China Economic Weekly – Economic Net News on April 27, a small and micro business support plan for new citizens focusing on serving the local characteristic snack industry took the lead in Shaxian snack recently.
It is reported that the plan was jointly initiated by China Everbright Bank Company Limited Co.Ltd(601818) and many other financial institutions and meituan. It is intended to take the industrial cluster formed by migrant workers in the export place as the starting point, and provide a series of characteristic inclusive financial services, including no less than 10 billion unsecured preferential interest rate loans, to local snack industry operators through bank government linkage and bank enterprise linkage, so as to help these small and micro business entities relieve difficulties and resume development, Give better play to the driving role of new citizens in Entrepreneurship and employment.
It is understood that with the support of Shaxian snack industry development management committee, the first phase of the new citizen small and micro business support plan – Shaxian snack special has been officially launched. Shaxian snack operators with capital needs can search “new citizen” on the homepage of meituan app and enter the activity page to apply for unsecured loans with a maximum of 300000 yuan and an average annual interest rate of no more than 7.2%. Take the loan of 100000 yuan as an example, it only needs interest of more than 300 yuan per month. Businesses applying for meituan business loan for the first time can also obtain additional interest free benefits.
This is an innovative exploration of the organic combination of financial institutions and digital platforms, going deep into the industrial chain, and using information technology to increase financial support for small and micro enterprises with more employment.
With the in-depth advancement of China’s industrialization, urbanization and agricultural modernization, a large number of local characteristic snack industries linked by local conditions and with a certain nature of industrial clusters have emerged in China, such as snack bars in Shaxian County, Fujian Province, ramen restaurants in Hualong, Qinghai Province, steamed stuffed bun shops in Huaining, Anhui Province and Malatang in Bin County, Harbin. Millions of rural people have transferred to cities and towns through these characteristic snacks, Smoothly integrate into the local area and become a new citizen. According to the official documents of the Fujian government, since 1997, only the snack industry in Sha county has radiated a total of 300000 local people to start businesses and become rich.
The repeated covid-19 epidemic has hit the catering industry, which earns profits by relying on passenger flow and turnover rate, and has also brought huge business pressure to these snack shopkeepers with weak economic foundation. According to the data collected by meituan, in 2021, there were more than 19000 Shaxian snack stores suspended in China, and only 6928 newly opened Shaxian snack stores.
To this end, many ministries and commissions of the state have continuously issued documents to guide financial institutions to expand financial supply, increase credit support and insurance guarantee for industries and small, medium and micro enterprises greatly affected by the epidemic, and fully support the relief and development of various market entities and new citizen groups.
The co sponsor of the new citizen’s small and micro business support plan and the relevant person in charge of China Everbright Bank Company Limited Co.Ltd(601818) said that the local characteristic snack industry has made indelible contributions to consolidating and expanding the achievements of poverty alleviation and revitalizing the countryside.
“In the past, due to the lack of long-term tracking and data support for this group, it was difficult for financial institutions to accurately assess their credit status and needs.” China Everbright Bank Company Limited Co.Ltd(601818) relevant person in charge believes that with the development of digital economy, some digital platforms represented by meituan have a solid accumulation of the real needs and relevant data of this group in the process of long-term service, “which gives us the opportunity to solve the problem of information asymmetry, accurately portray new citizens, and effectively improve the availability and convenience of financial services for new citizens by relying on the scene characteristics and platform attributes of the digital platform.”
It is reported that the small and micro business support plan for new citizens is mainly undertaken by meituan business loan products. Meituan business loan is a business credit service provided by meituan to small and micro business entities. Up to now, it has provided credit services to more than 2 million cooperative merchants, of which small and micro catering with relatively low penetration of traditional financial services accounts for nearly 70%. Meituan data also shows that the life cycle of catering stores with loan line support is 270 days longer than that of catering stores without loan line support.
The relevant person in charge of meituan business loan said that among the catering merchants served by meituan, snack merchants account for more than 60%. This part of the new citizen group represented by small and micro enterprises is also the basis for the development of the platform. “Meituan, as a mainstream service platform widely carrying the entrepreneurship and employment of new citizens, will do a good job in the connector between 300 million new citizens and financial institutions, give full play to its advantages such as scene flow and data precipitation, help financial institutions build a credible tripartite model, and deliver financial ‘timely rain’ for new citizens represented by characteristic snack operators to better and faster integrate into urban life.”
It is reported that the new citizen’s small and micro business support plan, more special snacks are also being communicated and promoted, and will be launched in the future.
