I. Preventing and controlling the risk of high financial leverage

(I) Preventing the risk of financial products. Organize and carry out financial product leverage risk investigation to ensure that financial product risk indicators meet regulatory requirements. Strengthen the supervision of banks' wealth management funds docking asset management products, standardize the investment direction of funds, limits and trading objects, and strictly control high-interest financing operations through mezzanine investment, "shares in the name of real debt," "drawer agreements," repurchase agreements and other ways. Standardize the bill business and strictly prevent the arbitrage and misappropriation of bill funds. Strengthen the risk prevention and control of various types of stock market leverage financing, and ensure the compliance of leverage ratio of securities and futures asset management business. Highly concerned about the risk of insurance companies' investment products such as universal life insurance. (Leaders: Chongqing Banking Supervision Department of the People's Bank of China, Chongqing Banking Regulatory Bureau, Chongqing Securities Regulatory Bureau, Chongqing Insurance Regulatory Bureau)

(2) Strengthening risk prevention in the banking industry. To enhance the ability of banking financial institutions to control credit risk, liquidity risk, operational risk, etc., and to strengthen the risk prevention of local government debt, real estate industry and other key areas and industries, to ensure that the bank's non-performing loan rate stabilized in a reasonable range. Explore the establishment of a financial innovation filing management and ledger monitoring system, increase the implementation of systems such as unified credit-granting and list management, strengthen credit management at source, prevent multiple loans and excessive credit-granting, and enhance dynamic risk management. Strengthen the process of behavioral supervision, comprehensively promote the audio-visual recording of wealth management products and products sold on behalf of the construction of special areas in the outlets, and seriously investigate and deal with the sales of "flyers" and participation in illegal fund-raising and other acts of employees. (Leader: Chongqing Banking Regulatory Bureau)

(c) Strengthening risk prevention in the securities market. Supervise securities fund futures operators to strengthen investor suitability management, improve customer classification system and dynamic assessment mechanism. Enhance information disclosure and standardize the operation of listed companies and companies listed on the National Small and Medium-sized Enterprise Stock Transfer System. Supervising private equity fund managers to abide by the contract in good faith and operate in compliance with the law, and severely punishing illegal behaviors such as commitment to capital preservation and guaranteed returns, and illegal fund-raising. Highly concerned about the possible payment risks of corporate bonds, inter-bank market financing instruments, corporate bonds and other products. (Lead unit: Chongqing Securities Regulatory Bureau; cooperating unit: Municipal Development and Reform Commission, the People's Bank of Chongqing Management Department)

(d) Strengthen the insurance industry risk prevention. Continuing to grasp the insurance institutions full payment and abnormal surrender risk prevention, to prevent and resolve the risk of insurance fraud and other cases. Promote the construction of insurance anti-fraud centers and improve the system of screening fraud leads and the construction of information platforms. Closely monitor the risks that may be brought about by the integration of the Internet and other new technologies with insurance, crack down on misleading sales, illegal operation of Internet insurance business and other behaviors, and effectively protect the legitimate rights and interests of consumers. (Lead unit: Chongqing Insurance Regulatory Bureau)

(e) Establishing a monitoring and early warning mechanism for high-leverage risks. In accordance with the principle of "transparency, isolation and control", the focus is on the cross-industry and cross-market risks of banks, securities, trusts and Internet financial institutions. It will strengthen the prevention and control of cross-border high-leverage financial business risks, and improve the mechanisms for risk monitoring, assessment, early warning, information*** sharing, and reporting of major risk events, so as to strictly prevent hiding, transferring and magnifying risks. It will study and formulate emergency measures for high-leverage risks and promote the construction of a comprehensive statistical system for the financial industry. (Leader: Chongqing Department of Management of the People's Bank of China, Chongqing Banking Regulatory Bureau; cooperating units: Municipal Finance Office, Chongqing Securities Regulatory Bureau, Chongqing Insurance Regulatory Bureau)

Two, preventing and controlling the risk of local financial

(a) to prevent the risk of the factor market. Strictly elemental market institutions and business approval, strict implementation of the "five disallowed", that is, not allowed to carry out futures trading and other highly leveraged business, not allowed to high-interest solicitation, not allowed to no fixed object of indiscriminate fund-raising, not allowed to irregularly establish a "pool of funds", not allowed to open a network lending intermediary No lending intermediary companies or businesses are allowed. Close high-risk non-primary businesses and carry out risk investigation of business development agencies. Strengthen the management of qualified investors, enhance the management of investor qualifications and review the legitimacy of the source of funds, strengthen the leverage calculation and risk assessment of the whole process of capital operation, effectively implement the audio-visual system for product sales, and strengthen investor awareness of risks and risk warnings. Strengthen the monitoring of trading margins, limit excessive speculation, and encourage commodity contract trading venues to expand the proportion of spot settlement. (Lead unit: Municipal Finance Office; cooperating unit: Municipal State-owned Assets Supervision and Administration Commission, Municipal Industry and Commerce Bureau)

