As a national pilot area for financial service reform and innovation of small and micro enterprises, Taizhou has formed a set of distinctive and effective financing guarantee service system in supporting the comprehensive reform of private and small and micro enterprises, which provides a "Taizhou model" for the whole country to learn from.

1. Deepen the "two platforms and one Fund" to effectively improve the financing rate of small and micro enterprises

Taizhou adheres to the problem-oriented and strengthens the consciousness of innovation. Centering on the problems of difficult and expensive financing for small and micro enterprises, in-depth analysis was made of the causes, and efforts were made to solve the problems, which effectively improved the financing rate of small and micro enterprises and formed practices and experiences that can be copied and promoted.

(1) Crack the problem of information asymmetry between Banks and enterprises by taking the financial services credit information sharing platform as the starting point. First, the establishment of a credit information sharing platform. 320 million pieces of credit information covering 620,000 market players in 118 categories from 30 departments including market supervision, taxation, court, housing management and land management were integrated and collected. The platform automatically collects and updates information in real time. It has four kinds of query services, including basic information, comprehensive information, credit cube and positive and negative information, and is provided to Banks for free. Second, to develop and operate credit rating and automatic warning functions for small and micro enterprises to provide in-depth reference for bank loan credit. 2480 inquiry users have been opened, and the accumulative query volume has reached 8.98 million times, with the highest monthly query volume exceeding 200,000 times, which has been included in the required link of pre-loan investigation, loan approval and post-loan management by the bank. The bank-enterprise financing platform was officially launched in March 2019. A total of 211 credit products of various types were uploaded, 807 of which were successfully connected to 729 small and micro enterprises, realizing the financing demand of 3.04 billion yuan. At the same time, the platform has also become an important source for Banks to select high-quality customers, effectively reducing Banks' customer acquisition costs and enabling small and micro enterprises to save financing costs and shorten financing time.

(2) To crack the problem of insufficient collateral for small and micro businesses by taking the financing platforms pledged for the exclusive right to use trademarks as the starting point. In 2015, Taizhou became the first local pilot city to pledge loans for trademarks. In June 2016, the State Administration for Industry and Commerce held an exchange meeting on the working experience of financing pledge of registered trademarks in Taizhou to promote the experience and practices of Taizhou throughout the country. Take the lead in opening the special data line between the National Trademark Office and taizhou acceptance point, rationalize the key links such as registration and evaluation, innovatively launch the online preliminary examination service of application materials, and then formally submit materials to the acceptance point, to ensure the trademark pledge right registration and acceptance "run at most once". A total of 1979 pledges were registered, totaling 14.51 billion yuan, and 13.191 billion yuan in loans were issued. In addition, Taizhou also actively deepened the pledge financing of all kinds of rights such as accounts receivable, equity, pollutant discharge right, patent right, right to use sea areas and contracted land management right.

(3) With the credit guarantee fund for small and micro enterprises as the starting point, crack the difficult problem of financing guarantee for small and micro enterprises. Taizhou city has set up the credit guarantee fund for small and micro enterprises, which serves as a powerful starting point for the construction of the policy-based financing guarantee system in the city by adopting the mode of "government investment as the main part and bank donation as the auxiliary part". At present, Taizhou credit insurance fund has achieved full coverage of taizhou city. For the key industries and projects supported by the government, special guarantee products such as "500 Elite Enterprises", "start-up loan" and "peasant Household loan" have been innovatively launched. In total, 19,011 market entities have insured and granted 33,245 credits, with a total guaranteed amount of 33.295 billion yuan and a guaranteed balance of 9.794 billion yuan. The guarantee rate of the fund shall be controlled within 0.75% per year, and no additional fees shall be charged or third-party guarantee shall be added, thus effectively solving the problems of "difficult and expensive financing", "difficult and complicated guarantee", and high risk of mutual insurance and guarantee for small and micro enterprises. Taizhou Zhouyi Electromechanical Co., LTD. Is a pump and motor enterprise with high production technology level and development potential, which meets the policy development requirements of taizhou city to build a pump and motor industry of 100 billion yuan. In November 2016, due to the expansion of the enterprise and the shortage of funds, Zhouyi applied for a loan guarantee of 3 million yuan from Taizhou Credit Insurance Fund through the bank for the first time, which was insured by Taizhou Credit Insurance Fund. In December 2019, the enterprise applied to the bank for credit insurance business for the third time, and Taizhou Credit Insurance Fund renewed the insurance for the enterprise for 8 million yuan, which effectively alleviated the enterprise's capital shortage problem. The enterprise's tax sales income continued to grow, with a year-on-year increase of about 7% at the end of 2019. In particular, during the epidemic prevention and control period, the Taizhou Credit Insurance Fund actively helped the epidemic prevention enterprises to resume work and production. Taizhou Huanya packaging Co., LTD. Is an enterprise producing pearl cotton and other packaging materials. On March 20, 2020, in response to the government's call, the company invested 20 million yuan to set up 12 assembly lines to produce molten spraying cloth and nose bridge strips for the core raw materials of masks. Now the company can produce 2.5-3 tons of molten spraying cloth and 1.5 tons of nose bridge strips every day, with sales reaching 500,000 to 600,000 yuan. At the beginning of the resumption of work, due to the lack of collateral, the company was faced with the difficulty of credit approval. After knowing the enterprise demand, Taizhou credit insurance fund in a timely manner for the enterprise to implement special preferential policies for epidemic prevention insurance, on the basis of the original 5 million yuan, and for the enterprise to add 3 million yuan loan credit guarantee, and free one year of insurance premiums.

