Finance is the blood of the real economy. Serving the real economy is the bounden duty and purpose of finance. Under the covid-19 pneumonia epidemic, it has helped stabilize the economic market, and the role of banking and insurance has become more prominent.
On May 19, Liao Lin, deputy secretary, vice chairman, executive director and President of Industrial And Commercial Bank Of China Limited(601398) group, Fang Heying, Secretary of China Citic Bank Corporation Limited(601998) Party committee, vice chairman, executive director and President of The People’S Insurance Company (Group) Of China Limited(601319) group President Wang tingke introduced the measures taken by the banking and insurance industry to support epidemic prevention and control and economic development, showing the confidence and action of the banking and insurance industry to help stabilize the economic market.
boost steady growth funds to invest in key areas of the real economy
“Since the beginning of this year, we have placed support for steady growth in a more prominent position, adhered to the forward force, targeted force and sustained force, promoted the expansion of the total amount of investment and financing, improved the structure and reduced prices, stabilized the main body of the market, played a good role in serving the ‘main force’ of the real economy and helped stabilize the overall economic market.” Liao Lin said that specifically, it is mainly to do a good job in “addition, subtraction, multiplication and division”.
It is “addition”. By the end of April, Industrial And Commercial Bank Of China Limited(601398) domestic RMB loans had increased by more than 1 trillion yuan over the beginning of the year, with a year-on-year increase of more than 200 billion yuan, a record high. In the first four months, the principal underwriter of various bonds was nearly 500 billion yuan, with a year-on-year increase of 34%; Bond investment totaled 768 billion yuan, with a net increase of 262.6 billion yuan.
Second, do a good job in “subtraction”. In the first quarter, the average interest rate of Industrial And Commercial Bank Of China Limited(601398) newly issued corporate loans decreased by 28bp compared with the previous year; The comprehensive financing cost of small and micro enterprises decreased by 60BP, which was higher than the decline of loan market quotation interest rate (LPR) in the same period.
Third, do a good job in “multiplication”. Focus on key economic areas and weak links such as manufacturing, small and micro enterprises, green, science and innovation, private enterprises and rural revitalization, and provide special support to areas greatly affected by the epidemic and temporarily difficult industries. The growth rate of loans in relevant fields is higher than that of various loans.
Fourth, do a good job in “division”. Undertake part of the mortgage insurance premium, assessment fee and mortgage registration fee, reduce and exempt the handling fees for opening accounts, account service fees, transfer and remittance fees of small and micro enterprises and individual industrial and commercial households, and further reduce the operating costs of enterprises.
“At present, the key to ‘steady growth’ lies in boosting the real economy. We have anchored the key areas of the real economy, supported a package of ‘combination boxing’ in terms of strategy, mechanism, resources, products and management promotion, strengthened the assessment of branches, focused on customers, vigorously innovated, continued to tilt resources and strive to increase credit.” Fang Heying said that taking the manufacturing industry as an example, in the first quarter of this year, the balance of manufacturing loans reached 345.4 billion yuan, of which medium and long-term loans in the manufacturing industry increased by 30.6% over the same period last year; Loans for specialized new “little giant” enterprises increased by 58% over the beginning of the year; Supply Chain Finance raised 271.8 billion yuan, a year-on-year increase of 33.9%.
“We give full play to the role of insurance in promoting economic stability.” Wang tingke said that The People’S Insurance Company (Group) Of China Limited(601319) underwrites engineering insurance for housing construction, municipal administration, rail transit, comprehensive urban development, reconstruction of old residential areas, urban public utilities operation and other related projects, and participates in underwriting engineering insurance for more than 98% of China’s rail projects, with the chief underwriting projects accounting for more than 57%. The development of the insurance industry to the high-end industry chain; Provide customized guarantee and financing support services for specialized new “little giant” and single champion enterprises in manufacturing industry.
for the “incremental expansion and cost reduction” of Pratt & Whitney loan for the relief of small and micro enterprises
Small and micro enterprises are the capillaries of the national economy and the main force to solve people’s livelihood and employment.
“In areas where covid-19 pneumonia epidemic is frequent, we have timely solved the problem of capital turnover caused by the surge in order volume for small and micro enterprises engaged in the production and distribution of materials such as’ vegetable baskets’ and ‘rice bags’. Since this year, we have handled extended principal repayment of 68.2 billion yuan for 31000 inclusive small and micro enterprises.” Liao Lin introduced that he launched products such as “anti epidemic loan”, “commencement loan”, “logistics loan” and “rent loan”, and made credit loans to upstream and downstream small and micro enterprises by leveraging the data and credit of core enterprises in the supply chain. At present, more than 2300 digital supply chains in agriculture, medical treatment, logistics and other industries have been implemented. Build a cross-border online platform for “global matchmaking”, help foreign trade small and micro enterprises access the global industrial chain, have attracted more than 60000 enterprises, held more than 100 matchmaking activities and reached a cooperation amount of more than 10 billion yuan.
