The Central Financial Work Conference pointed out that it is necessary to strengthen high-quality financial services for major strategies, key areas and weak links, and do a good job in science and technology finance, green finance, inclusive finance, pension finance, and digital finance.
On May 9, the State Administration of Financial Supervision issued the "Guiding Opinions on the Banking and Insurance Industry to Do a Good Job in the "Five Major Articles" of Finance (hereinafter referred to as the "Guiding Opinions") to clarify the goals, deploy tasks and point out the direction for the banking and insurance industry to do a good job in the "Five Major Articles".
The "Guiding Opinions" clarified the main goal of the banking and insurance industry to do a good job in the "five major articles" of finance: in the next five years, the banking and insurance industry will have a multi-level, wide-coverage, diversified and sustainable "five major articles" service system will be basically formed, the relevant working mechanism will be more perfect, the products will be more abundant, and the availability, coverage and satisfaction of services will be greatly improved, which will effectively promote the development of new quality productivity. The relevant regulatory system and supporting mechanisms have been further improved, the evaluation system has become more sound and effective, and the policy coordination has been continuously enhanced.
At the same time, the "Guiding Opinions" put forward more detailed goals for the "five major articles". For example, strive to form a virtuous circle of "science and technology-industry-finance"; The green finance standard and evaluation system has been improved, a high-quality inclusive financial system has been basically built, pension financial products have been more abundant, and a digital operation and management system has been basically completed.
Dong Ximiao, chief researcher of Zhaolian, said in an interview with the Financial Times that banking and insurance institutions should take the issuance of the "Guiding Opinions" as an opportunity to further enhance their sense of initiative and responsibility, accelerate transformation and innovation, explore and improve the franchise organizational structure, special risk control system, professional product system, and special assessment mechanism, and guide more financial resources to flow to key areas and weak links such as science and technology, green, inclusive, and pension, and strive to do a good job in the "five major articles". While improving the quality and efficiency of serving the real economy, it will enhance its own steady development ability.
Targeted
Optimize financial products and services
To do a good job in the "five major articles", it is necessary to have a clear target, prescribe the right medicine, make overall plans to do a good job in "addition and subtraction", improve the efficiency of financial resource allocation, and optimize financial products and services. In this regard, the "Guiding Opinions" put forward targeted requirements for optimizing the financial products and services of the "five major articles".
● Science and technology finance. It is necessary to focus on the stuck points to improve the quality and efficiency of science and technology finance, and provide full life cycle financial services for science and technology enterprises in combination with the development laws and characteristics of science and technology enterprises.
● Green finance. Focusing on the "dual carbon" goal, we will improve the green financial system, actively support energy conservation, pollution reduction, carbon reduction, greening and disaster prevention in key industries and fields, and enrich green financial products and services.
● Financial inclusion. Focus on pain points and difficulties, strengthen inclusive financial services, treat enterprises of all types of ownership fairly, continue to increase financial support for private, small and micro enterprises and individual industrial and commercial households, and actively serve the comprehensive revitalization of rural areas.
● Pension finance. Focus on the actual needs to accelerate the development of pension finance, increase financial support for the health industry, pension industry, and silver economy, and develop the third pillar of pension insurance.
● Digital finance. Focus on efficiency and security to promote the development of digital finance, actively guide the digital transformation of banking and insurance institutions, and improve the financial regulatory system that adapts to the digital era.
Dong Ximiao said that it is necessary to strengthen the management of financial resources investment in the "five major articles" and increase the tilt of resources. For example, taking the opportunity of relaxing the recognition criteria for inclusive small and micro loans to no more than 20 million yuan for a single household, we will focus on key groups and weak areas, continue to increase the proportion of first loans and credit loans for small, medium and micro enterprises, and improve the quality of inclusive finance. Improve and innovate evaluation standards and methods. For example, in view of the asset-light characteristics of science and technology enterprises, explore the use of talents, technology, business models and market prospects as evaluation factors, trademark rights and patent rights as pledges, and accelerate the introduction of external credit enhancement measures, so that enterprises that do not meet the traditional credit standards can easily obtain financing. In addition, it is necessary to accelerate the innovation of product and service models. For example, strengthen the linkage of banking, government and insurance trusts, explore the construction of a "panoramic view" of customer pension finance, and enrich pension financial products.
