From April 15 to 17, the 2022 Tsinghua Wudaokou global financial forum with the theme of “stability and long-term development, finance helps high-quality development” was held in Beijing Bank Of China Limited(601988) Industry Association party secretary Xing Wei was invited to attend the forum and deliver a speech.
Xing Wei said that in recent years, the banking industry has maintained a steady development trend under the background of deepening the financial supply side reform. The adaptability, competitiveness and inclusiveness of the banking system have been significantly improved; A multi-level, wide coverage and differentiated service mechanism for the economy has been preliminarily established. However, with the economy changing from high-speed development stage to high-quality development stage, the banking industry has also encountered some new problems in the process of serving the new economy, new model and new business form. As the central inspection feedback pointed out recently, some financial institutions still have shortcomings in serving the real economy and national construction, and the prevention and control of financial risks still needs to be strengthened.
Xing Wei mentioned that at present, there are six major problems in the banking industry in the process of high-quality development of service economy.
First, the field of service inclusion needs to be deepened. In recent years, commercial banks have actively implemented the “six stabilities” and “six guarantees”, and Inclusive Finance has achieved “increment, expansion and price reduction”. At the same time, some commercial banks reflect that there are still some bottlenecks restricting the further development of Inclusive Finance. First, the problem of information asymmetry is prominent. At present, the digital inclusive mode provides an effective way to solve the financing problems of small and micro enterprises, but the construction of public credit database covering the whole country lags behind. At the same time, it is difficult for commercial banks to acquire by themselves, repeatedly connect and even cannot obtain. Second, there are difficulties in docking specialized and special new enterprises. Some provincial and municipal relevant departments have not disclosed the list of provincial and municipal “specialized and special new” enterprises, and some small and medium-sized banks are difficult to obtain the list and provide accurate financial support.
Second, there are still bottlenecks in service scientific and technological innovation. First, the bank credit access standards do not match the needs of scientific and technological innovation enterprises; Second, the value evaluation and risk evaluation system of scientific and technological innovation still needs to be improved; Third, the intellectual property valuation, pledge and circulation system is not perfect.
Third, there are still deficiencies in serving green development. First, the green standards are not unified; Second, the risk return does not match; Third, the product supply is unbalanced; Fourth, the trading market is imperfect.
Fourth, there are still shortcomings in serving rural revitalization. First, the types of products are not rich enough; Second, it is difficult and costly to obtain rural customer information; Third, the supporting mechanism in rural areas is not perfect.
Fifth, service digital economy needs to be innovated. Digital economy is an important way to promote the high-quality development of China’s economy. The rapid development of digital economy puts forward new requirements for the service level and quality and efficiency of commercial banks. Commercial banks still have many maladjustments in related products and services. First, there are deficiencies in the digital transformation of the banking industry itself. Second, the service model needs innovation. In the process of serving the digital economy, commercial banks are still limited to paying attention to the existing scale, existing assets and mortgage guarantee of enterprises, ignoring the growth potential, core technology and intellectual property rights of enterprises. There is a certain contradiction between the concept of risk control and the industrial characteristics of the digital economy. At the same time, there are many subdivided industries in the digital economy industry, with a wide range of product applications, more personalized financing needs and higher requirements for financial services.
Sixth, comprehensive risk control needs to be strengthened. There has always been a balance between risk prevention and control and supporting enterprise financing in the banking industry. In some key risk areas, such as real estate financial risk and small and medium-sized enterprise risk, higher requirements are put forward for banks to grasp the authenticity of customer business and post monitoring ability. In addition, there are areas with relatively concentrated risk exposure, which need to work together in many aspects to resolve relevant risks.
Based on the above problems, Xing Wei put forward three suggestions.
The first suggestion is that banks themselves need to do a good job in financial services around key economic areas and weak links, and make every effort to stabilize the macro-economic market.
First, focus on key technologies to help science and technology become independent. First, actively innovate the financial service model around key core technologies such as quantum information and integrated circuits, and increase support for key technologies such as “choke neck” by initiating the establishment and participating in industrial guidance funds, investment and loan linkage and internal and external cooperation. Second, focus on the special financial needs of scientific and technological innovation enterprises, actively innovate financial products, open up the financing “blocking point” of scientific and technological enterprises, and inject more financial living water into the new business form and model of Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) new business. Third, innovate and expand cooperation channels, increase cooperation with high-tech parks, entrepreneurship incubation parks, venture capital institutions, guarantee companies, securities companies and other financial institutions, so as to realize complementary advantages.
Second, focus on weak areas and improve high-quality development. First, build a good inclusive financial ecosystem. Actively connect with government departments, core enterprises and key business districts, realize ecological synergy and channel synergy, and improve the coverage of inclusive financial services. Second, improve the quality and efficiency of financial services for Rural Revitalization. Explore the establishment of professional Rural Revitalization departments, innovate service models, and provide financial services suitable for new agricultural business entities. Third, support green and low-carbon development in key areas. Increase financial support for new energy and new energy industry chain. Actively explore innovative mortgage and pledge guarantee methods such as emission rights and carbon emission rights, and promote the innovation of green credit products. Increase product innovation of green investment banks. Fourth, help “new citizens” live and start businesses in cities and towns. Earnestly implement the relevant requirements of the regulatory authorities, and effectively enhance the sense of acquisition, happiness and security of new citizens by expanding the supply of financial products and services for new citizens, continuously optimizing housing financial services for new citizens, and strengthening financial support for regions and industries that attract more new citizens.
Third, focus on the integration of digital industry and strengthen and optimize the digital economy. First, do a good job in financial support services for the digital economy. Focus on the new digital infrastructure and improve the financial service capacity and service level of the digital economy. Second, actively participate in the digital transformation in the fields of economy, life and social governance. Third, actively promote their own digital transformation. To consolidate the foundation of information technology and improve the level of data governance, large banks need to play the role of “head geese” and speed up the export of risk control tools and technologies to small and medium-sized banks, so as to promote the digital transformation of the whole industry.
Fourth, in the current new situation, we need to pay attention to the balance between risk prevention and development, improve market adaptability and sensitivity, and optimize and improve relevant systems and mechanisms.
The second suggestion is that the financial management department can formulate and issue relevant policy guidelines to stimulate the internal driving force of the banking industry to support high-quality development. It includes unifying financial standards, strengthening financial incentive mechanism, improving risk tolerance of supervision, continuously strengthening the disposal of non-performing assets, establishing financial stability guarantee fund, etc.
The third suggestion is that relevant functional departments should further improve the infrastructure and supporting facilities to provide assistance for the banking industry to better serve the high-quality development of the economy. Including the integration and establishment of information sharing platform, the establishment of professional technology evaluation and trading institutions, and the improvement of risk compensation mechanism.
