Summary of national and regional supply chain financial policies
Release time: 2019-12-26
In recent years, supply chain finance has been highly valued by the state. It is an important breakthrough for China's financing structure reform, capital services to the real economy, and inclusive financial security. The state and local governments have successively introduced various policies and guidance on supply chain finance. The supply chain financial policies from 2017 to November 2019 have been sorted out and listed:
I. National Supply Chain Financial Policy
In March 2017, the People's Bank of China, the Ministry of Industry and Information Technology, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission jointly issued the "Guiding Opinions on Financial Support for the Construction of a Powerful Manufacturing Country" (Yinfa [2017] No. 58), which states that "regulate the development of manufacturing enterprise group finance The company, steadily promoted the enterprise group finance company to carry out the pilot work of extending industrial chain financial services. Accelerate the development of financial leasing business in the manufacturing sector. Vigorously develop industrial chain financial products and services to effectively meet the financing needs of upstream and downstream enterprises in the industrial chain. "
May 2017 People's Bank of China, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Commerce, the SASAC, the China Banking Regulatory Commission, and the Foreign Exchange Bureau, the "Small and Micro Enterprises Receivables Financing Special Action Work Plan (2017-2019)" ( Yinfa [2017] No. 104) "Mobilize supply chain core enterprises such as large state-owned enterprises and large private enterprises to support small and micro enterprise suppliers to carry out online accounts receivable financing business."
In October 2017, the General Office of the State Council issued the "Guiding Opinions on Promoting the Innovation and Application of Supply Chain" ([2017] No. 84), proposing that "By 2020, a number of new technologies and new models for the development of supply chains suitable for China's national conditions will be formed. A smart supply chain system covering China's key industries has basically been formed. About 100 leading global supply chain companies have been cultivated, and the supply chain competitiveness of key industries has entered the forefront of the world. China has become an important center for global supply chain innovation and application. "
In December 2017, the China Securities Regulatory Commission issued the “Guidelines for Confirming the Listing Conditions of Enterprise Receivables Asset-Backed Securities”, and the Shanghai, Shenzhen Stock Exchange and the Quotation System respectively issued the Guidelines for Confirming the Listing Conditions of Enterprise Receivables Asset-backed Securities. Regulate the securitization of accounts receivable assets.
In February 2018, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council "Several Opinions on Strengthening Private Enterprises in Financial Services" (Zhongbanfa No. 2019 ﹝ 6) stated that "commercial banks must rely on the core enterprise credit of the industrial chain, the true transaction background and Closed loop of logistics, information flow, and capital flow, providing order financing and account receivable financing for upstream and downstream enterprises without mortgage guarantees. "
In April 2018, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council's "Guiding Opinions on Promoting the Healthy Development of Small and Medium-Sized Enterprises" encouraged enterprises to rely on accounts receivable, supply chain finance, franchise and other channels for financing.
In April 2018, the Ministry of Commerce, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Agriculture and Rural Affairs, the People's Bank of China, the State Administration of Market Supervision, the China Banking Insurance Regulatory Commission and China Logistics and Procurement jointly issued the Notice on the Application of Pilots (Shangjianhan [2018] No. 142) proposes to "play the role of financial infrastructure such as the Shanghai Stock Exchange, China Requisition Accounts Receivables Financing Service Platform, and the Unified Registration and Publicity System for Movable Property Financing to effectively prevent risks. On the basis of this, actively and steadily carry out supply chain finance business. "
In May 2018, the Ministry of Finance and the Ministry of Commerce of the "Notice on the Construction of a Modern Supply Chain System in the Circulation Field in 2018" (Caibanjian [2018] No. 101) proposed that "the role of central financial funds to guide social capital and support the supply chain Weak links and key areas in the system. "
In September 2018, in the Ministry of Commerce's "Publication of Evaluation Results of National Supply Chain Innovation and Application Pilot Cities and Enterprises", 55 cities and 269 companies were selected as pilot cities and enterprises.
In February 2019, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued "Several Opinions on Strengthening Private Enterprises in Financial Services" (Zhongbanfa No. 2019 ﹞ 6), which states that "commercial banks must rely on the core corporate credit of the industrial chain and the true transaction background. And logistics, information flow, capital flow closed loop, to provide upstream and downstream enterprises without the need for mortgage guarantees of order financing, accounts receivable and accounts payable financing. "
In April 2019, the Guiding Opinions of the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council on Promoting the Healthy Development of Small and Medium-sized Enterprises specifically encourage enterprises to rely on channels such as accounts receivable, supply chain finance, and franchise rights for financing.
