The industrial chain is linked together, affecting the whole body. To ensure the stability of the industrial chain and supply chain, as an important part of the "six guarantees" task, is an important support for doing a good job in the "six guarantees" and stabilizing the basic economic plate. In the process of promoting industrial chain coordination to resume production, it is necessary to give full play to the comprehensive support role of supply chain finance based on industrial convergence advantages, hedge the impact of the epidemic on the supply side to the greatest extent, and maintain the stability and competitiveness of China's industrial chain and supply chain in the process of epidemic prevention and control.

Supply chain finance refers to the integrated financial services provided by financial institutions to the core enterprises and their supporting enterprises in the industrial chain. Compared with large leading enterprises, the epidemic has a greater impact on small and medium-sized enterprises and requires more urgent financial support. The development of supply chain finance can effectively overcome the credit and information problems of individual smes, accurately and effectively unclog the industrial cycle, improve the effectiveness of counter-cyclical adjustment and support policies, and fully implement the "six guarantees" task.

First, give play to the role of core enterprise credit enhancement. The industrial chain and supply chain is a complete cycle system composed of a number of core backbone enterprises and a series of supporting enterprises. Leading backbone enterprises generally occupy the core position, while supporting enterprises generally are mostly small and medium-sized enterprises. Small and medium-sized supporting enterprises have stable channels of production, marketing and supply in the industrial chain. Stable cooperative relations with large leading enterprises in the industrial chain can effectively solve the problems of credit deficiency and information asymmetry of individual enterprises. Relying on the scale and market advantages of core enterprises, it can effectively provide credit enhancement for small and medium-sized enterprises in the upstream and downstream of the industrial chain, help supporting enterprises to obtain financing services such as inventory, receivables or prepayments, and improve their credit expectation. This will not only help to solve the disease under the impact of enterprise fund pressure, precise support to return to work and production, will also be systematic to enhance the overall competitive advantage of the industrial chain of the supply chain, which is to solve the traditional micro, small and medium enterprises "financing difficulties, financing your" problem, and establish new production relation, an effective measure to enhance the capacity of financial services entity economy.

Secondly, strengthen the aggregation effect of decentralized enterprises. In general, the industrial chain of the supply chain upstream and downstream related enterprise will be scattered in different areas, although there is a core enterprise credit promotion role, but individual enterprises (especially small and medium-sized enterprises (smes) decentralized financing transaction costs is still large, led by leading core enterprise, set to adapt to the industrial chain time integration scheme of collaborative work and production capital demand, led by core enterprises as a people to financial institutions to apply for credit (or participate in supporting enterprise respectively apply to the area corresponding financial institutions), financial institutions through the cross region linkage mechanism of synergy and AD hoc integration for examination and approval, the implementation of integrated management. Relevant institutions to strengthen supply chain financial supply effective incentives, push the related parties precision effectively and quickly carry out the policies to support, protect stabilised solid strong chain chain enterprises, the effective drive to big with small, upstream and downstream linkage, production and sales for cohesion, clear industry chain supply chain cycle, improve the whole industry chain to return to work and production rate, maximum financial support policy effectiveness.

Third, innovate the industrial chain to gather bond financing. The bond market is the main battlefield of direct finance in China. However, affected by the epidemic, the risk appetite of the financial market declines, the implied rating index of non-state-owned credit debts continues to decline significantly, and the direct financing of small, medium and micro enterprises becomes more difficult. To this end, we can combine national support policies (such as tax incentives and financial interest discounts), rely on the industrial chain and supply chain to carry out credit enhancement and bond financing innovation, and effectively improve the bond financing capacity of small, medium and micro enterprises by utilizing the overall competitive advantage of the industrial chain. On the other hand, it can further increase the issuance scale of special financial bonds for loans of small, medium and micro enterprises of commercial Banks, broaden the channels of direct financing in the bond market and indirect financing of small and micro credit, and effectively improve the supply chain financial service capacity of commercial Banks. In particular, for the collection of bonds for key industrial chains, we can accelerate the issuance of special bonds for epidemic prevention and control and special mechanisms for the green channel, so as to further improve the efficiency and promote the resumption of work and production in a precise, solid and effective manner.

Source: huanjingjin website