Jinyun News: On the morning of August 1, the Information Office of the Municipal Government held a press conference to interpret the opinions on financial support for Tianjin's high-quality development and the policies and measures to promote the high-quality development of the financial innovation operation demonstration zone. Liang Jun, deputy secretary general and spokesman of the municipal government, Xia Hongtao, vice president of the Tianjin branch of the People's Bank of China, Zhao Yulong, director of the Tianjin Supervision Bureau of the State Financial Supervision Administration, Zhang Wenxin, director of the Tianjin Supervision Bureau of the China Securities Regulatory Commission, and Liu Huijie, director of the Municipal Local Financial Management Bureau, briefed reporters and answered questions raised by reporters.
Do a good job in the "five major articles" and characteristic finances such as industrial finance and shipping finance to further help the high-quality development of the city's finance
Xinhua News Agency: Doing a good job in the "five major articles" of finance is an important part of the construction of the Jinchuang Zone, how is the current progress in promoting the "five major articles" of finance? In addition, what measures are there to promote the development of characteristic finance such as industrial finance and shipping finance?
Xia Hongtao: Doing a good job in the "five major articles" of finance is an important deployment made by the Central Financial Work Conference. The Tianjin Branch of the People's Bank of China attaches great importance to the work of the "Five Major Articles", taking it as an important part of promoting the construction of Jinchuang Zone and a powerful starting point for serving the high-quality development of Tianjin. Since the beginning of the year, a series of targeted work has been organized and carried out through the special formulation and issuance of the "Implementation Opinions on Doing a Good Job in Five Major Articles on Finance to Empower the High-quality Development of Tianjin".
In terms of science and technology finance, we will organize and carry out the special action of "100 institutions, 100 billion financing, and 10,000 enterprises" to improve the capacity of science and technology finance, implement the plan for the common growth of science and technology-based small and medium-sized enterprises, establish a "host bank" system for financial services in science and technology parks, and separately list a special quota of 5 billion yuan for re-lending to science and technology-based small and medium-sized enterprises, carry out the evaluation of the implementation effect of special credit policies, and guide financial institutions to provide diversified and relay financial services for science and technology enterprises. Up to now, the city's loans to high-tech enterprises and technology-based small and medium-sized enterprises have increased by 13.2% and 38.1% year-on-year respectively.
In terms of green finance, we have focused on policy standards, incentive mechanisms, information disclosure, etc., and have successively issued policies such as the "Tianjin Green Gold Ten Measures" and expanding the use of carbon emission reduction support tools. It has organized the development and release of special standards for carbon accounting, green financial leasing, and transition finance for the chemical industry, some of which are at the forefront of the country and have played a leading role. Since 2021, the city's green loan balance has exceeded 400 billion, 500 billion and 600 billion yuan, reaching 656.4 billion yuan at the end of June this year, a year-on-year increase of 18.2%.
In terms of inclusive finance, we will focus on serving people's livelihood and solving the financing problems of private small and micro enterprises, promote the project of improving the financial service capacity of small and medium-sized enterprises, implement the "three-four-five-six" special action of financial support for the private economy, and carry out the activities of "four advances, four deliveries, and four solutions". By the end of June, the balance of inclusive small and micro enterprise loans in the city increased by 16.4% year-on-year.
In terms of pension finance, to carry out the "financial service level for the elderly" action, up to now, the city has 2,820 bank outlets to complete the transformation of the elderly, accounting for 97.5%. At the same time, we will actively use the special re-lending policy for inclusive pension to guide financial institutions to connect and support pension institutions and elderly product manufacturing enterprises.
In terms of digital finance, we will promote digital transformation and upgrading projects and expand the application scenarios of digital yuan. As of the end of June, e-CNY had achieved full coverage of 16 major application scenarios, with the number of transactions and the amount of transactions exceeding 30 million and 20 billion yuan, respectively. In addition, while doing a good job in the "five major articles", we actively promote the development of characteristic finance such as industrial finance and shipping finance around the "Ten Actions" for high-quality development. In conjunction with the Financial Office of the Municipal Party Committee and other departments, we will continue to implement the special actions of version 1.0, 2.0 and 3.0 of the key industrial chain of financial services, implement the "Beijing-Tianjin-Hebei Industrial Chain Financial Support Plan", and separately list 10 billion yuan of priority guidance quota for small re-lending to the manufacturing industry to guide more funds to invest in the manufacturing industry. As of the end of June, a total of 33.7 billion yuan of relevant re-lending and re-discounting funds had been provided, and more than 10,000 manufacturing enterprises had been guided and supported. In the first half of the year, the balance of manufacturing loans in the city increased by 11.4% year-on-year, of which medium and long-term loans have maintained double-digit growth for three consecutive years. In terms of shipping finance, we focus on strengthening policy support and incentives, supporting the inclusion of Hong Kong-appropriate enterprises in the scope of high-quality cross-border RMB settlement enterprises, actively participating in the development of Tianjin's shipping finance development index, and promoting the enhancement of shipping financial service capabilities.
