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China office: improve sme financing policy to reduce the financing burden of enterprises

Beijing, April 7 (xinhua The general offices of the communist party of China (CPC) central committee and the state council have issued guidance on promoting the healthy development of small and medium-sized enterprises (smes), and issued a notice calling on all regions and departments to earnestly implement the guidelines in light of actual conditions.

The full text of the guidance on promoting the healthy development of smes is as follows.

Small and medium-sized enterprises (smes) are a vital force for national economic and social development and an important force for expanding employment, improving people's livelihood and promoting entrepreneurship and innovation. They play an important role in maintaining steady growth, promoting reform, adjusting economic structure, benefiting the people and preventing risks. The CPC central committee and the state council have attached great importance to the development of small and medium-sized enterprises. At the same time, with the changes in the international and domestic market environment, smes are facing increasingly prominent problems such as rising production costs, difficult and expensive financing, and insufficient capacity for innovation and development, which must be paid great attention to. In order to promote the healthy development of smes, the following Suggestions are put forward.

guiding ideology

The ideas of socialism with Chinese characteristics in jinping new era as a guide, fully implement the party's 19 large and the 19th session of 2, the third plenary session of the spirit, adhere to and improve the socialist basic economic system in our country and insisted it is "two", adhere to seek improvement in stability work always tone, adhere to the concept of the new development, structural reforms to the supply side as the main line, in order to improve the development quality and efficiency as the center, in accordance with the principle of competition neutral, create fair and convenient business environment, further stimulate vitality of small and medium-sized enterprises and the development of power. We will conscientiously implement the law on the promotion of small and medium-sized enterprises to ease the difficulties of small and medium-sized enterprises, stabilize and raise their confidence and expectations, increase support for innovation, enhance their ability to develop professionally and their ability to achieve integrated development, and promote the healthy development of small and medium-sized enterprises.

create a good environment for development

Further relax market access. We will resolutely remove all unreasonable thresholds and restrictions, level the playing field in market access, examination and approval, bidding and tendering, and integrated military-civilian development, and provide ample market space. We will continue to narrow down the negative list items on market access, promote universal implementation of the principle of "no entry, no entry", and maximize market access and facilitation.

Take the initiative to serve small and medium-sized enterprises. We will further deepen reform of small and medium-sized enterprises. We will continue to reform the business system and make it easier to register and cancel businesses. We will press ahead with the reform of the eia system, implement the filing system of environmental impact registries, and reduce the time limit for approval of environmental impact assessments for projects to half the legal time limit. We will implement a fair competition review system, foster a fair, open and transparent market environment, and clean up and abolish all rules and practices that impede the unified market and fair competition. Take the initiative to serve enterprises and help them with "one enterprise and one policy" if they encounter difficulties in their development.

A fair and unified market supervision system shall be implemented. We will innovate oversight methods and combine oversight with services. We will avoid taking simple and harsh measures against small and medium-sized enterprises in the fields of safety supervision, environmental protection and other micro law enforcement and financial institutions' deleveraging. We will intensify enforcement of anti-monopoly and anti-unfair competition laws to ensure that small and medium-sized enterprises participate fairly in market competition. We will resolutely protect the property rights and other lawful rights and interests of enterprises and their investors, and no unit or individual may infringe upon the property and lawful earnings of small and medium-sized enterprises. We will strictly prohibit all kinds of activities that create difficulties and restrict the development of small and medium-sized enterprises, and hold them accountable for violations of regulations.

Crack the problem of difficult and expensive financing

Improve the financing policies for small and medium-sized enterprises. We will further implement the targeted RRR reduction policy for inclusive finance. We will increase support for small and micro businesses through rediscount, with the focus on supporting small businesses with discounted bills of 5 million yuan or less. We will extend the policy to eligible small and medium-sized Banks (including new Internet Banks). Loans for small and micro businesses with a single credit extension of 10 million yuan or less will be included in the scope of qualified collateral for medium-term lending facilities.

