On May 19, the 7th regular press conference of the banking and insurance industry in 2022 was held in Beijing. Liao Lin, President of Industrial And Commercial Bank Of China Limited(601398) China, Fang Heying, President of China Citic Bank Corporation Limited(601998) China and Wang tingke, President of The People’S Insurance Company (Group) Of China Limited(601319) group spoke on the theme of “coping with difficulties in the banking and insurance industry and helping the steady and healthy development of the real economy” and answered reporters’ questions.
Bank and insurance work together to fight the epidemic
In terms of epidemic prevention and control, Wang tingke said that The People’S Insurance Company (Group) Of China Limited(601319) actively developed anti epidemic exclusive insurance products and jointly launched the “epidemic prevention and control insurance for service-oriented enterprises in Chaoyang District” with the Chaoyang District government to provide basic insurance protection for the possible salary suspension risks faced by employees of catering, retail and other service-oriented enterprises that must be shut down due to confirmed cases or close contacts. By the end of April, it had covered 62000 enterprises, underwritten about 740000 people, and successively completed the compensation payment of about 250 enterprises and more than 1200 people, with a total compensation amount of more than 1.35 million yuan.
The “shelter insurance” was launched in Ningbo to provide nearly 72 million yuan of risk protection for isolation centers, isolation personnel and medical workers. Pay attention to the protection of vulnerable groups in the epidemic and provide health care services to 270000 “express brothers”. In Shenzhen, through the enterprise joint clinic, we ensured the medication of chronic disease personnel of customers and enterprises, and provided nucleic acid sampling assistance for more than 30000 times.
The People’S Insurance Company (Group) Of China Limited(601319) also helps to speed up vaccination and actively develop covid-19 vaccination abnormal response insurance. PICC Health has insured nearly 1.7 billion doses of covid-19 vaccine since 2020, accounting for about half of the national covid-19 vaccination.
Fang Heying said that since the outbreak, China Citic Bank Corporation Limited(601998) from the perspective of stabilizing the market and boosting confidence, has fully supported entity enterprises in epidemic prevention and resistance China Citic Bank Corporation Limited(601998) gave special subsidies to branches for providing epidemic prevention and anti epidemic loans, with a single loan subsidy of up to 50 bps. Over the past two years, the loan principal involved in subsidies has exceeded 120 billion yuan China Citic Bank Corporation Limited(601998) also provides support for extending the repayment of principal and interest by extending the term, renewing the loan without repayment of principal, and repaying the old by borrowing new loans for loans in key industries seriously affected by the epidemic, such as catering consumption, medicine and health, logistics and transportation, and people’s livelihood.
Last year, China Citic Bank Corporation Limited(601998) for more than 9000 enterprises, more than 25 billion yuan of delayed repayment of principal and interest was handled. Since this year, nearly 2000 enterprises have handled more than 5 billion yuan of delayed repayment of principal and interest.
Liao Lin said that in areas with frequent outbreaks, Industrial And Commercial Bank Of China Limited(601398) for small and micro enterprises engaged in the production and distribution of materials such as “vegetable baskets” and “rice bags”, they should timely solve the problem of capital turnover caused by the surge in orders.
For example, Shanghai, Jilin and other branches have specially formulated service plans to provide working capital support for Shenzhen Agricultural Products Group Co.Ltd(000061) and domestic material guarantee enterprises; By means of loan renewal, extension, refinancing, grace period, repayment plan adjustment and other means, take the initiative to do a good job in fund maturity continuation services to ensure that funds are not “out of stock”.
Since the outbreak of the epidemic, Industrial And Commercial Bank Of China Limited(601398) has handled deferred repayment of principal and interest for 265000 inclusive small and micro enterprises, involving a loan principal of more than 400 billion yuan; Since this year, 68.2 billion yuan has been extended for 31000 households. For small and micro enterprises and individual industrial and commercial households in the contact service industry, transportation and other industries greatly affected by the epidemic, connect with customers’ due financing in advance and strengthen continuous financial support.
For flexible employment groups such as taxis, online car hailing, truck drivers and online shop owners, we will increase operational loan support. For those who participate in the epidemic prevention and control and temporarily lose their source of income affected by the epidemic, service measures such as deferred repayment, negotiated repayment, credit investigation protection, stop urging and withholding shall be provided.
