Following the announcement of the State Council’s response to the New Coronavirus infectious pneumonia epidemic prevention and control mechanism, the Shanghai Securities Daily reporter learned from the CIRC in April 12th. Recently, the CIRC focused on financial support for freight transport logistics, ensuring that the banking insurance industry took the initiative to take precise and effective measures to help the freight logistics industry to solve difficulties.
Freight logistics is related to the national economy and the people’s livelihood, affecting the people’s dining table and the operation of enterprises. At present, facing the local recurrence of the epidemic, the high-speed control and upgrading in many places, and the logistics passage is not smooth.
the official website of the Ministry of transport said: “people can suspend the flow, but goods can’t stay for a moment”. Ensuring the smooth transportation of freight logistics has been put on the agenda, and the corresponding financial support will continue to be “overweight”, and financial institutions are going all out
Analysts believe that the freight logistics industry is an important part of the industrial chain supply chain and the “last kilometer” to ensure people’s livelihood; The freight logistics industry is very important for the protection of anti epidemic materials and living materials during the epidemic. At present, the local recurrence of the epidemic has a significant impact on the freight logistics industry. The implementation of relevant policies will improve the stability of the operation of the logistics industry, support the smooth freight logistics, and better support the overall stability of the anti epidemic.
rescue the freight logistics industry
guarantee epidemic prevention and control
A few days ago, the State Council issued a notice to the New Coronavirus joint infection prevention and control mechanism, and deployed the freight logistics guarantee and smooth work to ensure the transportation of goods and materials, such as medical and control materials, daily necessities, government reserves, postal express, and other important production materials such as agriculture, energy and raw materials.
Among them, in terms of financial support, the notice puts forward arrangements such as “encouraging financial institutions to reduce the actual loan interest rate and appropriately reduce fees”.
The China Banking and Insurance Regulatory Commission requires financial institutions to fully support freight logistics from six aspects:
The first is to increase financial support, the second is to help key groups, the third is to improve service efficiency, the fourth is to innovate guarantee methods, the fifth is to strengthen insurance guarantee, and the sixth is to ensure the safety of funds.
Dong ximiao, chief researcher of Zhaolian finance, said that the logistics industry has encountered many difficulties due to the double impact of the spread of the epidemic and the economic downturn: the decline in market demand affects the sustainable development of the industry; Epidemic prevention policy leads to logistics obstruction; Employees such as truck drivers and express delivery boys are difficult to work normally.
“These factors may lead to the decline of operating income of freight logistics enterprises and the tension of capital chain, which will lead to the decline of employees’ income.” Dong ximiao believes that the freight logistics industry is an important part of the industrial chain supply chain and the “last kilometer” to ensure people’s livelihood. Therefore, it is important and urgent to increase financial support and services for the freight logistics industry.
As of April 11, the national vehicle freight logistics index was only 79.02, down about 32% from the same period last year Du Yang of Bank Of China Limited(601988) Research Institute said that the index continued to decline from the high of 147.68 in mid March, with a decline of nearly 50%, and has a trend of further continuation.
“Shanghai is the hardest hit area of the epidemic, and the freight industry is facing serious challenges.” Du Yang said that as of April 11, the Shanghai vehicle freight flow index was only 15.29, down 86.14% from the same period last year and nearly 90% from the high point in March.
Zeng Gang, deputy director of the national finance and development laboratory, said that the release was quite targeted. The freight logistics industry is very important for the protection of anti epidemic materials and living materials during the epidemic. Relevant policies not only help to strengthen the support for the freight logistics industry itself, but also further clarify the financial guarantee for epidemic prevention and control.