Of course, banking and insurance institutions should do a good job in the "five major articles", based on their resource endowment and their own capabilities, and give full play to their differentiated functional advantages. In this regard, the "Guiding Opinions" also put forward targeted requirements. For example, large commercial banks should become better and stronger, take the path of connotative development, enhance the core competitiveness of financial technology, give full play to the advantages of network channels and business function synergy, and improve the comprehensive financial service capabilities of the "five major articles". Urban commercial banks and private banks should give full play to their role as a new force in serving urban and rural residents, small and medium-sized enterprises, and local economy, pay attention to taking advantage of the advantages of short management radius and flexible operating mechanism, and combine their own resource endowments to optimize the financial products and services of the "five major articles".
Improve the organization and management system of banking and insurance institutions
In order to further improve the organization and management system of the "five major articles" of banking and insurance institutions, the "Guiding Opinions" require banking and insurance institutions to strengthen the construction of internal management mechanisms, improve incentive and restraint mechanisms, and adhere to the bottom line of risks.
The first is to strengthen the construction of internal management mechanisms. Banking and insurance institutions should incorporate the "five major articles" into their strategic plans and annual key tasks, establish and improve special leadership and coordination mechanisms, and formulate specific work plans. By increasing the investment of credit resources, appropriately delegating credit approval authority, and implementing differentiated internal fund transfer pricing, we will increase the tilt of internal resources. Eligible institutions are encouraged to set up special departments or special branches in light of their own actual conditions to improve the level of professional services.
The second is to improve the incentive and restraint mechanism. Banking and insurance institutions should establish and improve a scientific and reasonable performance appraisal system, appropriately increase the proportion of business related to the "five major articles" in internal performance appraisal, implement the due diligence exemption system, further clarify the criteria and procedures for determining exemption, and promote all parties to perform their duties and responsibilities.
The third is to stick to the bottom line of risk. The "Guiding Opinions" draw a clear "red line" for behavior, requiring banking and insurance institutions to conduct business in strict accordance with the principles of controllable risks and sustainable business, and avoid rushing to the top and over-granting credit. Strengthen the compliance review of related product businesses to prevent "pseudo-innovation" and "indiscriminate innovation" for the purpose of regulatory arbitrage. Accurately determine the target and scope of support, and strictly prevent defrauding and arbitraging funds from financial institutions in the name of "five major articles".
Strengthen the role of the "baton" of supervision
The person in charge of the relevant department of the State Administration of Financial Supervision said that the State Administration of Financial Supervision will continue to improve the policy system of "five major articles", formulate relevant implementation plans, and establish and improve the statistical system. Regulatory departments at all levels should strengthen supervision and guidance, carry out assessments and inspections in a timely manner, and correct problems such as inadequate policy implementation and deviation in implementation. The State Administration of Financial Supervision will supervise and evaluate the work of the supervision bureaus and banking and insurance institutions in a timely manner, and promote the relevant work to achieve practical results.
At the same time, it is necessary to promote the improvement of the external environment. The regulatory bureaus should strengthen cooperation with local governments, promote and improve the risk sharing mechanism, and smooth the channels for the disposal of collateral. Promote the improvement of the credit appraisal system for enterprises and individuals, support local governments in establishing and improving financing credit service platforms, effectively integrate information in various fields, and fully share it with banking and insurance institutions.
It is necessary to severely crack down on illegal financial activities. The above-mentioned person in charge said that the State Administration of Financial Supervision will severely crack down on illegal and illegal and financial criminal activities carried out in the name of the relevant concepts of the "five major articles", and earnestly maintain the order and social stability of the financial market. Strengthen three-dimensional and information-based monitoring and early warning, adhere to the combination of crackdown and prevention, and treat both symptoms and root causes, and improve the ability of early prevention and early treatment and precise disposal. Encourage the masses to report clues, and strive to form a good situation of mass prevention and treatment.
Source: Financial Times client
Reporter: Xu Beibei
Editor: Yang Jingyi
Email: [email protected]