(2) to prevent the risk of new financial institutions. Strengthen the on-site inspection and off-site supervision of small loans and guarantee institutions, promote the industry to reduce the quantity and increase the quality, and improve the level of risk provisioning coverage. In order to revitalize the collateral assets of small loan companies, prevent and resolve liquidity risks, and guard the "three red lines", i.e., no illegal fund-raising and absorption of public deposits, no issuance of loans with interest rates in violation of the relevant provisions of the law, and no use of violence, intimidation and other means to illegally collect loans. Strengthening the regulation of Internet microfinance companies. Take advantage of the opportunity of the valid expiration of guarantee institutions' operating licenses for the renewal of certificates to promote the exit of institutions, promote the integration and restructuring of governmental guarantee companies, and accelerate market clearance. Organize and implement risk investigation of the financial leasing, pawning and factoring industries. Strengthen the source management and dynamic monitoring of non-financial enterprises such as investment consulting companies declared to be engaged in financial activities. (Lead unit: Municipal Finance Office; cooperating unit: Municipal Commerce Commission, Municipal Foreign Trade and Economic Cooperation Commission, Municipal Industry and Commerce Bureau)

(c) Preventing the risk of Internet finance. Comprehensively carry out special rectification of Internet financial risks, adhere to the principle of "combating illegal, protecting the legal, active and steady, orderly dissolution, clear division of labor, strengthen collaboration, combination of near and far, rectifying and reforming at the same time", through the mapping of the investigation, screening and classification, cleanup and rectification, and to effectively prevent and dissolve the risk of the Internet financial sector. Ensure the implementation of the "ten prohibitions" negative list management policy for online lending information intermediaries. For risk events, supervise the implementation of the main responsibility of the institutions involved, and realize effective risk mitigation and resolution through the transfer of litigation rights, claims and equity. Standardize and clean up the Internet business of various new financial institutions. (Lead unit: Municipal Finance Office; cooperating units: the city Internet financial risk special rectification work leading group members)

(d) resolutely curb the momentum of the spread of illegal fund-raising. Implementation of the State Council on further improving the prevention and disposal of illegal fund-raising opinions, improve the fight against illegal work normalization, information technology, socialization level. It has strengthened grass-roots grid management, urged all districts and counties (autonomous counties) to fully open complaint and reporting platforms, implemented a reporting incentive system, constructed a risk warning platform system, and intensified crowd control efforts. It has promoted the establishment of a system of listing and supervising major cases, intensified efforts to clear up the backlog of cases, and increased the rate of case closure. Strengthening publicity and education, and raising the public's awareness of consciously preventing and resisting illegal fund-raising. Implement the local responsibility for stability maintenance, formulate the management system for letters and visits on illegal fund-raising, and improve the system of regular notification on the progress of cases. (Leader: Municipal Finance Office; cooperating units: all members of the Municipal Leading Group for Combating Illegal Financial Activities, the people's governments of all districts, counties and autonomous counties)

Three, the proper resolution of non-performing financial assets

(a) Strengthening of the risk of coordinated disposal. Supervise banks, guarantees, small loans and other institutions to strengthen communication and coordination, and improve the risk-sharing mechanism of silver and guarantee synergy. For credit risk defaults with large debts and more than three creditor banks or more than five creditor microcredit companies, as well as major credit risk defaults involving creditor banks, microcredit companies and other financial institutions at the same time, a creditors' committee will be set up to collectively study and determine the measures for increasing, stabilizing, decreasing and restructuring the disposal of loans. For non-performing loans that have already been formed, increase the write-off efforts to achieve the "should be written off as much as possible"; for the existence of potential risks in the loan, we should intervene in advance to revitalize the assets and improve the quality of the loan. Support financial institutions to form various types of enterprise credit risk mitigation smoothing mechanism for the de-capacity and de-inventory services. Properly deal with all kinds of trust products, asset management products payment risk, improve the emergency response mechanism for risky events. (Leader: Municipal Finance Office, Chongqing Banking Regulatory Bureau)

(2) Improve the efficiency of legal disposal of credit default cases. Promote the acceleration of trial, judgment and execution of litigation cases. Explore the introduction of notarization, arbitration and other mechanisms in credit business to improve the efficiency of legal settlement. Promoting special procedures for realizing security rights and improving the efficiency of disposing of collateral and non-performing assets. Strengthen the fight against fraudulent loans and debt evasion. (Lead unit: Municipal Finance Office, Chongqing Banking Supervision Bureau; cooperating unit: relevant member units of the Municipal Leading Group for Combating Illegal Financial Activities)

