Notice on Deepening Financial Services for the Manufacturing Industry and Helping to Promote New Industrialization

The supervision bureaus of the State Administration of Financial Regulation, the competent departments of industry and information technology of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan, the Xinjiang Production and Construction Corps, the Development and Reform Commission, all policy banks, large banks, joint-stock banks, foreign-funded banks, direct banks, financial asset management companies, financial asset investment companies, wealth management companies, insurance group (holding) companies, insurance companies, and insurance asset management companies:

Realizing a new type of industrialization is a key task for comprehensively promoting the construction of a strong country and the great cause of national rejuvenation with Chinese-style modernization. In order to thoroughly implement the spirit of the 20th National Congress of the Communist Party of China, the Central Economic Work Conference, and the Central Financial Work Conference, promote more financial resources to promote advanced manufacturing, realize the transformation of the mainland from a manufacturing country to a manufacturing power, and guide financial institutions to deepen financial services with the theme of serving the high-quality development of the manufacturing industry, and help promote new industrialization, the relevant matters are hereby notified as follows:

1. General requirements

(1) Guiding ideology. Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implement the spirit of the 20th National Congress of the Communist Party of China, the Central Economic Work Conference and the Central Financial Work Conference, completely, accurately and comprehensively implement the new development concept, deeply grasp the basic laws of promoting new industrialization in the new era and new journey, actively practice the political and people's nature of financial work, take financial services for the real economy as the fundamental purpose, adhere to the strategic focus of building a manufacturing power, help improve the level of industrial modernization, and promote the high-end, intelligent, and intelligent manufacturing industry. Green development provides strong financial support for the construction of a modern industrial system.

(2) Work requirements. Deeply understand the strategic positioning and importance of promoting new industrialization, put financial support for the high-quality development of the manufacturing industry in a more prominent position, take deepening the structural reform of the financial supply side as the main line, improve the financial policy system and market system of the manufacturing industry, promote the coordinated efforts of banking and insurance institutions, focus on the key tasks of promoting new industrialization, continue to increase financial support, optimize the financial service model, enhance the ability of financial specialization, and promote the development of financial support for the manufacturing industry to achieve effective qualitative improvement and reasonable quantitative growth.

Second, around the key tasks, increase the financial support for the manufacturing industry

(3) Strive to support the safety and stability of industrial and supply chains. Banking and insurance institutions should optimize the allocation of financial resources, increase financial support for weak areas such as basic components, basic materials, basic software and industrial software, and promote the innovation and development of major technical equipment. Focusing on the key industrial chain of the manufacturing industry, we will actively link with the competent departments of relevant industries, accelerate the high-quality development of the key industrial chain of the manufacturing industry, deeply explore the financing needs of enterprises and projects in the key industrial chain, and comprehensively adopt syndicated loans, joint credit and other models to provide professional financial services for key enterprises and major projects. Standardize the development of supply chain finance, strengthen financing services for core enterprises, and promote the coordinated development of upstream and downstream enterprises in the industrial chain through accounts receivable, bills, warehouse receipts and order financing.

(4) Focus on supporting the development of industrial scientific and technological innovation. Banking and insurance institutions should thoroughly implement the innovation-driven development strategy, improve the science and technology investment and financing system that matches risks and returns, strengthen the financial services of the whole life cycle of science and technology enterprises, and help promote the development of new quality productivity. Actively support the innovation and development of small and medium-sized technology-based enterprises, innovative small and medium-sized enterprises, high-tech enterprises, "specialized, special and new" small and medium-sized enterprises, enterprises where enterprise technology centers are located, individual champion enterprises in the manufacturing industry, and enterprises undertaking major national science and technology projects, and promote breakthroughs in key core technologies and products. Insurance companies should vigorously develop science and technology insurance, provide science and technology research and development risk protection products and services, and improve the research and development risk sharing mechanism for key projects. Banking and insurance institutions should focus on pilot services in key areas of the manufacturing industry, explore personalized and targeted support methods, cooperate with pilot institutions to carry out relevant insurance business, support the accelerated development of the science and technology service industry, and promote the accelerated transformation of scientific and technological achievements.

(5) Focus on supporting the optimization and upgrading of the industrial structure. Banking and insurance institutions should strengthen the medium and long-term financial support for the renewal and technological transformation of traditional manufacturing equipment, give full play to the special work of expanding the medium and long-term loans of the manufacturing industry and the role of the national industry-finance cooperation platform, and promote the efficient docking of financial resources and industrial transformation financing needs. We will help cultivate and expand strategic emerging industries, focus on key industries such as information technology, artificial intelligence, Internet of Things, Internet of Vehicles, biotechnology, new materials, high-end equipment, and aerospace, strengthen financial support and risk protection, and expand the scale of credit loans for strategic emerging industries. Optimize the financial supply of foreign trade in the manufacturing industry, strengthen the protection of export credit insurance, and support enterprises such as automobiles, home appliances, machinery, aviation, shipbuilding and marine engineering equipment to "go global". Under the premise of controllable risks and voluntary business, insurance funds should provide long-term and stable financial support for strategic emerging industries through bonds, direct investment equity, private equity funds, venture capital funds, insurance asset management products and other forms.

