CCTV, Beijing, June 15 (Reporter Jiang Yong Liu Baixuan) According to a report by China Central Radio and Television Economics “Tianxia Finance”, the Ministry of Finance has issued a special fund of 4.467 billion yuan for inclusive financial development in 2021, plus the end of 2020. The 4.748 billion yuan issued in advance and 9.215 billion yuan of special funds for 2021 have all been issued, an increase of 31.2% over the previous year. Experts pointed out that fiscal funds will play a role of four or two allocations, leveraging more funds to support the financing development of market entities.
In 2021, the special funds for inclusive financial development allocated by the Ministry of Finance will focus on key investments and concentrate financial resources to support entrepreneurship and innovation. Among all the 9.215 billion yuan of special funds, the Ministry of Finance allocated 6.336 billion yuan of interest subsidies and bonuses for entrepreneurial guaranteed loans, a year-on-year increase of 65.9%, accounting for 68.8% of the annual inclusive financial development special funds. Liu Xuezhi, a senior researcher at the Financial Research Center of the Bank of Communications, said: “Small and micro enterprises and entrepreneurial and innovative enterprises are a mainstay of employment in China’s economy, and they are also the most basic part of innovation and development. These enterprises are also enterprises with weak anti-risk capabilities in the Chinese economy. At present, fiscal funds must play a better role in targeted support, and one of the important tasks is targeted support for inclusive small and micro enterprises, as well as some entrepreneurial and innovative enterprises.”
In addition, among the 2021 special funds, 2.41 billion yuan will be allocated for financial support to deepen private and small and micro enterprise financial service pilot cities, and 60 pilot cities will be supported to improve small and micro financial services. Each pilot city will receive an average of 40 million yuan. These funds are mainly used for private and small and micro enterprise credit risk compensation or compensation, as well as government financing guarantee agency capital replenishment, and make every effort to promote the “increment, expansion, cost reduction, and quality guarantee” of private and small and micro enterprise loans, and promote the creation of fiscal “Demonstration model” for financial resources to support small and medium-sized enterprises. Zhao Xijun, co-dean of the China Capital Market Research Institute of Renmin University of China, said: “This part of the financial sector is used to compensate for the high risk premium, which means that this part of the funds can help small and micro enterprises to compensate for the risk premium. This part of the risk premium is not It is borne by the small and micro enterprises themselves, but by this part of the funds of the financial department. This reduces the expenditure pressure on the risk premium of the small and micro enterprises, and the actual cost of its credit may be reduced.”
In response to the impact of the epidemic, in 2020, the Ministry of Finance, in conjunction with relevant departments, will optimize and adjust the start-up guaranteed loans and interest discount policies, expand the coverage of loan policies, lower the threshold for loan applications, increase loan lines, and exempt counter-guarantee requirements. As of the end of 2020, the balance of national entrepreneurial guarantee loans was 221.6 billion yuan, a year-on-year increase of 53.7%; 160 billion yuan of loans were issued in 2020, benefiting 1.4 million people. Zhao Xijun said that financial funds have played a role of four or two allocations. He said: “There are a large number of domestic small, medium and micro enterprises, which require a large amount of capital. If this part of the capital is to really play a good role, it may still need some corresponding transmission mechanisms, especially in the transmission of financial institutions. , Which can really make the capital gain leverage.”
In accordance with the “Administrative Measures for Special Funds for Inclusive Financial Development”, the central government allocates special funds at the end of the third quarter of each year. In order to effectively improve the efficiency of the use of financial funds, the Ministry of Finance issued a notice in 2021, requiring provincial financial departments and local regulatory bureaus to speed up the capital declaration and review process, and for the first time complete the allocation of special funds from the central government in mid-May, more than 4 times earlier than in previous years. month. At the same time, the special funds are included in the direct fund monitoring system, and local governments are required to release the funds to the cities and counties within one month to ensure timely delivery, truthful data, clear accounts, and clear flow.
In the next step, the Ministry of Finance will further study and improve the management methods of special funds for inclusive financial development, optimize the long-term mechanism of financial support for inclusive financial development, and continuously improve the efficiency of the use of special funds.
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