Actively expand financing channels. We will further improve the bond issuance mechanism, implement bond financing support tools for private enterprises, and support reasonable bond financing needs of private enterprises that are operating normally and facing temporary liquidity constraints by selling credit risk release certificates and providing credit enhancement services. We will explore ways to implement equity financing support tools for private enterprises, and encourage the establishment of special funds for market-based operations to carry out mergers and acquisitions or financial investment in private enterprises. We will vigorously develop high-yield bonds, private placement bonds, special debt financing instruments for entrepreneurship and innovation, bonds for venture capital funds, and special bonds for innovative and entrepreneurial enterprises. To study and promote sme financing by relying on accounts receivable, supply chain finance and franchise. We will improve the risk sharing and compensation mechanism for intellectual property pledge financing, and give full play to the role of intellectual property in increasing credit and lending. We will guide financial institutions to issue medium - and long-term loans to small and micro businesses and develop products for renewing loans.

Support the use of capital markets for direct financing. We will speed up the initial public offerings of small and medium-sized enterprises (smes) to facilitate the listing of smes with prominent businesses and standardized operations. We will deepen reform of issuance, trading and information disclosure, and support small and medium-sized enterprises to list on the new third board for financing. We will carry out trials to issue bonds for innovative and entrepreneurial companies and improve the mechanism for exchanging convertible bonds for equity. Research allows listed companies to issue convertible corporate bonds. We will implement a system in which the proportion of shares held by venture capital funds is inversely linked to the duration of investment, and encourage and support early innovation and entrepreneurship. We will encourage specialized funds, such as local operating funds for intellectual property, to serve the innovative development of small and medium-sized enterprises. For enterprises with stock pledge risk, relevant transitional mechanism shall be studied and formulated in accordance with the principles of marketization and rule of law, and risk prevention and mitigation measures shall be taken according to the specific situation of enterprises.

reduce the financing burden of enterprises. We will encourage financial institutions to expand the financing of export credit insurance policies and the pledged financing of export tax rebate accounts to meet the financial service needs of import and export enterprises. We will accelerate the use of state financing guarantee funds, and guide guarantee institutions to gradually eliminate counter-guarantee and lower guarantee fees. Clean up and standardize the guarantee, insurance, evaluation, notarization and other matters that are mandatory for smes in financing, reduce the additional expenses in the financing process, and reduce the financing cost; Where the relevant fees cannot be reduced or exempted, the local finance shall, in accordance with the actual situation, formulate incentive and supplementary measures to encourage the reduction of the fee standards.

establish a mechanism for classified supervision and assessment. To further release the economic capital invested by commercial Banks in loans to small and micro businesses, we will relax the limit on the amount per household that loans to small and micro businesses enjoy preferential weighting of venture capital. We will revise the measures for evaluating the performance of financial enterprises, appropriately relax the requirements for performance indicators, and encourage financial institutions to increase their investment in credit for small and micro businesses. Guide the banking financial institutions to consolidate the internal incentive transmission mechanism for small and micro businesses, optimize the allocation of credit resources, improve the performance assessment scheme, appropriately reduce the weight of profit assessment indicators, and arrange special incentive fees; To encourage the implementation of internal capital transfer price incentives for small and micro businesses; We will refine the management of the tolerance of non-performing loans for small and micro businesses, improve credit granting due diligence exemptions, increase incentives for grassroots institutions to extend loans to private enterprises and small and micro businesses, and increase the proportion of loans to private enterprises and small and micro businesses. We will improve our ability to manage and control credit risks and implement policies to standardize service charges.

Improving fiscal and taxation support policies

improve fiscal and taxation support for financing of small and micro businesses. We will implement the policy of reducing fees and subsidies for financing guarantee s for small and micro businesses, and the central government will allocate grants and subsidies for them, and guide local governments to support the expansion of financing guarantee businesses for small and micro businesses in the real economy, so as to reduce the cost of financing guarantee s. We will further reduce the policy threshold for discount interest on guaranteed loans for start-ups. The central government will allocate funds to support local governments in granting discount interest and subsidies on guaranteed loans for small and micro businesses. At the same time, we will promote relevant statistical monitoring and analysis. We will implement the policy of exempting interest income on loans from value-added tax and the pre-tax deduction of income tax on loan loss reserves for small and micro businesses and individual businesses with a credit of 10 million yuan or less per household granted by financial institutions.

Reduce the tax burden on small and medium-sized enterprises. We will clean up and standardize fees charged by enterprises involved, and accelerate the implementation of zero-fee administrative fees for local enterprises. We will press ahead with substantive tax cuts, such as the value-added tax, and grant preferential tax breaks to small and micro businesses and technology start-ups. According to the actual situation, we will reduce the social insurance premium rate and support small and medium-sized enterprises in creating jobs.