In particular, the re-lending and re-discounting support quota in Tianjin's advanced manufacturing industry can be appropriately increased according to actual needs, support Tianjin to participate in the implementation of the "financial integration of science and technology industry", continue to carry out pilot projects for green finance and transition finance standards, promote intelligent financial services, and build a comprehensive financial service platform for small and micro enterprises. Build a financial information innovation cloud platform and so on. These measures will further contribute to the high-quality development of the city's finance. We will earnestly strengthen policy publicity, refine implementation measures, guide financial institutions to optimize resource allocation, effectively strengthen high-quality financial services for major strategies, key areas and weak links, and provide strong support for the construction and high-quality development of Jinchuang District in our city.
Do a solid job in four aspects to promote the construction of Jinchuang District and better serve the high-quality development of the city
Tianjin Daily: As one of Tianjin's "one base and three districts", what innovative measures will be taken to promote the construction of Jinchuang District and better serve the city's high-quality development?
Liu Huijie: Thank you very much for your long-term concern, attention and support for Tianjin's financial work. The "Opinions" released this time is not only an important institutional document for Tianjin's financial industry to thoroughly implement the spirit of the Third Plenary Session of the 20th Central Committee of the Communist Party of China and comprehensively deepen financial reform, but also a directional policy for us to build a high-standard Jinchuang Zone and promote the city's high-quality financial development. In the next step, we will conscientiously make good use of the "Opinions", combined with the "Plan for Further Promoting the Construction of Financial Innovation Operation Demonstration Zone" issued by the municipal government at the end of last year, and do a solid job in the following four aspects:
The first is to give full play to the leading role of policies and make overall plans for the implementation of the organization. According to the "Opinions", we should study and formulate the specific implementation plan of our city, clarify the timetable and roadmap, and ensure the implementation of the "Opinions" in Tianjin. At the same time, we will accelerate the study and introduction of specific implementation rules for the city's policies and measures to support the high-quality development of Jinchuang District, so as to provide policy guarantee for the implementation of the "Opinions" and the construction of Jinchuang District.
Second, we will continue to enhance the innovation vitality of financial services for the real economy and promote high-quality development. We will do a good job in the "five major articles" of finance, and organize financial institutions to continue to increase financial support in key areas of the real economy such as new productivity, scientific and technological innovation, and green and low-carbon. Accelerate the development of shipping finance, release the Tianjin shipping finance development index report, consolidate and enhance the leading advantages of financial leasing and commercial factoring, and form a characteristic brand of shipping finance.
The third is to focus on promoting the construction of financial agglomeration symbol areas and creating financial-themed and characteristic buildings. The construction plan of Jinchuang District clearly proposes to build four financial agglomeration symbol areas, including the financial historical and cultural district, the financial development vitality area, the leasing innovation demonstration zone, and the industrial financial development zone, in the relevant functional areas of Heping, Hexi and Binhai New Areas. This year, we will focus on promoting the formation of financial service groups in Heping District around Vantone Center and Chinese Life Financial Center; Promote Hexi District to build Xinyin Building, Wanshun International Trade Center and Jinyi Building into science and technology finance, pension finance characteristic buildings and financial talent service centers respectively; Promote the Dongjiang Comprehensive Bonded Zone to give full play to the advantages of the financial leasing industry and build a port city building; Promote the Economic Development Zone to focus on commercial factoring and other characteristic business formats, and focus on building Baoce Building into the largest industrial digital financial technology base in the north.
The fourth is to revitalize the use of idle assets and resources to create the "eye" of the Jinchuang Zone. Thoroughly implement the city's "three new" and "three quantity" work requirements, carry out financial revitalization of idle buildings in the financial historical and cultural district of Jiefang North Road, build Tianjin Financial Exhibition Center and Financial Institution Service Center in the original Kailuan Mining Bureau building, promote the settlement of high-quality institutions, implement professional operation, and hold high-end activities on a regular basis, so as to become a boutique place to promote financial culture with Chinese characteristics and high-quality service financial institutions. At the same time, a financial entity exhibition center will be built on the 40th floor of Xinyin Building, a financial development vitality area on Youyi North Road, to revitalize idle assets and create a "city living room".
