Optimizing the policy of loan renewal without repayment, accelerating the issuance of technology renovation reloans, and initiating the construction of a Chinese consumer brand matrix... The Ministry of Industry and Information Technology, the State Financial Supervision Administration, and other departments will introduce a package of incremental policies covering various aspects such as reducing the burden on enterprises, optimizing the business environment, and resolving financing difficulties. These policies aim to provide precise support for the development of different business entities, with greater efforts to solve corporate difficulties and boost confidence in business development.
Promoting consumption and expanding domestic demand to help enterprises explore markets
In response to the challenge of insufficient orders for some enterprises, the Ministry of Industry and Information Technology will cooperate with relevant departments to introduce a series of measures to promote consumption and expand domestic demand in the fourth quarter, helping enterprises to explore markets.
The Ministry of Industry and Information Technology will focus on investment-driven initiatives, implementing technology renovation upgrades and equipment renewal projects. Specific measures include urgently issuing approvals and funds for ultra-long-term special treasury bond support projects, accelerating the disbursement of the signed 150 billion yuan technology renovation reloan; planning ahead for the 2025 pilot cities for new technology renovation in the manufacturing industry; organizing the accelerated construction of reserved projects in the industrial field to quickly form more physical work volume.
"Currently, there are about 36,000 ongoing and newly started projects in the industrial field, which are expected to drive investment of over 11 trillion yuan in the next three years," said Wang Jiangping, Deputy Minister of Industry and Information Technology.
In terms of expanding consumption, the Ministry of Industry and Information Technology will organize a series of actions to optimize supply and promote upgrades, continue to promote the policy of exchanging old consumer goods for new ones, and will continue to hold special events for new energy vehicles in rural areas before the end of the year. It will also promote the rural deployment of charging infrastructure, adding a batch of pilot cities for the comprehensive electrification of public vehicles. At the same time, the Ministry of Industry and Information Technology will initiate the construction of a Chinese consumer brand matrix, carefully selecting a thousand Chinese consumer brands from three dimensions: historical classics, contemporary excellence, and trendy new entries, and launch the first batch of a hundred high-quality brands with global recognition. Through global communication and promotion activities, the international influence of Chinese brands will be enhanced.
The State Administration for Market Regulation will issue the "Opinions on Guiding Online Trading Platforms to Play a Positive Role in Traffic and Support the Development of Small, Medium, and Micro Enterprises." The opinions encourage online trading platform companies to reasonably allocate traffic resources, especially to agricultural product operators, characteristic operators, and newly settled operators.
By combining large-scale promotions and other activities, traffic support for enterprises and merchants within the platform is increased, helping them to improve traffic utilization efficiency and enhance their operational management level. This fully stimulates the internal momentum and market vitality of the business entities within the platform, contributing to the expansion of domestic demand and the promotion of consumption.
Innovative forms to strengthen element security
In response to the problem of difficult and expensive financing for small and micro enterprises, the national level is advancing a series of targeted and widely covered policy measures with unprecedented strength.Deputy Director of the Financial Regulatory Administration, Cong Lin, introduced that the National Development and Reform Commission and the Financial Regulatory Administration have joined hands to establish a financing coordination working mechanism to support small and micro enterprises. The core of this mechanism is to establish a working team at the district and county level, to build a precise bridge for bank-enterprise docking, and to ensure that enterprises that are legally compliant, have good credit, and have real financing needs can obtain the necessary financial support.
Optimizing the no-principal-continuation loan policy has become a key link in alleviating the financial turnover difficulties of enterprises. This policy not only benefits small and micro enterprises but also extends to medium-sized enterprises in stages, ensuring that eligible renewal loans do not downgrade the loan classification due to the renewal action itself.
The role of the insurance mechanism as a safeguard has also been further explored. In fields such as construction engineering and foreign trade exports, innovative products such as performance bond insurance and customs duty bond insurance are gradually replacing traditional deposits. In the first half of the year, they have successfully helped 520,000 enterprises to activate funds and reduce turnover pressure. Export credit insurance companies have provided a solid backing for export enterprises through a comprehensive financial service model of "credit protection + policy financing."
These measures have improved the scale and quality of financial supply. As of the end of August this year, the balance of RMB loans reached 252.02 trillion yuan, a year-on-year increase of 8.5%; insurance companies have provided 28.8 trillion yuan of financing support through various means; from January to August this year, the interest rate on newly issued inclusive small and micro enterprise loans has also decreased by 0.4 percentage points year-on-year.
Enterprises with excellent quality will also receive more support for factor guarantees. The Ministry of Industry and Information Technology will improve the factor guarantee system that adapts to the growth of specialized and innovative small and medium-sized enterprises. Specific measures include leveraging fiscal funds to support specialized and innovative "little giant" enterprises to create new momentum, attack new technologies, and develop new products, and to strengthen the supporting capacity of the industrial chain. It plays the role of the National Small and Medium Enterprise Development Fund to drive social capital to invest early, small, and specialized and innovative. Optimize the precise financial support mechanism to support the regional equity market to build a specialized and innovative special board. Improve the mechanism for attracting, cultivating, and retaining talents to help specialized and innovative enterprises introduce various talents.
The "key move" to boost enterprise confidence
Developing the economy, the most important thing is to stabilize confidence and expectations. The draft of the Private Economy Promotion Law, which is currently open for public opinion, is an important measure to boost the confidence of private enterprises and has attracted much attention. Hu Weilie, the Vice Minister of Justice, revealed that since the draft was open for public opinion, the Ministry of Justice has received more than 1,000 suggestions and opinions.
As the first basic law in China specifically about the development of the private economy, the draft has transformed the Party Central Committee and the State Council's policies and practices for developing the private economy after the reform and opening up, especially since the 18th National Congress of the Communist Party of China, into legal systems. It implements the requirements of equal treatment and equal protection for the private economy, and constructs a long-term mechanism for stabilizing the development expectations of private enterprises and entrepreneurs, and promoting the development of the private economy.
For the first time, the draft has written "two unswervings" and "cultivating and promoting the spirit of entrepreneurs" into the law, and clearly stated that "promoting the continuous, healthy, and high-quality development of the private economy is a major policy that the state adheres to for a long time." This fully shows that promoting the development of the private economy is a major policy that the Party and the state have always adhered to and will continue to adhere to. Once these contents become legal systems, they will certainly promote the continuous, healthy, and high-quality development of the private economy.
Hu Weilie said: "In the solicitation of opinions on the Private Economy Promotion Law, opinions on enterprise-related inspections are relatively concentrated, and the inspection frequency is too high, arbitrary inspections, and repeated inspections affect the normal business activities of enterprises. The Ministry of Justice is working with relevant departments to carry out the rule of law supervision, and will take administrative inspections as a key point, and make efforts to increase the rectification, rectification, and standardization of irregular inspections and excessive inspections. After that, some typical cases will also be exposed to increase the supervision and rectification efforts."Next, the Ministry of Justice will also expedite the formulation and issuance of relevant institutional documents, strengthen the management of administrative inspections, strictly regulate inspection procedures, and guide law enforcement agencies at all levels to carry out classified inspections. This will institutionalize the rigid constraints on non-standard and excessive inspections of enterprises. At the same time, efforts will be made to promote the construction of the national comprehensive management and supervision information system for administrative law enforcement, and give full play to the role of information technology in controlling the administrative law enforcement process.
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