Zeng Gang believes that in this context, the policies issued this time have increased financial support for logistics enterprises and individuals in the logistics industry. For example, reasonably arrange the repayment period to reduce the pressure of enterprises and individuals; Innovate guarantee methods and increase corresponding financing support; Through reasonable insurance product innovation, to disperse some risks. Through these measures, improve the stability of the operation of the logistics industry, support the smooth transportation of freight logistics, and better support the overall stability of the anti epidemic.
avoid industrial loan restriction, loan withdrawal and loan interruption
Specifically, in terms of financial support, the CBRC requires that we make good use of the inclusive small and micro loan support tools, appropriately tilt the inclusive small and micro enterprise loans to transportation enterprises and individual industrial and commercial households, actively follow up and effectively meet their financing needs, and do a good job in the continuous conversion of relevant loans after the extension of principal and interest payment policy, so as to avoid industrial loan restriction, loan withdrawal and loan interruption.
Zeng Gang said that under the influence of the epidemic, logistics enterprises have indeed suffered a certain impact, and the operation, exhibition and financial data in some regions may be affected. The enterprises themselves may need some financial relief. In particular, some small and medium-sized logistics enterprises may face tight cash flow and need to increase corresponding financial support. Therefore, we can refer to the relevant policies on Pratt & Whitney small and micro enterprise loans in the past and make arrangements for delaying the repayment of principal and interest to help these logistics enterprises tide over the difficulties.
In fact, as early as the early stage of the covid-19 pneumonia epidemic in 2020, the CBRC made it clear that the logistics and transportation industries greatly affected by the epidemic should not blindly withdraw, cut off or suppress loans; The cbcirc has also proposed to focus on the needs of epidemic prevention and control and make every effort to provide financing support to relevant enterprises such as important material production, transportation and logistics.
Dong ximiao believes that the freight logistics industry has its own characteristics. For example, the ability to resist risks is relatively weak, the internal management is relatively extensive, there is a lack of qualified collateral, and the capital demand is “short frequency, fast and urgent”, which was originally in a disadvantageous position in financing. He suggested that to increase support and services for freight logistics, targeted measures should also be taken based on these characteristics.
The reporter noted that the CBRC has put forward innovative guarantee methods. The cbcirc made it clear that it should give full play to the role of dynamic monitoring data and guide banking financial institutions to innovate chattel pledge loan products that meet the characteristics of road and waterway transportation enterprises; Government financing guarantee institutions are encouraged to provide financing and credit enhancement support to qualified transportation enterprises, and fulfill the liability of compensation in a timely manner in accordance with the law.
In addition, in order to improve service efficiency, the CBRC encourages banking and insurance institutions to optimize the approval process according to the market-oriented principle, open up green channels for transportation enterprises with heavy tasks of epidemic prevention and control and emergency transportation, and provide flexible and convenient services; Banking financial institutions are encouraged to reduce the actual loan interest rate and appropriately reduce charges on the basis of comprehensive consideration of their own operating conditions and customers’ repayment ability.
Dong ximiao suggested that financial management departments should increase incentives for financial institutions to serve the freight logistics industry, such as reducing the capital cost of financial institutions through structural monetary policy tools; Improve the tolerance of non-performing loans in the logistics industry, and establish the corresponding due diligence and exemption system.
Local governments should establish a risk sharing mechanism to digest the non-performing loans in the logistics loans of financial institutions according to a certain proportion. Government financing guarantee institutions should take logistics enterprises as important service objects.
He said that more importantly, in the case of severe epidemic situation, appropriate policies should be adopted to eliminate “one size fits all” measures, ensure the work and life of logistics enterprises, truck drivers and express delivery brothers, and create a normal and orderly environment for the sustainable development of freight logistics enterprises.
financial rescue
truck drivers, couriers and other specific groups
In fact, in addition to the financial rescue support for freight logistics enterprises, the CBRC has also made financial assistance arrangements for key groups in the industry.
The cbcirc requires that if truck drivers have temporary difficulties in repaying auto loans due to the impact of the epidemic, banking financial institutions should reasonably extend or renew loans as appropriate to help tide over the difficulties.
