On February 13, with the consent of the provincial people's government, Guangdong Provincial Local Financial Supervision Administration, Provincial Department of Industry and Information Technology, Guangzhou Branch of China People's Bank, Guangdong Banking Insurance Regulatory Bureau and Guangdong Securities Regulatory Bureau jointly issued Opinions on Strengthening Financial Services for SMEs to Support Epidemic Prevention and Control and Promote Stable Economic Development. This is the first provincial financial special document to support small and medium-sized enterprises during the epidemic.

According to the new media of Viewpoint Real Estate, the Opinions put forward 18 financial support policies for small and medium-sized enterprises. Among them, in order to actively perform the service functions of local financial enterprises, the Opinions introduced 8 measures to serve local financial enterprises.

Specifically, it includes reducing the interest rates of small loans and small re-loans, moderately relaxing the financing leverage of excellent small loan companies, exempting the re-guarantee fee, reducing the government guarantee fee, reducing the rental interest of financial leasing, reducing the service fee of regional equity market, giving full play to the role of commercial factoring companies, and reducing the renewal rate of pawn shops.

On the basis of the financial policies promulgated by the central government, the Opinions have promulgated a number of policies pioneered by the whole country, which have improved the service functions of financial enterprises and can be summarized as "three reductions, three exemptions and one relaxation".

"Three reductions" means that the interest rates of small loans and small re-loans are lowered by 5%- 10%, the maximum policy guarantee fee is lowered to 1% of the total loans, and the renewal premium rate is lowered by1‰-5 ‰; "Three exemptions" means no re-guarantee fee, no interest and penalty interest on financial leasing for more than 6 months, and no service fee for regional equity market.

It is worth mentioning that "one relaxation" refers to relaxing the financing leverage ratio. For microfinance companies with excellent regulatory indicators and active participation in epidemic prevention and control, their financing balance can be relaxed to no more than 5 times of their net assets, of which non-standardized financing leverage can be relaxed to 2 times, and the balance of funds integrated into standardized financing tools can be relaxed to no more than 3 times of their net assets. In addition, there are other benefits, such as extension or postponement 1-3 months, penalty-free interest 1-3 months.