Xinhua News Agency, Beijing, March 2 (Reporter Wu Yu and Ren Jun) How to support the development of private enterprises? Recently, a symposium was held at the People's Bank of China. Focusing on solving the problem of difficulty and high cost of financing and improving the financing environment for private enterprises, financial management departments and financial institutions listened to the demands of private enterprises and proposed practical and hard measures, sending a strong signal to support the high-quality development of private enterprises.

At the symposium, Xia Hua, chairman of Yiwen Group, talked about a problem that plagues the development of downstream merchants in the industrial chain, which attracted the attention of participants.

"The platform we have built helps embroiderers' products to get out of the mountains and into the urban consumer market. However, in Yunnan, Guizhou, Sichuan and other places, many embroiderers in small villages do not have bank accounts. They often have to trade in cash when buying raw materials and selling embroidery products, and lack financing channels, which is very inconvenient." Xia Hua said.

Soon, Liao Lin, chairman of Industrial and Commercial Bank of China, who was also at the venue, responded: solve the bank account opening problem of embroiderers in Yunnan, Guizhou, Sichuan and other places as soon as possible.

The company's head talked about the current financing situation and expressed his expectations and demands. Financial personnel responded patiently and answered sincerely. Such communication appeared many times at the symposium, becoming a vivid portrayal of the financial system's efforts to improve the financing environment of private enterprises.

From the symposium of private enterprises at the central level, to the financial department’s implementation of decisions and deployments as soon as possible, and then to the symposium focusing on financial support, policy measures to support the development of private enterprises are being gradually implemented.

At present, my country's private economy has formed a considerable scale and occupied a heavy weight, which is also reflected in the financial field.

"98% of the company customers served by ICBC are private enterprises." The data provided by Liao Lin at the symposium reflects the importance of private enterprises to financial institutions.

Another set of data learned by the reporter from the symposium also confirms this:

At present, nearly two-thirds of listed companies in A-shares are private enterprises, about 80% of the companies on the Science and Technology Innovation Board, the GEM, and the Beijing Stock Exchange are private enterprises, and about 90% of the New Third Board are private enterprises.

"The credit limit given to us by financial institutions continues to grow, and the financial products provided are also constantly enriching, injecting financial vitality into the innovative development of the automobile industry." said Li Donghui, CEO of Geely Holdings Group.

Despite this, private enterprises still face some bottlenecks and pain points in financing, which is also reflected in the demands put forward by many enterprise leaders at the meeting: Liu Chunxi, senior executive president of Yili Group, introduced that the construction cycle of the dairy industry is relatively long, and some ranch and breeders are facing financial pressure, and urgently need support for no repayment of loan renewal and loan extension, etc. to overcome the difficulties. Yu Weijiao, chairman of YTO Group, proposed that as enterprises actively deploy and expand cross-border logistics business, it is urgently necessary to help them "show off their sails".

Xu Li, chairman of SenseTime, said that AI technology and industrial development have huge demand for capital, but the characteristics of high scientific research costs, long cycles and high risks have become obstacles to financing for many companies. We hope that more accurate financial policies will clear up the bottlenecks and blocks.

"Under the complex economic situation, opportunities and challenges coexist, the high-quality development of private enterprises urgently needs strong support from financial institutions and regulatory authorities." Xia Hua said.

If you have expectations, there will be responses; if you have questions, there will be answers—

At the meeting, multiple financial departments revealed their next work plans:

The People's Bank of China stated that it is necessary to implement moderately loose monetary policies and give full play to the role of structural monetary policy tools. Increase credit supply to private and small and micro enterprises to promote financing costs to remain low. Implement 25 measures to support the private economy in finance well and improve the credit enhancement system for private small and medium-sized enterprises. Strengthen the system construction and product innovation of the bond market, and further introduce measures to support private enterprises in issuing science and technology innovation bonds. Accelerate the issuance of policy documents for standardizing supply chain financial business and support private enterprises in the industrial chain to facilitate financing.

The State Administration for Financial Regulation proposes to continue to strengthen regulatory guidance and continue to make great efforts to guide and urge financial institutions to treat all kinds of ownership enterprises equally, make financial services for private enterprises practical, deepen and refined, and promote the healthy and stable development of the private economy.

The China Securities Regulatory Commission revealed that it will provide good support for private enterprises’ stock and bond financing, improve the multi-level market system, accelerate the cultivation of patient capital, and attract more outstanding private enterprises to use the capital market to become stronger, better and bigger.

"Supporting the high-quality development of private enterprises requires the financial department to continue to work hard and work hard for a long time." Pan Gongsheng, Governor of the People's Bank of China, said that at present, the matching degree between China's financial market and economic development is not enough, and indirect financing and direct financing are unbalanced and inconsistent; some financial institutions have risk aversion, and "dare not to lend" or "will not to lend"; some grassroots personnel still treat customer access differently and have not treated them equally... These problems still need to be solved, and multiple departments need to strengthen coordination and cooperation.

At the meeting, a relevant person in charge of the All-China Federation of Industry and Commerce said that the Federation of Industry and Commerce at all levels should give full play to the role of bridges, links and assistants, deepen investigations and research, build a docking platform, and work with financial management departments and financial institutions to improve the availability and convenience of financing for private enterprises. Private enterprises should strengthen independent innovation, improve their governance structure, attach importance to credit management, strengthen risk management, and unswervingly follow the path of high-quality development.

A symposium is difficult to solve all problems, but it has fully released the signal. Supported by the increasingly smooth financial vitality, private enterprises will continue to grow and grow, injecting a steady stream of strength into high-quality development.