On September 28, the Jiangsu Provincial Local Financial Supervision Bureau, the Nanjing Branch of the People's Bank of China, the Jiangsu Banking and Insurance Regulatory Bureau, and the Jiangsu Securities Regulatory Bureau jointly held a press briefing on the "14th Five-Year Plan for Financial Development of Jiangsu Province" to report on the start of the 14th Five-Year Plan for Jiangsu Finance since the beginning of this year, as well as the key work arrangements for the next step. It is worth mentioning that the revenue and net profit of listed companies in the province in the first half of the year increased by more than 30% year-on-year. Yangzi Evening News/Purple Cow News reporter Xu Jing
The quality of listed companies has steadily improved
According to Zha Binyi, director of the Jiangsu Provincial Local Financial Supervision Bureau, since the beginning of this year, Jiangsu's main financial indicators have continued to maintain steady growth and rank in the forefront of the country. At the end of August, the balance of local and foreign currency manufacturing loans in the province was 2.08 trillion yuan, an increase of 13.24% year-on-year, achieving double-digit growth for 11 consecutive months. At the same time, among the new inclusive small and micro loans, credit loans accounted for 47.7%, and from January to August, the financing interest rate of registered enterprises on the provincial comprehensive financial service platform was 4.72%, which was at a historically low level.
The development of multi-level capital markets is "accelerated". Zha Binyi said that from January to August, there were 54 new domestic listed companies in the province, ranking third in the country, of which 20 new listed companies on the science and technology innovation board were added, ranking second in the country; 10 new "new three board" listed enterprises, ranking first in the country; from January to August, 1523 new listed and displayed enterprises in the Jiangsu Equity Exchange Center, with a financing amount of more than 5 billion yuan.
"The quality of listed companies has steadily improved." Qian Zongbao, deputy director of the Jiangsu Securities Regulatory Bureau, said, "Listed companies in the province achieved operating income of 1.46 trillion yuan and net profit of 135 billion yuan in the first half of the year, an increase of more than 30% year-on-year. At the same time, more than 30% of the province's state-level specialized new "little giant" enterprises are listed, listed or enter the ranks of proposed listing in the capital market. A total of 850.1 billion yuan of private equity and venture capital funds provide sufficient financial support for unlisted enterprises to start a business and innovate. In the next step, the bureau will support eligible enterprises to list on the Shanghai, Shenzhen and Beijing stock exchanges, strive for more companies to be listed on the New Third Board, and encourage private equity and venture capital funds to invest in small, early and technology investment.
Multi-sectoral efforts to resolve financial risks
Financial security is closely related to the lives of ordinary people. Zha Binyi said that since the beginning of this year, the number of newly established criminal cases of illegal fund-raising in the province, the amount involved in the case, and the number of people participating in fund-raising have continued to decline; the scale of unpaid business in the stock of exit-like P2P platforms has continued to drop, the number of institutions, the unpaid balance, the number of lenders and other indicators have further dropped compared with the previous period, and a number of local financial organizations with stagnant operations or violations of laws and regulations have withdrawn from the market.
Qian Zongbao introduced that the Jiangsu Securities Regulatory Bureau resolved the risk of delisting of listed companies through multiple channels and achieved the smooth delisting of 2 companies. Maintaining a good performance of "zero default" on corporate bonds since 2020. The risk base of private equity funds in the province was preliminarily clarified. Implement the "zero tolerance" policy, strictly investigate and handle major cases such as financial fraud and capital appropriation.
Affected by the epidemic, some small and medium-sized enterprises have fallen into difficulties, and the Jiangsu financial regulatory authorities have given strong help. Zhou Shengwu, a second-level inspector of the Jiangsu Banking and Insurance Regulatory Bureau, said that focusing on supporting small and medium-sized enterprises and difficult industries to continue to recover, in the first half of the year, the banking industry was promoted to issue a first loan of 90.7 billion yuan for 29,000 small and micro enterprises, and a special action was carried out to expand the scope of the first loan of small and micro enterprises, and organized bank-enterprise docking for 174,000 non-loanable households with financing needs. At the end of August, the balance of loans for inclusive small and micro enterprises was 1.9 trillion yuan, an increase of 27.8% over the beginning of the year, and the loan interest rate continued to drop by 0.24 percentage points compared with the previous year. Improve the financing consultation and support mechanism of private enterprises, accumulate more than 50 large and medium-sized private enterprises, and resolve the risk of delisting of many listed companies.
The Yangtze Evening News/Purple Cow News reporter learned that the next step of the local financial supervision bureau of Jiangsu Province will be to guard the bottom line of financial risk prevention and control, strengthen the coordination and cooperation with the local coordination mechanism of the Financial Commission Office, accelerate the construction of the province's local financial supervision and financial risk monitoring and early warning system, and urge all localities to fully implement the territorial responsibilities of financial risk disposal. Implement the implementation plan of the provincial government's "Regulations on the Prevention and Disposal of Illegal Fund-raising", formulate the "Guidelines for the Prevention and Disposal of Illegal Fund-raising Internal Work" as soon as possible, and ensure that territorial responsibilities are implemented in detail.
Improve the efficiency of the real economy of financial services
According to reports, in the next step, the provincial local financial supervision bureau will systematically promote the financial reform, development and stability of the province, keep the "main position", promote the local financial supervision work to be stable and far-reaching on the track of the rule of law, and properly resolve and deal with various financial risks.
For improving the efficiency of the real economy of financial services, the bureau will strengthen the coordination of financing for major projects and key enterprises. Expand and upgrade the "One Netcom" project for small and medium-sized and micro enterprises in financial services, and carry out policy assistance to enterprises whose financing has been continuously frustrated in the comprehensive financial services platform. Achieve full coverage of government financing guarantee institutions in cities and counties, and promote the stability and reduction of enterprise financing costs. Guide and support financial institutions to increase support for regions and industries affected by the epidemic.
In addition, on the track of the rule of law, the provincial local financial supervision bureau will implement the "Local Financial Regulations of Jiangsu Province", do a good job in the establishment, reform, abolition and release of relevant policy documents, and step up the introduction of supporting regulatory systems. Strictly enforce market access and withdrawal of local financial organizations, pay close attention to classified supervision, support the superior and limit the inferior measures, investigate and deal with violations of laws and regulations by local financial organizations in accordance with the law, and improve the efficiency of local financial governance.
Proofread by Faye Wong
Source: Purple Cow News