Sichuan Department of Economy and Information Technology: The average guarantee rate for small and micro enterprises strives to fall below 1.5%.

On October 26, the Information Office of the Sichuan Provincial People's Government held a press conference on fiscal and financial interaction policies in Chengdu.

The data shows that from 2018 to 2020, Sichuan won a total of 515 million yuan of national small and micro enterprise financing guarantee business fee reduction awards, the total amount of funds ranked third in the country, ranking first in the west, and accumulatively implemented premium subsidies, business incentives and risk compensation for 263 (times) financing guarantee institutions in the province. Effectively helped 12,400 small and micro enterprises leverage bank loans of 80.412 billion yuan, driving social security enterprises to increase operating income by 986.777 billion yuan, solving employment of 1.1711 million people, and realizing profits and taxes of 788 million yuan.

At the meeting, Yuan Bing, chief economist of the Sichuan Department of Economy and Information Technology, introduced that after the guidance of fee reduction in recent years, the average financing guarantee rate of Sichuan warehousing guarantee institutions has dropped from 2.47% in the peak period to less than 2%, and the annualized guarantee rate of small and micro enterprises has dropped from 1.95% to 1.5%. At the same time, the volume of guarantee business of small and micro enterprises has increased significantly, and the proportion has steadily increased, and in the first three quarters of this year, the amount of guarantee business of small and micro enterprises accounted for more than 80% of the total amount of loan guarantee business, accounting for an increase of 18 percentage points compared with 2019.

"This year, Sichuan has won the national small and micro enterprise financing guarantee business fee reduction award supplementary fund of 153 million yuan, leveraging bank loans for small and micro enterprises of 13.933 billion yuan, and reducing the guarantee rate of small and micro enterprises by an average of 1.1 percentage points."

Yuan Bing said that the Sichuan Provincial Department of Economy and Information Technology will urge cities (prefectures) with annualized guarantee rates that exceed the average level of Sichuan to establish a responsibility system and implement fee reduction measures in multiple ways. The government guarantee institutions controlled by the government or state-funded holdings will be the main force in Sichuan's financing guarantee fee reduction, and guide the implementation of fee reductions; promote provincial re-guarantee institutions, expand the coverage of re-guarantees, and increase the proportion of sub-insurance.

In the next step, the Sichuan Provincial Department of Economy and Information Technology will thoroughly implement the provincial government's fiscal and financial interaction policy, vigorously carry out the incremental work of reducing the fee of financing guarantees, make good use of various guarantee support policies, and strive to reduce the average guarantee rate of small and micro enterprises in Sichuan to less than 1.5%, and the average guarantee rate of guarantee institutions cooperating with re-guarantee will drop to less than 1%, and maintain the proportion of guarantee business of small and micro enterprises not less than 80%.

Red Star News reporter Ye Yan Wang Peizhe

Edited by Chai Chang

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