Zeng Gang believes that truck drivers are an important part of the logistics industry chain. Under the influence of the epidemic, truck drivers as individuals may face problems such as income instability, and their ability to repay the principal and interest of loans may be affected. In this regard, we can refer to the previous policies and make flexible repayment arrangements for individual customers seriously affected by the epidemic based on the principle of marketization, so as to reduce the repayment pressure of truck drivers as much as possible and help these individuals tide over the difficulties.
In terms of strengthening insurance protection, the CBRC said that insurance companies are encouraged to develop accident insurance and other products according to the characteristics of workers in special positions such as truck drivers and couriers.
Wang Xiangnan, deputy director of the insurance and Social Security Research Office of the Institute of finance of the Chinese Academy of Social Sciences, said that truck drivers and couriers undertake most of the transportation of goods in production and life. At present, the uncertainty of the environment has increased and the risk guarantee gap has increased, which affects their work convenience and enthusiasm, and is not conducive to the stable operation of the industrial chain and supply chain.
“At present, these people in special positions can be insured with various types of life insurance products. The main insurance restrictions are accidental injury insurance, because occupation is the biggest factor affecting the risk of accidental injury. Their insurance rate is higher than the average level of all kinds of people, but they still face a lot of unprotected risks.” Wang Xiangnan said.
Wang Xiangnan introduced that in terms of trucks, truck drivers have vehicle insurance products to choose from. However, some truck drivers believe that the premium is high and their enthusiasm for insurance is affected. For truck drivers and couriers, insurance companies can design products that are more convenient for insurance, try to reduce special underwriting procedures and improve insurance renewability. The protection liability should be more sufficient and the insurance amount should be increased at the same time.
In order to improve the level of protection for workers in these special positions, Xu Yuchen, a founding member and senior Actuary of China Association of actuaries, suggested: first, the flexible employment platform should do a good job in information disclosure, so that the takeout brother can purchase insurance products with relatively high sexual price and appropriate to his own needs through the platform or insurance company; Second, insurance companies should improve the current supply of insurance products and develop exclusive insurance products around these groups; Third, insurance companies should cooperate well with flexible employment platforms and closely integrate product development data, product sales and subsequent services, so as to reduce product premiums and sales expenses and improve product cost performance; Fourth, insurance companies make more use of scientific and technological means to prevent and reduce the risks of these people, improve risk prevention and control ability and enhance business sustainability.
banking and insurance
service freight logistics industry in progress
reporters noted that since the outbreak of this round of epidemic, banking and insurance financial institutions have paid timely attention to the financial needs of freight logistics enterprises and supported the smooth freight logistics
Qingpu District of Shanghai is the headquarters of large logistics enterprises in China. Since March, China Construction Bank Corporation(601939) first made financing plans for the enterprise after knowing the capital needs of Yunda, Shentong and Yuantong in terms of daily transportation and ensuring employees’ wages.
From March 1 to yesterday’s press release, China Construction Bank Corporation(601939) Shanghai Branch has provided credit support for transportation, warehousing and postal industry, totaling 960 million yuan.
Not long ago, the Export Import Bank of China Shanghai Branch added more than 100 million yuan of comprehensive credit line to Shanghai Zhengming Modern Logistics Co., Ltd., a leading enterprise in Shanghai’s cold chain logistics industry, of which nearly 70 million yuan was specially used to ensure the use of logistics and transportation liquidity funds for anti epidemic materials and residents’ living materials in Shanghai.
In Du Yang’s view, the early banking industry continued to increase financial support for small and micro enterprises, including freight logistics enterprises, with remarkable results. By the end of 2021, the balance of corporate loans in the transportation, warehousing and postal industries of the six major banks had exceeded 10 trillion yuan, with a year-on-year growth rate of 12%, accounting for 20% of the balance of corporate loans.
In addition, with regard to the CBRC’s proposal to “guide insurance companies to actively develop property insurance products such as cargo transportation insurance and road cargo transportation carrier liability insurance”, the person in charge of relevant business of Chang’an insurance told reporters for the first time that the company will actively develop cargo transportation insurance and road cargo transportation carrier liability insurance and other products to provide risk protection for more personnel in special positions.
