On the evening of October 20, the parallel forum "Real Economy and Financial Services" was held at the 2021 Financial Street Forum Annual Conference. The forum guests discussed the topic of "Financial Innovation Helps Manufacturing Power". Wang Yiming, vice chairman of the China Center for International Economic Exchanges, said in his speech that it is necessary to promote the high-quality development of the manufacturing industry through innovative financial product and service models.
Wang Yiming believes that financial innovation to help the construction of a manufacturing power, it is necessary to focus on enhancing the competitiveness of the manufacturing industry, improving the modernization level of the industrial chain, innovating the financial product and service model, opening up the blockages and pedigrees of technology, industry and finance, strengthening support for manufacturing technology innovation and digital, intelligent and green transformation, and promoting the high-quality development of the manufacturing industry.
In recent years, positive progress has been made in financial support for the development of the manufacturing industry, but there is still a barrier between finance and the development of industrial science and technology. The financial business model and the construction of a manufacturing power are not completely matched, and the manufacturing financing system and structure are not yet perfect.
Based on this, Wang Yiming put forward four suggestions:
The first is to innovate financial business models. There are many categories of manufacturing industry, and the trend of subdivision is obvious. The requirements of technological innovation, product innovation and management innovation are different, so there are differences in the financing demand mode, so it is necessary to innovate and develop a financial product system that meets the characteristics of different types of manufacturing. According to the different stages of enterprise development, we provide financial products such as credit, bonds, equity, leasing, insurance, trust, etc., carry out targeted financial innovation, and provide full life cycle services for manufacturing enterprises.
The second is to develop industrial chain finance. There are many upstream and downstream enterprises in the manufacturing industry, and they have gradually formed a highly complementary and mutually cooperative industrial system in the participating industrial chain. Therefore, it is necessary to design personalized and diversified financial service products for all aspects of the industrial chain, accurately match the needs and supply of upstream and downstream small and medium-sized manufacturing enterprises, and improve the allocation efficiency of funds.
The third is to strengthen intellectual property pledge financing. Expand all kinds of movable property mortgages, technology patent pledges, pledges of future income rights and other innovative or intellectual property pledge businesses. Actively use a variety of financing tools such as accounts receivable pledge, warehouse receipt pledge loan, financial lease loan, etc., to create asset securitization products suitable for the development characteristics of science and technology manufacturing enterprises, and increase support for technological innovation in the manufacturing industry.
The fourth is to actively develop green finance. Improve the standard system of green finance, increase the supply of green financial products and services, set up carbon emission reduction financial instruments, support innovation in areas such as energy conservation and environmental protection carbon emission reduction technologies, expand the scale of green bond issuance, encourage social capital to set up green and low-carbon industry investment funds, and promote the green and low-carbon transformation of the manufacturing industry.
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