Some people in the industry have called for the impact of the epidemic on the economic aggregate to be ignored. From the structural point of view, the negative impact on the service industry in the short term is expected to be greater. While increasing support for epidemic prevention and control, the financial industry should also do a good job in providing financial support for trapped enterprises and rationally adjust the due financing arrangements. To implement a more active fiscal policy, monetary policy should also be prepared in time according to the development of the epidemic and implemented in advance.
Rapid response to epidemic prevention and control
Financing needs
Although the financial market officially opened on February 3, financial measures to prevent and control the epidemic have been introduced one after another during the Spring Festival, especially banks and insurance institutions have stepped up their efforts. 654381October 26th, China Banking Regulatory Commission issued the Notice on Strengthening Financial Services of Banking and Insurance Industry to Prevent and Control Pneumonia Infection in novel coronavirus, in which differentiated preferential credit support was deployed to provide financial services to enterprises in distress, which is in the same strain as part of this notice.
"Financial support for epidemic prevention and control is mainly concentrated in two aspects. First, fully support the current epidemic prevention and control work, including ensuring the payment and settlement of special-purpose funds, opening up a green channel for the credit needs of enterprises involved in epidemic prevention and control, and speeding up insurance claims. On the other hand, we must cope with the impact of the real economy in a certain period in the future. " Ceng Gang, deputy director of the National Finance and Development Laboratory, told the Securities Times reporter.
The circular proposes that during the epidemic prevention and control period, the list system management should be implemented for key enterprises that produce, transport and sell medical protective clothing, medical masks, medical goggles, novel coronavirus test kits, negative pressure ambulances, disinfectors, 84 disinfectant, infrared thermometers and related drugs, and other important medical materials and important daily necessities. The central bank provides low-cost funds to financial institutions through special refinancing, and supports financial institutions to provide credit support at preferential interest rates to listed enterprises. The central government gives discount support to key enterprises for epidemic prevention and control.
The reporter learned that at present, all major banks have made arrangements in accordance with the relevant requirements of the regulatory authorities. For example, in response to the credit support required by enterprises and institutions involved in epidemic prevention and control, many banks have opened up green channels, simplified the approval process of credit funds, and appropriately granted preferential interest rates. The National Development Bank shall establish an emergency financing service mechanism for epidemic prevention and control, and designate daily dispatch. The central and local epidemic prevention and control leading group or headquarters and its member departments shall complete the emergency response within 24 hours; Other enterprises involved in epidemic prevention and control need to complete emergency response within 48 hours. Agricultural Bank, China Construction Bank and other operating loans to small and micro enterprises and individual industrial and commercial households in Hubei Province were lowered by 0.5 percentage points on the current basis.
According to Pan, deputy governor of the central bank, during the epidemic prevention and control period, the central bank will provide a total of 300 billion yuan of low-cost special refinancing funds to major banks in China and some local corporate banks in key provinces (cities, districts) such as Hubei, requiring banks that have obtained refinancing funds to provide credit support at preferential interest rates to important pharmaceutical and daily necessities manufacturers in the epidemic. On the morning of June 365438+1October 3/kloc-0, the central bank has called a meeting of relevant banks, requiring all commercial banks to actively strengthen the docking with relevant enterprises on the list, provide sufficient credit resources, and fully meet the reasonable financing needs of key enterprises.
Safeguard trapped enterprises
And personal financial needs.
In the special period of epidemic prevention and control, in addition to ensuring the financing needs of enterprises and institutions directly involved in epidemic prevention and control, the people's daily basic financial services and the financial needs of trapped enterprises and individuals also need to be guaranteed in time.
The notice stressed that it is necessary to ensure the smooth flow of basic financial services. If the payment and clearing operation is smooth, the central bank will liberalize the business quota of the micropayment system, extend the operation time of the large-value payment system and the central bank's centralized accounting data system, and support financial institutions to handle RMB deposits online. Open a special channel for epidemic prevention and control to ensure the timely disbursement of domestic and foreign relief and donation funds and the efficient and smooth flow of social funds. Encourage clearing institutions, banking financial institutions and non-bank payment institutions to implement preferential payment service fees for special merchants in specific fields or regions.
For trapped individuals, repayment arrangements are also expected to be adjusted accordingly. The "Notice" clarifies that financial institutions will appropriately tilt credit policies for people who are hospitalized or isolated due to new pneumonia infection, those who need to isolate observers due to epidemic prevention and control, those who participate in epidemic prevention and control, and those who temporarily lose their income sources due to the epidemic, and flexibly adjust personal credit repayment arrangements such as housing mortgages and credit cards, and reasonably postpone the repayment period. Personal business guarantee loans infected with new pneumonia can be extended for one year and continue to enjoy financial discount support.
Judging from the current policies and measures issued by regulatory authorities and bank insurance institutions, they mainly focus on financial support for epidemic prevention and control and ensuring social stability. However, with the deepening of epidemic prevention and control work, its impact on the macro-economy has gradually attracted attention. Some insiders have called for economic and financial policies to deal with the impact of the real economy in a certain period of time in the future.
"From the perspective of economic structure, the industry most affected by the epidemic is the tertiary industry, and the service industries such as consumption, tourism and entertainment are greatly affected in the short term. These are also areas where small and micro enterprises gather and employment is intensive. It is expected that the operation and personal employment of small and micro enterprises will face certain pressure in the future, and some small and micro enterprises will even suffer losses, resulting in tight cash flow. " Ceng Gang said that in order to deal with these problems, on the one hand, we should continue to increase loans to small and micro enterprises; On the other hand, for small and micro enterprises or individuals who already have loans, if the epidemic situation has an impact on their income sustainability, which leads to difficulties in repayment, banks should consider ways such as loan restructuring and optimizing repayment time, so as not to lend or suppress loans.
The Notice also clarifies that wholesale and retail, accommodation and catering, logistics and transportation, cultural tourism and other industries that are greatly affected by the epidemic, as well as enterprises with development prospects but temporarily affected by the epidemic, especially small and micro enterprises, are not allowed to blindly draw loans, cut off loans and press loans. Enterprises seriously affected by the epidemic situation may extend or renew their loans if it is difficult to repay them at maturity.