On July 9, 2019, the CBRC issued the Guiding Opinions of the General Office of the China Banking and Insurance Regulatory Commission on Promoting the Supply Chain Financial Services Real Economy to the major banks and insurance companies (hereinafter referred to as the "Opinions"). (Bank Insurance Regulatory Office issued [2019] No. 155) proposes that bank insurance institutions should adhere to four basic principles when conducting supply chain financial business: adhere to precise financial services, be guided by market demand, and focus on supporting national industrial policy directions, The main business is focused on the real economy, advanced technology, and market competitiveness of industrial chain companies; adhere to the real trading background, and prevent false transactions, fictitious financing, and illegal profits; adhere to the availability of transaction information to ensure direct access to first-hand Original transaction information and data; adhere to comprehensive management and control of risks, we must pay attention to the changes in risk of core companies, and also detect the risks of upstream and downstream chain companies.
Second, the supply chain financial policy by region:
Shanghai
In August 2018, the General Office of the Shanghai Municipal People's Government issued the "Implementation Opinions on Proactively Promoting the Innovation and Application of Supply Chain in this City" (Hufu Office Development [2018] No. 26), which not only proposed to cultivate 100 leading supply chains nationwide Innovation and application demonstration enterprises, which cultivate more than 10 leading global supply chain companies, and also clearly "encourage commercial banks, supply chain core enterprises, etc. to establish supply chain financial service platforms, and provide efficient and convenient financing for small and medium-sized enterprises in the upstream and downstream of the supply chain Channels. Encourage the supply chain core enterprises and financial institutions to connect with the China Receivables Receivables Financing Service Platform and develop supply chain financial models such as online accounts receivables financing. The system will promote inclusive financial services and establish small and medium-sized enterprises and small and medium-sized enterprises. Micro-enterprise credit risk compensation and reward mechanism, the establishment of Shanghai small and medium-sized micro-enterprises policy financing guarantee fund, exploration of multi-form investment and loan linkage financing service model innovation, establishment of performance loan guarantee insurance mechanism. "And the relevant units were clearly divided. .
On May 8, 2019, the Shanghai Municipal Commission of Commerce, the Shanghai Development and Reform Commission and other departments issued "Several Opinions on Encouraging the Establishment of Private Enterprise Headquarters in Shanghai" (Shanghai Commercial Regulation (2019) No. 1) "to support private enterprise headquarters in developing supply chain financial countermeasures. The certified private enterprise headquarters can join the China Requisition Accounts Receivables Financing Service Platform. "
Jiangsu Province
In May 2018, the General Office of the Jiangsu Provincial Government's "Implementation Opinions on Promoting Supply Chain Innovation and Application and Cultivating New Motive Forces for Economic Growth" (Su Zheng Ban Fa [2018] No. 35) supported eligible supply chain core enterprises and large supply chains Service companies apply to establish or cooperate in establishing supply chain related companies. Vigorously develop commercial factoring, and support upstream and downstream affiliated companies in the supply chain to carry out asset securitization business. Support the provincial government investment funds to increase investment in the supply chain, and encourage supply chain companies to use equity investment funds and other related financial instruments to integrate supply chain resources in a market-oriented manner. Encourage supply chain companies to go public, and support supply chain companies positioned to conduct global business to go overseas. Encourage insurance institutions to strengthen cooperation with supply chain enterprises to serve the development of supply chain enterprises.
Guangdong Province
In August 2018, the Guangdong Provincial Department of Commerce, the Development and Reform Commission, the Department of Transport, the Department of Agriculture, and the Finance Office jointly formulated the "Guangdong Province's Implementation Opinions on Actively Promoting the Innovation and Application of Supply Chain" (Guangzhou Jianjian [2018] No. 11 ) Proposed to explore and deepen the "bank-tax interaction" supply chain enterprise services, strengthen the "government-bank-enterprise" docking, promote the financing business under government procurement, and promote financial institutions and other fund providers to optimize the receivables financing business process. Promote large-scale state-owned enterprises, core leading enterprises, commercial factoring companies, asset management companies, and government procurement units in the province to join the PBC Credit Center Account Receivables Financing Service Platform, guide the business development of financial institutions, and develop online accounts receivable Financing business, providing financing services for large enterprises, small and medium-sized enterprises of suppliers.
