The executive meeting of the State Council plans to further adopt a market-oriented approach to strengthen financial support for small, medium and micro enterprises to determine policy measures to increase support for the manufacturing industry

Li Keqiang presided over an executive meeting of the State Council

Deploy to further adopt a market-oriented approach to strengthen financial support for small, medium and micro enterprises

Determine the policy measures to increase support for the manufacturing industry to promote the stable development of the real economy

Premier Li Keqiang of the State Council presided over an executive meeting of the State Council on December 15, deploying a market-oriented approach to strengthen financial support for small, medium and micro enterprises; determining policies and measures to increase support for the manufacturing industry to promote the stable development of the real economy
.

The meeting pointed out that to implement the spirit of the Central Economic Work Conference, we must adhere to economic construction as the center, adhere to the principle of stability, seek progress while maintaining stability, and do a good job of "six stability" and "six guarantees"
.
At present, micro, small and medium-sized enterprises and individual industrial and commercial households are facing great difficulties.
It is necessary to focus on safeguarding market players and responding to the new downward pressure on the economy, and use market-oriented measures to increase financial support for micro, small and medium-sized enterprises and individual industrial and commercial households
.
It was decided at the meeting that, firstly, the support tool for deferred repayment of the principal and interest of the Inclusive Small and Micro Enterprise Loans should be converted into the Inclusive Small and Micro Loan Support Tool
.
From 2022 to the end of June 2023, the People's Bank of China will provide funds for inclusive small and micro enterprises and individual industrial and commercial households issued by local corporate banks at a rate of 1% of the increment of the balance, encouraging the increase of inclusive small and micro loans
.
Second, from 2022, inclusive small and micro credit loans will be included in the management of the re-loan support plan for supporting agriculture and small businesses.
The 400 billion yuan re-loan quota originally used to support inclusive small and micro credit loans can be used on a rolling basis, and can be re-loaned when necessary.
Further increase the refinancing amount
.
Eligible local corporate banks that issue inclusive small and micro credit loans may apply to the People's Bank of China for re-loan preferential financial support
.
The third is to build a national integrated financing and credit service platform network, oriented to serve the financing of small, medium and micro enterprises, and on the premise of complying with laws and regulations and ensuring information security, accelerate the promotion of registration of market entities, administrative penalties, judicial judgments and enforcement, as well as tax payment, Social security payment and other information sharing helps banks improve their ability to serve small, medium and micro enterprises
.
The fourth is to improve the regulations on performance assessment, due diligence and exemption of responsibility for financial institutions in granting small, medium and micro loans
.
Support financial institutions to issue special financial bonds for small and micro enterprises
.
Expand the scale of government financing guarantee business for small and micro enterprises and reduce guarantee costs
.

The meeting pointed out that manufacturing is an important foundation and support for economic development
.
China is a big manufacturing country, but there is still a big gap compared with the international advanced manufacturing level
.
It is necessary to increase support for the relief and development of the manufacturing industry, and solidly promote the manufacturing industry to move from the low-end to the high-end
.
First, the implementation of tax and fee reduction policies should be tilted towards the manufacturing industry, and policies such as additional deductions for R&D expenses and VAT refunds should be strengthened to support scientific and technological innovation of enterprises and the transformation and upgrading of traditional industries
.
Expand the scale of medium and long-term loans and credit loans for the manufacturing industry
.
The second is to deepen the reform of "delegating power, delegating power, delegating power, delegating power and improving services" in the manufacturing sector, implementing the list management of business-related business licenses, and stimulating the vitality of manufacturing enterprises
.
The third is to develop advanced manufacturing and accelerate the digital transformation of manufacturing
.
Encourage enterprises to take the lead in forming innovation consortia and accelerate the promotion of key core technologies
.
Promote the deep integration of advanced manufacturing and modern service industries
.
The fourth is to encourage large enterprises to drive more small and medium-sized enterprises to integrate into the supply chain innovation chain, and support the growth of more "specialized, special and innovative" and "little giant" enterprises
.
Fifth, deepen and expand international cooperation, and support foreign-funded enterprises to increase investment in mid-to-high-end manufacturing and R&D centers
.
Maintain the stability of the industrial chain and supply chain
.

The meeting also considered other matters
.