Establish the "Four Lists" to build and promote a virtuous circle of "science and technology-industry-finance".
Hong Kong Commercial Daily: I noted that in October last year, the Tianjin Financial Regulatory Bureau, together with the municipal departments of science and technology, industry and information technology, took the lead in launching a pilot project for a new cycle of "science and technology-industry-finance". In the pilot process, what pioneering exploration practices with Tianjin characteristics have been carried out?
Zhao Yulong: In October last year, the Tianjin Financial Supervision Bureau, together with the municipal departments of science and technology, industry and information technology, took the lead in launching a pilot project for a new cycle of "science and technology-industry-finance" in the country. Since the launch of the pilot project, we have established "four lists" to lead banking and insurance institutions in Tianjin to closely focus on Tianjin's key industrial chains, focus on scientific and technological self-reliance and self-reliance, and jointly build a "1+N" pilot radiation area with TFI Park as the core, so as to build and promote a virtuous cycle of "science and technology-industry-finance".
The first list is the "List of Science and Technology Innovation Enterprises" provided to financial institutions. We have cooperated with various departments to establish a list of Tianjin science and technology enterprises, and there are currently more than 18,000 enterprises in the database. We have added multi-dimensional labels such as industrial chain, intellectual property rights, and scientific and technological talents to the enterprises in the warehouse, and guided 26 banks to create and launch credit enhancement products for scientific and technological innovation elements to help enterprises obtain financing and credit enhancement, which will help solve the problem of unquenching the thirst of asset-light technology enterprises.
The second list is the "List of Bank Credit Products" for SMEs. We have created a self-selected applet for financial products called "Jinhuitong", which collects more than 300 scientific and technological innovation credit support products from more than 40 banks under our jurisdiction, and officially settled in the "Jinxinban" APP of Tianjin Municipal Government to help enterprises independently query, compare and screen out suitable financial products according to their own conditions and personalized needs, which will help solve the problem that science and technology enterprises cannot find or understand financial products. It helps banks to directly reach enterprises, plays a role in disintermediation, shortens the financing chain, and reduces financing costs. In the first half of the year, a total of nearly 1 billion yuan of first loans were issued to 307 science and technology enterprises.
The third list is the "List of Local Investment Institutions in Tianjin" provided to financial institutions. As we all know, science and technology finance cannot only rely on bank financing, but also needs equity investment, venture capital and other institutions to provide relay full-cycle financial services. We guided the Tianjin Banking Association to work with the Tianjin Asset Management Association to formulate and publish the first batch of 20 local investment institutions in Tianjin, supporting banks to explore the linkage method of "loan + external direct investment" under the premise of controllable risks, which will help solve the financing blockage problem of start-ups established for less than three years. At present, relying on the investment institutions in the list, the banks under the jurisdiction have carried out business innovations such as batch customer acquisition, investment and financing matching, and research and development of investment-loan linkage products.
The last list is the "differentiated management list" explored and established by the pilot institutions promoted by the regulator. To do a good job in science and technology finance, financial institutions need to be differentiated in terms of internal management such as business philosophy, business process, talent team, and assessment system. We have set up a total of 11 monitoring points for credit approval, product creation, assessment and incentives, and established a pilot work ledger to monitor the innovative measures and effects of the pilot institutions in terms of institutional mechanisms, so as to promote financial institutions to form a sustainable business model in their respective subdivided industrial tracks and enterprise life cycle tracks, which will help explore the formation of a pilot model that can be replicated and easily promoted in a larger scope.
In addition to banking institutions, insurance also plays an important role in fintech technology. As of the end of June, the insurance has provided risk protection of 78 million yuan for 30 laboratories including many universities and scientific research institutions in the city.
The "four forces" promote the construction of the city's Jinchuang District in the field of capital market
21st Century Business Herald: The construction of Tianjin Financial Innovation Operation Demonstration Zone is inseparable from the strong support of the capital market and direct financing.
Zhang Wenxin: In recent years, under the strong leadership of the Party Committee of the China Securities Regulatory Commission and the strong support of the Municipal Party Committee and Municipal Government, the Tianjin Securities Regulatory Bureau has implemented the spirit of the Central Financial Work Conference and the spirit of General Secretary Xi Jinping's important speech on inspecting Tianjin, highlighting the main line of "strengthening supervision, preventing risks, and promoting high-quality development", focusing on the city's "Ten Actions" and "Three New and Three Quantities" work, and promoting the construction of the city's Jinchuang Zone in the field of capital market. I will mainly introduce four aspects here, which are reflected in the four forces.