(6) Focus on supporting the development of industrial intelligence and green. Banking and insurance institutions should increase their support for the core industries of the digital economy, strengthen financial services in the fields of intelligent equipment, digital infrastructure, and new forms of industrial Internet, and support the "intelligent transformation and digital transformation of the manufacturing industry". Vigorously promote the development of green finance, and support carbon emission reduction, green transformation, resource conservation and efficient recycling, and the construction of a green energy system in the industrial sector. Banking financial institutions should make good use of carbon emission reduction support tools and other policies, and increase medium and long-term financial support for industrial green transformation. Exit the "zombie enterprises" in the manufacturing industry in an orderly manner and revitalize the financial resources that are inefficiently occupied. Insurance companies should develop science and technology insurance, new energy insurance, climate insurance and other businesses, develop and promote network security insurance, and improve the level of insurance protection.

3. Optimize financial supply and improve the quality and efficiency of financial services in the manufacturing industry

(7) Optimize the credit structure of the manufacturing industry. Banking financial institutions should separately list the manufacturing credit plan, clarify the key points and task objectives, promote more credit resources to support the development of the manufacturing industry, and continue to increase the proportion of medium and long-term loans in the manufacturing industry. Strengthen the mining and use of credit information in the manufacturing industry, increase the provision of credit loans, and reduce the dependence on collateral. Increase support for first-time borrowers in the manufacturing industry and expand the coverage of financial services. Policy banks, large banks, and joint-stock banks should play a leading role in the industry, deepen and expand the working mechanism of medium and long-term loans in the manufacturing industry, actively connect with project information in key areas of the manufacturing industry, and do a good job in project signing and credit delivery.

(8) Enrich the supply of financial products in the manufacturing industry. Banking and insurance institutions should explore and improve the whole process of financial services according to the production and operation cycles of manufacturing enterprises, such as R&D, manufacturing, delivery, and maintenance. Under the premise of compliance with laws and regulations and controllable risks, banking financial institutions should develop credit products that adapt to the characteristics of the manufacturing industry, reasonably determine the loan amount and repayment period, and explore more flexible interest rate pricing and interest repayment methods. Scientifically and rationally expand the scope of collateral, vigorously develop intellectual property pledge loans, movable property pledge loans and other businesses, explore and carry out internal assessment of intellectual property rights, and strengthen financing support for scientific and technological innovation enterprises and producer service industries. Insurance companies should actively meet the risk protection and risk management needs of manufacturing enterprises, promote intellectual property insurance, R&D expense loss insurance and other underwriting businesses, and support product R&D and application.

(9) Strengthen the docking of financial services. Banking and insurance institutions should strengthen the visits and product promotion of manufacturing enterprises, solidly carry out activities such as the financing promotion of small, medium and micro enterprises such as "one chain, one policy and one batch", and rely on industrial parks, industry associations, service centers, information platforms and other channels to accurately match financing needs and improve the sense of access to financial services. Focus on the characteristic industrial clusters of small and medium-sized enterprises, and improve the quality and efficiency of financial support for small, medium and micro enterprises in the clusters. Resolutely implement the "two unswerving", firmly establish the concept of fair credit, treat all types of business entities equally, do a good job in financial services for private enterprises, deeply tap private high-quality customers with market, credit and technology, strengthen the cultivation of new customers in the private manufacturing industry, rely on the national integrated financing and credit service platform network, further promote the work of "credit and easy loan", and increase credit loans and medium and long-term loan support for private manufacturing projects.

Fourth, improve the service system and enhance the ability of manufacturing financial services

(10) Improve the multi-level financial service system. Policy banks should take advantage of the characteristics of policy finance with "large capital scale and long loan term" to better serve the construction of major projects in a manufacturing power, and support small and micro enterprises in the manufacturing industry with policy-based loans. Large banks should strengthen research on key core technology research areas, optimize the regional coordinated allocation of financial resources, and support key areas and weak links. Joint-stock banks should adhere to differentiated market positioning and deepen financial services for manufacturing industry segments and key investment directions. Local corporate banks should give full play to the characteristic advantages of deeply cultivating the local economy, reasonably determine the operating radius, and accurately serve local manufacturing enterprises. Non-bank financial institutions should enhance their competitiveness in market development, service quality and efficiency, and risk management according to their own positioning. Insurance companies should improve the insurance system of the manufacturing industry and provide multi-faceted insurance protection for the manufacturing industry.