2. Promoting the "two mechanisms and one institution" to effectively improve the precision of financial services

Adhere to the demand - oriented, strengthen the service consciousness. Closely centering on the diversified financial needs of small and micro enterprises, we will accelerate the innovation of financial organizations, products and services, and initially establish a financial service system that is compatible with the real economy dominated by the private economy and dominated by small and micro enterprises.

(1)  Focusing on "where will the funds come from", we will establish a cooperation mechanism for policy-based re-lending. Promote three state policy Banks and set up 15 taizhou smaller legal person bank policy bond-and-loan cooperation mechanism, preparation of three respectively for manufacturing enterprise, kechuang enterprises, foreign trade enterprises "" monitoring, evaluation management listing, the implementation of higher than normal loans risk isolation, through policy, development funds to private and small micro enterprise conduction channel. A total of 23.8 billion yuan of loans have been extended, all of which have been used to support small and micro businesses and new types of agricultural business entities, with inclusive loans taking up 99% of the total. At the present stage, in order to support the resumption of work and production of enterprises, the Export-Import Bank has actively sought special loans to support the resumption of work and production of more than 600 foreign trade enterprises.

(2)  Focusing on "how to find the target", we will establish a mechanism for financing monitoring that covers the whole country. First, accurately screen the demand objects. Taizhou city divides 620,000 enterprises into 7 categories, namely, large enterprises, medium-sized enterprises, small and micro-sized enterprises in the park, supply chain small and micro-sized enterprises, science and technology innovative small and micro-sized enterprises, employment-absorbing small and micro-sized enterprises, and foreign-trade small and micro-sized enterprises, providing financing monitoring and services. The second is to provide accurate docking services. Six financing docking activities were held, including "one million enterprises in one park" service, special docking of credit and oxygen enrichment, and financing docking of science and innovation board enterprises. Under the promotion of a series of small and micro financial reform measures, taizhou's small and micro enterprises and other market players have maintained a rapid growth trend, with 32,216 new small and micro enterprises added throughout the year, and 2,483 individual industrial and commercial households guided and supported to transform into enterprises. The loan balance of Small and micro businesses in Taizhou was 351.677 billion yuan, accounting for 40.99% of the total loan balance, nearly 20 percentage points higher than that of the whole country.

(3) Focusing on "how to provide excellent services" and developing small and micro financial institutions. We will encourage and guide financial institutions to focus on providing services, vigorously develop specialized institutions and Banks for all types of small and micro businesses in Taizhou, and improve the coverage and specialization of small and micro financial services. The city has set up 352 small and micro enterprises franchised institutions, 102 community branches, and identified 8 characteristic Banks of e-commerce, 23 characteristic Banks of science and technology, 9 characteristic Banks of tourism, 9 characteristic Banks of talent service and 1 characteristic bank of cultural industry. It supports three urban firms to "go global", and has set up nearly 500 branches in nearly 20 provinces and cities, and nearly 200 rural bank head offices and branches.

3. strengthen the "two interaction and one prevention and control", and effectively enhance the breadth and depth of financial services

Adhere to the responsibility orientation, strengthen the sense of cooperation. We will give full play to the role of the government in guiding the improvement of financial services for small and micro businesses, strengthen the prevention and control of the whole process of "two-chain" risks, and deepen the reform and innovation of small and micro financial services.