The first is to give full play to the function of the capital market and serve the real economy. In terms of the listing of new enterprises, since 2021, the number of A-share listed companies in our city has increased from 59 to 72, a net increase of 13, and there are 27 companies to be listed, basically forming a listing echelon system of "reserve cultivation, key backup, and guidance under review". Another example, in terms of promoting direct financing, since 2021, the city has used various types of financing in the multi-level capital market to exceed one trillion yuan, of which this indicator will break 500 billion yuan for the first time in 2023, hitting a record high. In terms of improving the quality of listed companies, six listed companies achieved risk mitigation and business transformation through the implementation of major asset restructuring, which fully reflected the important role of mergers and acquisitions. A number of listed companies have become industry leaders, such as Haiguang Information, Sugon, COSCO Shipping Holdings, CNOOC, CNOOC Engineering, Kailaiying, etc. There are 40 listed companies in 12 key industrial chains in our city, of which more than half are chain owners, and 3 are national-level chain owners. On the whole, listed companies have become the main force and leader of high-end equipment, information innovation, biomedicine and other industrial chains. For another example, in terms of guiding the development of private equity funds, the management scale of private equity funds in our city exceeds 640 billion yuan, ranking 8th in the country; The national private equity fund has invested in 980 enterprises in our city, with an investment capital of nearly 180 billion yuan.
The second is to make efforts to support the innovation of regional equity markets. Support the city's regional equity market to be approved by the China Securities Regulatory Commission to carry out system and business innovation pilots, blockchain construction pilots, Tianjin OTC "specialized, special and new" board construction plan by the China Securities Regulatory Commission for the record, the existing board enterprises 278, and the new third board to establish a "green channel" mechanism and "publicity review" mechanism, which is a major measure of the new third board reform. At present, a number of companies have successfully achieved listing through the "green channel" mechanism of the New Third Board.
The third is to support the innovation of financial products and tools. Since 2021, it has supported enterprises in our city to issue innovative bonds such as science and technology innovation bonds and green bonds to raise more than 400 billion yuan. The scale of bond financing is large, but it is not easy to finance science and technology innovation bonds. Two infrastructure public REITs were approved this year, which is expected to drive investment of 120 billion yuan in new projects. Promote the inclusion of 4 funds of Tianhong Fund in the first batch of individual pension investable public funds in the country, with a special share of more than 15 million yuan.
Fourth, we should make efforts to support the standardized development of securities, funds, and futures institutions and improve their competitiveness. The wealth management scale of securities, funds and futures institutions in the city exceeded 2 trillion yuan. Specifically, the net value of Tianhong Fund's public offering fund is about 1.2 trillion yuan, ranking 5th in the country; Bohai Securities has recently set up a special business department in TFI Higher Education Science and Technology Innovation Park, the source of scientific and technological innovation in our city; 6 futures legal entities rank 7th in the country, of which 4 futures companies have increased their capital by more than 800 million yuan to enhance their capital strength, and 5 futures companies have set up risk management subsidiaries.
In the next step, the Tianjin Securities Regulatory Bureau will combine the implementation of the "Opinions" with the implementation of the spirit of the Third Plenary Session of the 20th Central Committee of the Communist Party of China, and the implementation of the new "National Nine Articles" of the capital market and a series of supporting policy documents, so as to help the construction of Jinchuang District and the high-quality economic development of our city.
The financial reform policies have all been implemented, and the dividends of reform, opening-up, and system have continued to appear
Financial Times: Financial reform has always been a key area of reform and innovation in the Tianjin Pilot Free Trade Zone. What are the achievements of financial reform and innovation and cross-border financial services in the Tianjin Pilot Free Trade Zone?
Xia Hongtao: The financial reform and innovation in the Tianjin Pilot Free Trade Zone started earlier, and the policies approved for implementation in the "30 Articles of the Golden Reform" have all been implemented, and the dividends of reform, opening-up and system continue to appear. In recent years, the Tianjin Branch of the People's Bank of China has actively aligned with international high-standard economic and trade rules, deepened various financial reform and innovations, and continuously improved the quality and efficiency of foreign exchange and cross-border financial services.