In January 2018, the Shenzhen Finance Office's "Opinions on Promoting the Development of Shenzhen's Supply Chain Finance" guided financial institutions to establish special support systems for supply chain financial products, risk control, and assessment, and to develop suitable financing characteristics for manufacturing supply chain financing. Information system. Encourage banking financial institutions to initiate the establishment of supply chain financial franchise institutions, business units and characteristic branches. Support commercial factoring companies, financial leasing companies, small loan companies, financing guarantee companies and other institutions to play a differentiated role in the field of supply chain finance. Support the establishment of a mutual guarantee fund for the commercial factoring industry in a market-oriented manner and initiate the establishment of a re-factoring company.
Hubei Province
On January 25, 2019, Hubei Province issued the "Implementation Opinions on Promoting Supply Chain Innovation and Application to Promote High-Quality Economic Development" (Ezhengbanfa [2019] No. 10) "with the focus on improving the quality and efficiency of development and promoting Supply-side structural reform is the main line, with the support of informationization, standardization, credit system construction and personnel training, to efficiently integrate various resources and elements, to create a digital supply chain, networked sharing, and intelligent collaboration in a smart supply chain system. The high-quality development of Hubei's economy provides a strong impetus. We will strive to cultivate a group of backbone supply chain enterprises including supply chain core enterprises, supply chain service enterprises and key suppliers within three years. "
Liaoning Province
In February 2018, the General Office of the Liaoning Provincial People's Government's "Implementation Opinions on Actively Promoting the Innovation and Application of Supply Chain" (Liaozhengbanfa [2018] No. 2) advocated the establishment of an industrial alliance of upstream and downstream enterprises in the supply chain. Relying on large core enterprises to drive the coordinated development of upstream and downstream enterprises in the supply chain, promote collaborative design, collaborative procurement, collaborative manufacturing, and coordinated logistics, and promote the specialized division of labor and cooperation between large and small enterprises to achieve rapid industrial upstream and downstream response to customer needs. Local credit information sharing platforms, financial institutions, and supply chain core enterprises should strengthen credit information exchange and sharing, and promote the sharing of credit information from the provincial data exchange platform to the national credit information platform. Encourage commercial banks, supply chain core companies and other innovative financial service models to develop standardized and personalized supply chain financing products.
Heilongjiang Province
In March 2018, the General Office of the Heilongjiang Provincial People's Government's "Implementation Opinions on Actively Promoting the Innovation and Application of Supply Chain Finance" (Heizhengbanjian [2018] No. 14) encouraged commercial banks and supply chain core enterprises to establish supply chain financial services Platform to provide efficient and convenient financing channels for small and medium-sized enterprises in the upstream and downstream of the supply chain.
Jilin Province
In September 2018, the General Office of the People's Government of Jilin Province, "Implementation Opinions on Promoting the Innovation and Application of Supply Chain" (Ji Zhengfa [2018] No. 37) encouraged financial institutions to use new technologies such as big data, blockchain and artificial intelligence to strengthen Monitor the risk of supply chain finance, improve the level of risk management, and ensure that funds flow to the real economy. For qualified core enterprises and large-scale supply chain service enterprises, they can apply to establish or cooperate to establish corporate finance companies, financial leasing companies, commercial factoring companies, small loan companies, etc. according to law.
Chongqing
In February 2018, the "Notice on Implementing and Implementing the Division of Labor and Supply Chain Innovation and Application Guiding Opinions" (Yufubanfa [2018] No. 20) promoted the open sharing of information among credit information sharing platforms, commercial banks, and supply chain core enterprises . Promote financial institutions and core companies in the supply chain to establish a risk control system that combines debt ratings and subject ratings, strengthen the analysis and application of big data in the supply chain, and ensure that loan funds are based on real transactions. Encourage core companies in the supply chain, financial institutions to connect with the accounts receivables financing service platform constructed by the People's Bank Credit Reporting Center, and develop supply chain financial models such as online accounts receivables financing.