Bank insurance linkage helps microenterprises
In terms of helping small and micro enterprises, Wang tingke introduced that The People’S Insurance Company (Group) Of China Limited(601319) further strengthen insurance, support small and micro enterprises to reduce the burden, relieve difficulties and restore development, and ensure their ability to absorb employment. Develop exclusive products for small, medium-sized and micro enterprises, provide guarantees covering property losses, public liability, employer liability, export credit, loan guarantee and other fields, and form a service model for small, medium-sized and micro enterprises with PICC characteristics.
Develop exclusive insurance products for scientific and technological small and medium-sized enterprises, and help them obtain financing and support their development and growth through financing credit enhancement and direct investment of insurance capital. Support to solve the problem of difficult and expensive financing for small and micro enterprises, and develop loan guarantee insurance and other products. As of the end of April, 188000 small, medium and micro entity enterprises and individual industrial and commercial households had received loans or financing of 6.2 billion yuan.
Fang Heying said that at the end of the first quarter of this year, the balance of China Citic Bank Corporation Limited(601998) inclusive financial loans had reached nearly 400 billion yuan, an increase of 32.1 billion yuan over the beginning of the year, ranking first in the increment of joint-stock banks China Citic Bank Corporation Limited(601998) Inclusive Finance has more than 200000 loan households, an increase of 20000 over the beginning of the year; China Citic Bank Corporation Limited(601998) paid special attention to the “sinking and expansion” of small and micro enterprises. 2439 first loan households were added in the first quarter, accounting for nearly 20% of new loan customers.
At present, the asset quality of China Citic Bank Corporation Limited(601998) Inclusive Finance is good. The innovation and application of financial science and technology have played an important role in daring to “sink and expand” while maintaining good asset quality. China Citic Bank Corporation Limited(601998) has created a set of digital product system that fits the characteristics of small and micro enterprises. Through online service channels and intelligent risk control platform, it has realized the “contactless” service of small and micro enterprises in the whole process of financing from application, approval, lending and repayment, Just as the name of China Citic Bank Corporation Limited(601998) inclusive financial product system is called “CITIC easy loan”, it solves the financing difficulties and complicated procedures of small and micro enterprises with digitization, intelligence and scenario. The core of “CITIC easy loan” is to revitalize the “big data” in the supply chain into a “good credit” for small and micro enterprises, and “good loan” for different types of enterprises, so that “data” can speak.
Liao Lin said that since 2019, the average annual growth rate of Industrial And Commercial Bank Of China Limited(601398) inclusive small and micro enterprise loans has exceeded 50%. Since the beginning of this year, the operating difficulties of small and micro enterprises and individual industrial and commercial households have increased significantly, and ensuring the main body of the market is to ensure productivity. ICBC earnestly implemented the decision-making and deployment of the CPC Central Committee and the State Council, launched 19 measures to strengthen financial services and rescue support for small and Micro customers, helped hold an umbrella in rainy days and deliver carbon in snow, and tide over difficulties with market players.
At the end of the first quarter, Pratt Whitney loans fully realized “incremental expansion and cost reduction”, and the balance increased by 43% year-on-year, of which the increment of credit loans accounted for 42% in the first quarter; The number of customers increased by 31% year-on-year, and the first loan account for about 40% of the new customers of small and micro enterprises in the first quarter. The bank wide comprehensive financing cost of small and micro enterprises decreased by 60BP over the previous year.
Wang tingke pointed out that in the next step, The People’S Insurance Company (Group) Of China Limited(601319) will increase the innovation of insurance product portfolio for small, medium-sized and micro enterprises, strengthen product services around new citizens and flexible employees, and enhance the demonstration and leading role of “people’s Insurance“.
Liao Lin said that Industrial And Commercial Bank Of China Limited(601398) will resolutely implement the deployment requirements of the CPC Central Committee on “epidemic prevention, economic stability and safe development”, and effectively coordinate the epidemic prevention and control, inspection and rectification and financial work, so as to help stabilize the overall economic market.
Fang Heying said that in the future, China Citic Bank Corporation Limited(601998) will give full play to the synergy of CITIC Group’s “full financial license” and enable the high-quality development of the real economy with comprehensive financial services with CITIC characteristics.