First, cross-border trade investment and financing services are more convenient and efficient. Promote the expansion and efficiency of the trade balance facilitation policy for high-quality enterprises, so that more small and medium-sized enterprises with good credit, small scale and large number of transactions can enjoy the policy dividends. By the end of June, there were 17 pilot banks and 284 pilot enterprises in the city, with a scale of 37.1 billion US dollars. As of the end of June, the city had handled nearly 70,000 facilitation transactions, amounting to US$4.2 billion. For example, in the first half of the year, a high-tech enterprise in our city took advantage of the policy to increase the cross-border financing limit to 3 times the original amount, and the borrowing interest rate was only 2.78%, which was 2 percentage points lower than the domestic RMB loan interest rate in the same period. As of the end of June, there were 955 high-quality cross-border RMB facilitation enterprises in the city, with a business scale of more than 320 billion yuan.
Second, the application of the free trade account (FT account) function has been deepened. Relying on the financing advantages of FT accounts in the "two markets" of offshore and onshore, it has provided preferential financing interest rates and loan support for entities in the pilot free trade zone, and has issued loans of more than 60 billion yuan. Innovate and launch the FT branch model to build a bridge for enterprises in non-pilot free trade zones to enjoy free trade policies and systems. We will continue to optimize the "white list" policy for FT accounts, simplify the management procedures for high-quality customers, and relax the threshold for identification. As of the end of June, the cumulative settlement of Tianjin FT accounts exceeded one trillion yuan, and the full-featured FT capital pool gathered more than 35 billion yuan.
Third, the foreign exchange service of the characteristic leasing industry has been tried first and new breakthroughs have been made. As of the end of June, leasing enterprises had collected a total of 31,000 foreign currency rents for domestic operating leases, amounting to US$21.7 billion. As of the end of June, 41 special purpose vehicles (SPVs) under four financial leasing companies in the city had shared a foreign debt quota of US$1.37 billion. Support financial leasing companies to carry out offshore financial leasing business, and the country's first offshore financial leasing business for aircraft engines has landed in Tianjin. By the end of June, the city had handled a total of 278 foreign claims registration business for offshore financial leasing such as aircraft and ships, with a capital of 6.67 billion US dollars.
The "Opinions on Financial Support for Tianjin's High-quality Development" proposes a series of new policy measures to optimize the pilot free trade zone and cross-border financial services from the aspects of improving the convenience of cross-border RMB business, promoting the facilitation reform of foreign exchange management, promoting the application of FT accounts, and optimizing foreign exchange services under the capital account. In the next step, under the guidance of the People's Bank of China and the State Administration of Foreign Exchange, we will thoroughly study and implement the spirit of the Third Plenary Session of the 20th Central Committee of the Communist Party of China, benchmark the advanced, grasp the advantages, accelerate the upgrading and iteration of the financial reform policy in the free trade zone, and contribute to the high-level opening up of Tianjin's financial industry.
The promulgation of the "Opinions" further exerts the strong potential energy of high-quality agglomeration and high-quality development of the city's leasing industry
Hong Kong Ta Kung Pao: I understand that green finance, especially green leasing, is Tianjin's dominant industry, what role does the promulgation of the "Opinions" play in promoting the development of green leasing in Tianjin?
Liu Huijie: In recent years, our city has continued to work hard and for a long time to promote the services of the leasing industry and support the high-quality development of the green industry, leading the green and low-carbon transformation of the industry, guiding leasing companies to continuously innovate products by relying on the advantages of leasing agglomeration, deeply cultivating the development of green industries, and striving to build a national green energy leasing center. We will work with the Tianjin Branch of the People's Bank of China and other departments to support the construction of a green leasing service process pilot zone in the Dongjiang Comprehensive Bonded Zone, and support the Dongjiang Comprehensive Bonded Zone to take the lead in promulgating the "Green Financial Leasing High-quality Development Implementation Plan" and the supporting financial leasing green evaluation mechanism. It is also the first project for a financial institution to adopt and use the third-party green lease evaluation results to provide green credit support, which has very important demonstration significance. Since the beginning of this year, we have supported Dongjiang to launch the country's first green leasing standardization service platform, "Green Leasing Cloud", and worked with the Tianjin Branch of the People's Bank of China and the Dongjiang Comprehensive Bonded Zone to promote the formulation and release of the country's first green financial leasing project evaluation group standard. As of the end of June this year, the balance of the leasing business of the city's leasing companies serving the green industry was nearly 500 billion yuan, and the green leasing assets accounted for more than 20%, continuing to promote the green leasing brand of Tianjin.
