658) cooperates with local labor and employment departments to provide entrepreneurship guarantee loans 23456 for small and micro enterprises founded by new citizens, actively introduce government guarantee fund guarantee or discount mechanism, and reduce the financing cost of new citizens etc.
In terms of health insurance for citizens, Postal Savings Bank Of China Co.Ltd(601658) will continue to expand the coverage of insurance and will create a new pool of citizen products covering lifelong annuity insurance, short-term medical insurance, long-term care insurance and family property insurance
Meanwhile, Postal Savings Bank Of China Co.Ltd(601658) will further improve the credit service policy for new citizens. Among them, in view of the pain points of imperfect credit information and difficult credit application of new citizens, Postal Savings Bank Of China Co.Ltd(601658) will explore more ways of income recognition on the basis of bank flow, social security and tax payment, increase the ability of multi-channel recognition of customers’ income repayment such as platform payment flow income, and help them do a good job in housing loan application
for the car purchase needs of new citizens, Postal Savings Bank Of China Co.Ltd(601658) will launch preferential activities for group purchase of passenger cars and small loans for operating vehicles with a minimum interest rate of LPR
What is the significance of the implementation of policies and measures related to “new citizens” financial services?
The China Banking and Insurance Regulatory Commission stressed that doing a good job in “new citizens” financial services is of great significance to smooth the national economic cycle, build a new development pattern, achieve high-quality development and promote a new type of urbanization with people at the core. It is also a necessary measure to promote the structural reform of the financial supply side, meet people’s yearning for a better life and promote the common prosperity of all people.
First, promote entrepreneurship and employment, encourage banking and insurance institutions to optimize credit status evaluation technology, and reduce the financing cost of “new citizens” entrepreneurship. Increase financial support for small and micro enterprises that attract more “new citizens” for employment. Improve the insurance guarantee level of “new citizens” entrepreneurship and employment. Second, meet the demand for secure housing, encourage banks and insurance institutions to optimize housing financial services, help increase the supply of affordable housing, and support the healthy development of the housing rental market. Third, help with training and education, encourage commercial banks to strengthen cooperation with local governments and provide financial support for “new citizens” vocational skills training. Fourth, improve the service level of health insurance, support insurance institutions to strengthen product innovation, actively connect with relevant enterprises, and provide flexible, affordable and convenient group health insurance products.