It is worth mentioning that financial technology has played a positive role in helping small and micro enterprises. “We have created a set of digital product system that fits the characteristics of small and micro enterprises, and realized the ‘contactless’ service of small and micro enterprises in the whole process of financing from application, approval, lending and repayment.” Fang Heying said that China Citic Bank Corporation Limited(601998) innovatively developed “order e-Loan” products for production-oriented small and micro enterprises upstream of the supply chain to meet the needs of enterprises to start capital after receiving orders; Develop “e-Loan distribution” products for small and micro sales enterprises in the downstream of the supply chain, and solve the pain point of “lack of guarantee and mortgage” in the financing of sales enterprises; For foreign trade enterprises, the “tariff e loan” was launched to timely replenish import and export trade funds and help enterprises quickly “clear customs”.
At the same time, the insurance industry also plays an important role in helping the development of small and micro enterprises. ” The People’S Insurance Company (Group) Of China Limited(601319) develop exclusive products for small, medium-sized and micro enterprises, and provide guarantees covering property loss, public liability, employer liability, export credit, loan guarantee and other fields.” Wang tingke said that he developed exclusive insurance products for science and technology-based small and medium-sized enterprises, helped them obtain financing through financing credit enhancement and direct investment of insurance capital, supported their development and growth, supported the solution of financing difficulties and expensive financing of small and micro enterprises, and developed loan guarantee insurance and other products.
A series of measures have achieved remarkable results. At the end of the first quarter of this year, the balance of Industrial And Commercial Bank Of China Limited(601398) Pratt & Whitney loans increased by 43% year-on-year, and the number of customers increased by 31% year-on-year. In the first quarter, the first loan account for about 40% of the new customers of small and micro enterprises, and the comprehensive financing cost of small and micro enterprises across the bank decreased by 60BP compared with last year China Citic Bank Corporation Limited(601998) Inclusive Finance has a loan balance of nearly 400 billion yuan, an increase of 32.1 billion yuan over the beginning of the year. Inclusive Finance has more than 200000 loan households, an increase of 20000 over the beginning of the year. 2439 first loan households have been added for small and micro enterprises, accounting for nearly 20% of new loan customers. By the end of April, The People’S Insurance Company (Group) Of China Limited(601319) had obtained loans or financing of 6.2 billion yuan for 188000 small, medium-sized and micro entity enterprises and individual industrial and commercial households.
multiple measures to support epidemic prevention and control with high-quality financial services
At present, we are in a critical period of covid-19 pneumonia epidemic prevention and control. Focusing on service epidemic prevention and control and resumption of work and production, the banking and insurance industries have taken the initiative to show their “good skills” one after another.
” The People’S Insurance Company (Group) Of China Limited(601319) make every effort to speed up vaccination. Provide comprehensive risk guarantee for vaccine research and development, transportation and vaccination.” Wang tingke said that in the research and development link, PICC Property insurance provided Sinopharm China biology with multi-stage covid-19 vaccine abnormal response compensation insurance services exclusively to help vaccine enterprises research and development.
In the transportation link, PICC Property Insurance provides vaccine transportation risk guarantee for pharmaceutical and logistics enterprises, with a total risk of 20 billion yuan. In the aspect of vaccination, PICC Health has insured nearly 1.7 billion doses of covid-19 vaccine since the successful development of covid-19 vaccine in 2020, accounting for about half of the national covid-19 vaccine vaccination, covering 31 provinces across the country, with a claim amount of more than 85 million yuan, so as to escort the fight against the epidemic as soon as possible.
According to Wang tingke, The People’S Insurance Company (Group) Of China Limited(601319) and Chaoyang District Government jointly launched the “Chaoyang District service-oriented enterprise epidemic prevention and control insurance”. By the end of April, the above insurance types had covered 62000 enterprises and covered about 740000 people. Compensation payments were made to about 250 enterprises and more than 1200 people, with a total compensation amount of more than 1.35 million yuan.
The banking industry also made targeted efforts to ensure the financial needs of epidemic prevention and control. Fang Heying said that for loans in key industries such as catering consumption, medicine and health, logistics and transportation, and people’s livelihood guarantee, which were seriously affected by the epidemic, China Citic Bank Corporation Limited(601998) extended the term, renewed the loan without repayment of principal, borrowed the new and repaid the old, and provided support for deferred repayment of principal and interest. Since this year, nearly 2000 enterprises have handled deferred repayment of principal and interest for more than 5 billion yuan. Liao Lin said that Industrial And Commercial Bank Of China Limited(601398) continued to increase credit support for enterprises in epidemic prevention and control nationwide. Since this year, more than 350 billion yuan of loans have been granted to key areas such as medicine and medical treatment, living material guarantee and logistics guarantee to support epidemic prevention and control and resumption of work and production.
“In the next step, for the key enterprises of epidemic prevention and anti epidemic, we will insist on handling special affairs and making full use of loans, make every effort to ensure the funds required for their production and procurement, actively meet the fund needs of finance, taxation and epidemic prevention and control units at all levels, and provide strong financial guarantee for epidemic prevention and anti epidemic work.” Liao Lin said that for regions, industries, enterprises and individuals greatly affected by the epidemic, we should delay as much as possible, timely adjust the repayment and collection policies, do not blindly limit loans, withdraw loans and break loans, and take the initiative to maintain customer credit investigation.