(1) Government and enterprises should interact and guide and support enterprises to make good use of financial leverage. First, the government industry fund leveraging. We will actively improve the fiscal and tax policy system for counter-cyclical adjustment, and, with government industrial funds as the starting point, encourage equity investment to attract high-quality talent, projects and capital, hedge against downward economic pressure, smooth out cyclical fluctuations in the economy, and help stabilize and sustain the real economy. At present, Taizhou municipal government industrial fund has realized the transformation from 1.0 to 2.0, with 18 industrial sub-funds under the two parent funds. The investment of industrial fund is 10.93 billion yuan, which drives the social capital investment of 215.07 billion yuan, and the amplification effect reaches 20 times. Second, encourage and guide enterprises to use financial platforms. We issued the Policies and Opinions on Supporting The Development of Direct Financing for Enterprises to guide and encourage more enterprises to make use of domestic and foreign capital markets, bond markets and over-the-counter markets for direct financing. There are A total of 55 listed companies in the city, among which the number of A-shares listed ranks the fourth in the prefecture-level city in China, and the number of small and medium-sized board listed ranks the third in the prefecture-level city in China, forming the securities market "Taizhou Plate". Since the establishment of the pilot zone, 18 new listed companies have been added. Actively cooperating with Zhejiang Stock Exchange Center, we set up "Taizhou Small and micro board" separately at different levels, and strengthened the cultivation of science and innovation growth enterprise resources. The number of listed companies on the New Third Board and Zhejiang Stock Exchange Center reached 50 and 832 respectively. Enterprises are encouraged and guided to make use of various debt instruments. In 2019, the city's enterprises completed direct financing of 38.348 billion yuan, including equity financing of 3.389 billion yuan and bond financing of 35.059 billion yuan.

(2) Politics and science interact and give full play to the role of small and micro financial indexes as a barometer. First, the establishment of Zhejiang (Taizhou) Small and Micro Finance Research Institute. By the Chinese Academy of Social Sciences and local governments, local colleges and universities to build, hired the Chinese Academy of Social Sciences, Peking University, fudan university, nanjing university, zhejiang university, tamkang university and other famous universities and colleges of 10 experts and scholars as special researcher, specifically to carry out the development trend of small micro financial operation rule, such as the direction of the theory research and practice. Second, the country's first "small and micro finance index (Taizhou sample)" was compiled. Taking 340,000 market players in the financial service credit information sharing platform as effective samples, the first "Small and Micro Finance Index (Taizhou sample)" in China was compiled and jointly released with China Economic Information Service, China Financial Information Center and other platforms. The index is based on the concepts of data, the whole sample data analysis, including the total index and growth index, service, credit index three secondary index, collection, the quarterly, monthly service enterprise decision-making for the government, financial institutions, accurate service small micro enterprise, monitoring to prevent small micro enterprise operation risk to provide guidance and reference. The small and micro finance index was 103.76, down 0.40% year on year. Among the three secondary indexes, the growth index is 107.94, down 0.53% year-on-year. Service index 94.70, down 2.24% year-on-year; The credit index was 108.67, up 2.16% year on year.

(3) Symbiosis and win-win results, and prevention and control of "two-chain" risks through the whole process. First, we will actively create financial security demonstration zones. We issued the Implementation Plan for the Establishment of A Financial Security Demonstration Zone in Taizhou city, Zhejiang Province, and carried out three special actions, namely, promoting physical development through reform, strengthening supervision and improving the environment, and preventing and improving risks. The establishment of the second batch of demonstration cities for the construction of social credit system, the establishment of the red blacklist, and the establishment of a credit joint reward and punishment mechanism have formed a virtuous circle of "good credit, easy loan, more credit". Taizhou's comprehensive credit index ranks top in China. Second, innovation risk monitoring and inquiry. Regular monitoring mechanisms, such as the closure and closure of loan-related enterprises and the "Ten Lists" for risk prevention and control, have been established to comprehensively, timely and truly understand the changes of risks in the banking sector. Under the principle of satisfying enterprises' reasonable credit demand, financial institutions in the banking sector should be guided to innovate and enrich risk prevention and control measures in terms of credit approval, guarantee access and post-loan management. To improve the handling efficiency of risk enterprises, a coordination and support mechanism was established, a risk prevention and disposal plan was issued, and a Taizhou Financial Arbitration Court was set up. Third, set up a support team. A total of 263 "hehe syndicates" were set up. Through consultation and consultation, they worked together to "support the strong, help the poor and clear the land". In the whole year, they helped 11 enterprises with temporary difficulties in Taizhou city and raised more than 8 billion yuan in stable financing. At the same time, we will further encourage banking institutions to classify real assets and accelerate the disposal of non-performing loans. A total of 5.02 billion yuan of non-performing loans were disposed, 95% of the loans more than 60 days overdue were put under the management of non-performing loans. The city's non-performing loan ratio was 0.83%, and the non-performing loan ratio and the concern loan ratio were 1.55%, continuing to maintain the best level in the province.

Source: Ministry of Finance, PRC