(11) Improve the financial service mechanism for the manufacturing industry. Banking financial institutions should improve the credit management mechanism, in the organizational structure, economic capital allocation, internal fund transfer pricing and other aspects of the strengthening of resource security. Deeply explore the potential value of intangible assets and data resources of manufacturing enterprises, comprehensively consider non-financial information such as enterprise market and technology, steadily carry out quality financing credit enhancement, and explore relevant elements into credit evaluation and risk management models. Regulate the financing fees and management of all links, and must not tie in loans or charge fees in violation of regulations, and it is strictly forbidden to attach unreasonable conditions to loans. Insurance companies should improve the rate adjustment mechanism, optimize the underwriting and claim process, and continue to promote the insurance compensation mechanism for the first (set) major technical equipment insurance and the first batch of new materials.

(12) Optimize financial incentives and constraints for the manufacturing industry. Banking financial institutions should improve the internal performance appraisal mechanism, scientifically set the assessment weight, and give preference to the branches with remarkable results in performance appraisal and resource allocation. On the basis of risk control, the authority for credit approval should be appropriately delegated to improve the enthusiasm of branches to "dare to lend" and "be willing to lend". Refine the credit due diligence exemption system for manufacturing enterprises, formulate due diligence identification standards and exemption circumstances for each process link, clearly define the operation specifications for grassroots employees, and ensure the implementation of the due diligence exemption system.

(13) Enhance the professional level of manufacturing finance. Banking and insurance institutions should strengthen communication and consultation, carry out cooperation in customer development, industry research, debt recovery and other links, and comprehensively improve financial management capabilities. Strengthen the scientific and technological support of financial services, comprehensively use emerging technologies such as artificial intelligence, big data, and cloud computing, broaden financial service scenarios, and improve service efficiency. Enhance the service capacity of advanced manufacturing industry, improve the accuracy of credit approval and credit evaluation, and deeply study and judge the market prospects, expected benefits and potential risks of high-tech enterprises. Encourage qualified banking financial institutions to set up manufacturing professional teams, explore the establishment of manufacturing service centers in manufacturing enterprise clusters, and support the development of advanced manufacturing clusters.

5. Strengthen risk prevention and control, and create a good order in the financial market

(14) Enhance the ability to prevent and control financial risks in the manufacturing industry. Banking and insurance institutions should establish a prudent business philosophy, strengthen the construction of internal control and compliance, and comprehensively manage risks. Banking financial institutions should adhere to the principle of independent decision-making, independent loan review, and risk bearing, do the "three checks" of loans, implement the source of repayment, strictly classify manufacturing loans, and truly reflect the risk situation. Improve the efficiency of loan provisioning, and increase the disposal of non-performing loans in accordance with laws and regulations. Dynamically track the customer's business status and risk level, and improve the risk early warning mechanism. Do a good job of checking the authenticity of credit funds, and strictly prevent the scale of loans from being falsely increased through bill discounting. Strengthen the monitoring of the flow of credit funds, and strictly prohibit the use of credit funds for non-production and business activities.

(15) Create a good order in the financial market. Banking financial institutions should maintain a normal competitive environment, must not relax risk management requirements in order to win customers, and resolutely avoid excessive competition and "free riding" and "big accounts" and other behaviors. Effectively prevent multiple credit and excessive credit, and avoid low-level duplicate construction of industrial projects caused by rushing up. Strengthen unified credit management to prevent the accumulation of credit funds. Based on factors such as the actual business situation, capital cost, and supporting preferential policies, the loan interest rate is scientifically determined in accordance with the principle of business sustainability and the effective risk pricing mechanism, so as to prevent disorderly price reduction and idling arbitrage of credit funds. We will resolutely crack down on all kinds of illegal financial activities and make every effort to ensure the healthy development of the financial market.

6. Strengthen organizational guarantees and gather joint efforts to support the manufacturing industry

(16) Strengthen financial supervision. Financial regulatory departments at all levels should clarify the financial responsibility departments and task division of the manufacturing industry, comprehensively use key monitoring, regulatory notification, regulatory evaluation, on-site inspection, training and exchanges, etc., to supervise banking and insurance institutions to implement various regulatory policies, promote the high-quality development of the financial services manufacturing industry, and do a solid job in risk prevention. Strengthen the governance of financing data related to the manufacturing industry and improve the quality of data submission. Track and dispatch banking and insurance institutions to support the manufacturing industry's measures, problems and results, and actively report the implementation of the work.

(17) Do a good job of collaboration and linkage. Financial regulatory departments at all levels, competent departments of industry and information technology, development and reform departments, and banking and insurance institutions should strengthen coordination and docking services, and gather a joint force to support the high-quality development of the manufacturing industry. Promote the improvement of the "government-bank-enterprise" information sharing mechanism, and promote the exchange and sharing of manufacturing policy information, industry development trends, production capacity dynamics, enterprise production and operation information, and banking and insurance product information. Strengthen the linkage of central and local policies, support the national pilot cities for industry-finance cooperation to strengthen the collaborative innovation of industry, finance, finance and taxation policies, promote the improvement of risk sharing compensation, loan interest discounts and other mechanisms in qualified places, and enhance the ability of high-quality development of the financial services manufacturing industry.

State Administration of Financial Supervision and Administration

Ministry of Industry and Information Technology

National Development and Reform Commission