(c) Expanding disposal channels for non-performing assets. Support the state-owned four major financial asset management companies and the city's private asset management companies to carry out business cooperation. Promote municipal state-owned asset management companies to carry out non-performing credit assets acquisition, trusteeship, transfer, disposal and other businesses. Actively explore the pilot project of securitization of non-performing loan assets and transfer of non-performing asset income right, and expand new channels and methods such as batch disposal, agent disposal and entrusted disposal. (Lead unit: Municipal State-owned Assets Supervision and Administration Commission, Municipal Finance Office, Chongqing Banking Supervision Department of the People's Bank of China, Chongqing Banking Supervision Bureau)

Four, reduce the financial leverage of the enterprise

(a) support for enterprises to replace high-interest debt. To find out the bottom of high-interest debt, seize the "debt-to-stock" and other policy opportunities, multi-channel support for enterprises to reduce the high cost of financing. For enterprises in line with national industrial policy, market, orders, and benefits of non-bank unreasonable high-interest debt, in accordance with the principle of marketization, through the construction of risk compensation and credit enhancement and other supporting mechanisms, to guide banks, asset management companies and other institutions to assist enterprises in debt replacement. Actively do a good job of debt replacement statistics and analysis. (Lead unit: Municipal Finance Office; cooperating units: Municipal Development and Reform Commission, Municipal Finance Bureau, Municipal State-owned Assets Supervision and Administration Commission, Municipal Small and Medium-sized Enterprises Bureau, Chongqing Department of Management of the People's Bank of China, Chongqing Banking Supervisory Bureau)

(b) Improve the market-based mechanism for replenishing enterprise capital. Vigorously promote the listing and financing of state-owned and private enterprises, and strengthen the cultivation of resources for enterprises to be listed. Do a good job of stock market reform docking and project reserves, make good use of Singapore, Hong Kong and other capital markets, and expand overseas direct financing channels. Continuously expand the scale of financing in the interbank market and exchange market, and increase the promotion and application of innovative products that can be credited to owners' equity, such as perpetual notes and directed convertible notes. Promote Chongqing Stock Transfer Center Corporation (OTC) to strive for the pilot qualification of New Third Board listing recommendation and realize interconnection with the national market as soon as possible. Give full play to the role of industry-guided equity investment funds and strategic emerging industry equity investment funds, and develop key industry and county-guided funds. Actively explore the development of investment and loan linkage, stock and debt combination and other business pilots. (Lead unit: Municipal Finance Office; cooperating units: Municipal Finance Bureau, Municipal State-owned Assets Supervision and Administration Commission, Chongqing Banking Department of the People's Bank of China, Chongqing Securities Regulatory Bureau)

(c) Strengthening supervision and guidance to reduce the cost of enterprise financing. Coordinated use of monetary policy tools, regulatory policy and fiscal policy to guide changes in the financial institutions business model, business behavior, capital allocation and revenue cost measurement. Improve the self-regulatory mechanism for interest rate pricing in the Chongqing market; urge financial institutions to clean up unnecessary funding "channels" and "chains", standardize the management of service charges and sales practices; and put in place a risk-sharing compensation mechanism for the transfer of emergency revolving funds, financing centers for small loan companies, and re-guarantee systems. Put risk-sharing and compensation mechanisms such as the financing center for small loan companies and the re-guarantee system in place. Regulate the behavior of intermediary fees such as appraisal, registration, audit and insurance. Reform the profitability assessment of governmental financial guarantee institutions and re-guarantee institutions. (Leaders: Municipal Finance Bureau, Municipal State-owned Assets Supervision and Administration Commission, Municipal Finance Office, Municipal Small and Medium-sized Enterprises Bureau, Chongqing Banking Supervision and Administration Department of the People's Bank of China, Chongqing Banking Supervisory Bureau)

(d) Give full play to the function of the factor market platform to reduce costs. To further strengthen the elements of the market to reduce transaction costs, price discovery, optimize resource allocation, regulate the market order and achieve financial settlement of the five core functions, accelerate the construction of a set of trading, logistics, settlement and information of the four major centers in one of the integrated service system. Improve the information integration function of the trading platform of the factor market, help the trading parties to solve the problem of information asymmetry, simplify the trading procedures and reduce the transaction costs. Strengthening factor market warehousing, logistics, quality monitoring and other services to reduce settlement costs. Strengthen the settlement function of the elements market, provide convenient settlement services for both parties to the transaction, and support the elements market to reduce transaction fees. (Lead unit: Municipal Finance Office; Cooperating unit: Municipal State-owned Assets Supervision and Administration Commission)

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