Improve government procurement policies to support small and medium-sized enterprises. Governments at all levels should provide convenience for small and medium-sized enterprises to carry out financing business under government procurement, and timely release information such as government procurement contracts in accordance with the law. We will study and revise the interim measures on government procurement to promote the development of small and medium-sized enterprises. In government procurement activities, to focus on new small and medium-sized enterprises.

Giving full play to the guiding and driving role of various types of funds. We will encourage the national fund for the development of small and medium-sized enterprises to follow the path of market orientation, corporatization and institutional development of professional managers, so that it will support the development of small and medium-sized enterprises in their seed and initial stage of development, and play a greater role in promoting the transformation and upgrading of small and medium-sized enterprises and achieving high-quality development. We will vigorously promote the implementation and operation of the national fund for the development of emerging industries and the military-civilian integrated industry investment fund, and support the financing of high-quality enterprises in strategic emerging industries and military-civilian integrated industries.

Fifth, enhance the ability of innovation and development

Improve the environment for innovation and entrepreneurship. We will strengthen support from the central government for technological innovation in small and medium-sized enterprises. We will increase support for scientific and technological innovation of small and medium-sized enterprises through the national science and technology program, adjust and improve the way science and technology programs are set up, tasks are deployed, and organizational and management methods are improved, and substantially increase the proportion of research and development tasks undertaken by small and medium-sized enterprises. We will encourage large enterprises to open up and share resources with small and medium-sized enterprises, and build an innovation network for the coordinated development of large and medium-sized enterprises around the innovation chain and the industrial chain. To promote the professional mass entrepreneurship space to improve the service capacity, to achieve accurate support for innovation and entrepreneurship. We will improve the mechanism for opening and sharing scientific and technological resources, encourage research institutions and institutions of higher learning to build a network management platform, establish an efficient docking mechanism, and open large scientific research instruments and experimental facilities to small and medium-sized enterprises. We will encourage small and medium-sized enterprises to participate in building the country's major scientific research infrastructure. The central government will allocate funds to support a number of state-level and provincial-level development zones in building characteristic carriers of financing for large and medium-sized enterprises, professional capital agglomeration, science and technology resource support and high-end talent guidance.

Protect intellectual property rights. We will use the Internet, big data and other tools to strengthen intellectual property protection through source traceability, real-time monitoring and online identification. We will accelerate the establishment of a system of punitive damages for infringement, raise the cost of breaking the law, and protect the innovative research and development achievements of small and medium-sized enterprises. To organize and implement sme intellectual property strategy projects, carry out patent navigation, boost sme technology research and development layout, and promote services such as intellectual property guidance, early warning, agency and custody.

to guide small and medium-sized enterprises to specialize in special development. We will support and promote the transformation and upgrading of small and medium-sized enterprises, focus on their main businesses, enhance their core competitiveness, constantly improve the quality and level of their development, and take a path of specialized and specialized development. Study and formulate specialized and special new evaluation system and establish dynamic enterprise database. On the basis of specialized and special new small and medium-sized enterprises, a group of specialized and special new "little giant" enterprises with outstanding main business, strong competitiveness and good growth will be cultivated in the fields of core basic components (components), key basic materials, advanced basic technology and industrial technology foundation. We will carry out special projects for the financing and development of large and medium-sized enterprises, and create a number of models and new models of financing and development. We will develop a number of pilot and demonstration projects for manufacturing innovation platforms in areas such as factor pooling, capacity opening, model innovation and regional cooperation, and take the development of manufacturing integration to a new level.

providing information services for small and medium-sized enterprises. We will promote the development of "Internet plus small and medium-sized enterprises", encourage large enterprises and professional service institutions to build cloud manufacturing platforms and cloud service platforms for small and medium-sized enterprises, develop products, solutions and toolkits suited to the smart manufacturing needs of small and medium-sized enterprises, and improve the supporting service system for smart manufacturing of small and medium-sized enterprises. We will promote the cloud-based deployment of business systems for small and medium-sized enterprises, guide small and medium-sized enterprises that have the foundation and conditions to advance the intelligent transformation of production lines, and promote the deployment and application of low-cost, modular intelligent manufacturing equipment and systems in small and medium-sized enterprises. We will vigorously reduce the cost of broadband special line access for small and medium-sized enterprises in the central and western regions.