The "Opinions" propose to support the construction of a "national new energy facility leasing center" in our city, "support the construction of a green leasing high-quality development zone in Tianjin Dongjiang Comprehensive Bonded Zone, and take the lead in carrying out green leasing standard pilots and application demonstrations", which will further promote the optimization of the city's green leasing industry service supply, further help the city's green leasing scale growth, business innovation, and standard refinement, and further give full play to the strong potential energy of high-quality agglomeration and high-quality development of the city's leasing industry. We will firmly grasp the opportunity, make full use of the policies, give full play to the leading and exemplary role of the national new energy facility leasing center and the green leasing high-quality development zone, continue to formulate new goals and expand new channels for the development of green finance and green leasing, continue to promote the innovation of green leasing products and models, and promote the high-quality development of green finance.
Make good use of the Beijing-Tianjin-Hebei financial supervision coordination mechanism to promote the implementation of various support measures
China Banking and Insurance News: Just now, the leaders of the Financial Supervision Bureau mentioned that the next step is to make good use of the Beijing-Tianjin-Hebei financial supervision coordination mechanism and promote the implementation of various support measures.
Zhao Yulong: In March 2023, under the guidance of the State Administration of Financial Regulation, the financial regulatory bureaus of Beijing, Tianjin and Hebei jointly signed a memorandum of understanding on financial regulatory coordination in Beijing, Tianjin and Hebei, establishing "three mechanisms" to promote the coordination of financial supervision in Beijing, Tianjin and Hebei. The first is the rotating organizational mechanism, in which the supervision bureaus of the three places take turns to serve as the rotating bureaus, responsible for proposing to convene a joint meeting to agree on the theme of phased regulatory cooperation. Since the signing of the memorandum, the Political Research Department of the State Administration and the supervision bureaus of the three places have taken the lead in convening four joint working meetings on financial supervision in Beijing, Tianjin and Hebei.
The second is the regular consultation mechanism, in which the regulatory authorities of the three places exchange the latest progress of specific coordination matters through joint meetings, analyze the existing difficulties and problems, and negotiate improvement measures. We will continue to carry out work exchanges, pilot trials and mutual learning in the areas of analysis of regional economic and financial operation situation, cross-regional key project services, and auto insurance collision and quick compensation. We have promoted the establishment of the Beijing-Tianjin-Hebei Coordinated Development Financial Services Alliance by the Tianjin Banking Association, issued special policies to strengthen credit services and management for key projects in the coordinated development of Beijing-Tianjin-Hebei, and formulated 16 specific measures in six areas to support banking financial institutions in cross-regional collaborative services for major projects. As of the end of June, the balance of loans of banking institutions under the jurisdiction to support the Beijing-Tianjin-Hebei coordinated development project was 680 billion yuan, an increase of 53 billion yuan from the beginning of the year. Among them, the Tianjin Branch of China Development Bank and the Beijing Branch formed a syndicated loan of more than 9 billion yuan, which was invested in Tianjin LNG (Phase II) and Tianjin Nangang 1.2 million tons of ethylene projects, effectively reflecting the advantages of Beijing-Tianjin-Hebei collaborative support for the construction of key projects.
The third is the work reporting and joint document issuance mechanism, which summarizes the effectiveness of regulatory coordination work from time to time, jointly or entrusts one party to report to the higher authorities, and cooperates to form innovative institutional arrangements or representative project cases that support the coordinated development of Beijing-Tianjin-Hebei. Since the establishment of the mechanism, the financial regulatory bureaus of the three places have jointly issued two supporting policies to help the high-quality development of Beijing-Tianjin-Hebei. The first is to issue the "Notice on Strengthening Financial Services for New Citizens to Support the Coordinated Development of Beijing-Tianjin-Hebei", focusing on the high-frequency scenarios of financial services for new citizens and the urgent problems of new citizen groups, and proposing targeted solutions to further improve the availability and convenience of financial services for new citizens in the Beijing-Tianjin-Hebei region. The second is to issue the "Notice on Synergistically Promoting Green Finance to Promote the High-quality Development of Beijing-Tianjin-Hebei", which clarifies the guiding ideology and main objectives of the three places to promote the development of green finance, and puts forward key tasks from the aspects of institutional mechanisms, key regions, industrial projects, reform and exploration, risk prevention and control, and information sharing, so as to help Beijing-Tianjin-Hebei coordinate carbon reduction, pollution reduction, green expansion, and growth, and achieve high-quality development. (Jinyun News reporter Ma Lijie photography Wu Tao)