Improve service guarantee

Improve the public service system. We will standardize the behavior of intermediary institutions, improve the quality of intermediary services in accounting, lawyers, asset appraisal, information and other fields, and give priority to providing smes with high-quality and efficient information consulting, entrepreneurship counseling, technical support, investment and financing, intellectual property rights, accounting and taxation, legal consulting and other services. We will strengthen the building and cultivation of demonstration platforms for public services for small and medium-sized enterprises. We will set up an interdepartmental Internet platform for the release of policy information on small and medium-sized enterprises (smes), timely collect all kinds of policies and government service information on laws and regulations, innovation and entrepreneurship, fiscal, taxation and finance, rights and interests protection, etc. concerning smes, so as to achieve a one-stop service for policy information on smes. We will establish and improve a system for conducting statistical surveys, monitoring and analyzing and regularly issuing reports on small and medium-sized enterprises.

Promoting credit information sharing. We will further improve the directory of small and micro businesses and actively promote cooperation between Banks and businesses. Relying on the national enterprise credit information publicity system and small and micro enterprises directory, establish and improve the small and micro enterprises database. Based on a national public credit information sharing platform construction comprehensive national small and medium-sized enterprise financing credit service platform, to develop "borrowed" the faith, Shared with commercial bank registration, the administrative licensing, administrative penalties, "blacklist" and tax, social security, water and electricity gas, warehousing logistics, such as information, improve the information asymmetry, argues to improve credit in good condition of small and medium-sized enterprise credit rating and loan availability.

attach importance to cultivating the ranks of entrepreneurs. We will continue to do a good job in training leading personnel in the management of small and medium-sized enterprises and raise their level of management. We will improve effective protection mechanisms that tolerate failure and create a favorable environment for entrepreneurs to grow. We will improve the policy guarantee for the treatment of qualified personnel and the system of classified evaluation. We will build a pro-qing relationship between government and business, encourage entrepreneurs to participate in formulating policies related to enterprises, and fully listen to their opinions and Suggestions. We will set examples of outstanding entrepreneurs and vigorously promote entrepreneurship.

supporting foreign cooperation and exchanges. Optimize the customs process, simplify the procedures, reduce the cost of customs clearance. We should deepen bilateral and multilateral cooperation and strengthen exchanges and cooperation among small and medium-sized enterprises in policy promotion, trade and investment, scientific and technological innovation and other fields. We will support the establishment of chinese-foreign sme cooperation zones in localities where conditions permit. We will encourage service organizations and associations for small and medium-sized enterprises to explore the possibility of setting up "small and medium-sized enterprise centers" in countries and regions where conditions are ripe. We will continue to ensure the success of the China international fair for small and medium-sized enterprises and support their participation in exhibitions and sales at home and abroad.

Strengthening organizational leadership and overall coordination

Strengthen support and overall guidance. Party committees and governments at all levels should earnestly implement the decisions and arrangements of the party central committee and the state council on supporting the development of small and medium-sized enterprises, actively take targeted measures, and take the initiative to help enterprises solve practical difficulties in policy, financing and business environment. All relevant departments should strengthen the investigation of problems existing in small and medium-sized enterprises, promptly introduce solutions in accordance with the requirements of division of labor, and actively promote good experience. We will improve the organizational structure and working mechanism for promoting the development of small and medium-sized enterprises, give full play to the role of organizational leadership, policy coordination, guidance and supervision, clarify the responsibilities and responsibilities of departments, strengthen supervision and inspection, and promote the implementation of policies.

strengthening work supervision and evaluation. The office of the leading group for promoting the development of small and medium-sized enterprises under the state council shall strengthen the supervision over the work of promoting the healthy development of small and medium-sized enterprises and entrust a third party institution to carry out regular environmental assessment of the development of small and medium-sized enterprises and make it known to the public. Local governments shall, in light of actual conditions, organize and carry out environmental assessment for the development of small and medium-sized enterprises.

Create a good atmosphere of public opinion. Vigorously promote the policies and laws and regulations to promote the development of small and medium-sized enterprises, emphasis on small and medium-sized enterprises in an important position and role in the national economic and social development, recognition of small and medium-sized enterprise development and services have sprung up in the work of small and medium-sized enterprises of advanced typical, let companies have more gain feeling and sense of honor, forming good social public opinion environment conducive to the development of small and medium-sized enterprise health.

Source: People's Daily