National Convention: Decide To Focus On Enhancing The Capability Of Small And Medium Enterprises In Financial Services

Li Keqiang chaired the executive session of the State Council.

Deciding to focus on enhancing the capability of small and medium enterprises in financial services, allowing local government special debt to support small and medium-sized banks' supplementary capital.

Safeguard the legitimate rights and interests of SMEs through the payment of small and medium enterprises payment Ordinance (Draft).

Deployment to further promote the deepening of reform and opening up of the national hi tech Industrial Development Zone, and promote the development of high quality.

Li Keqiang, premier of the State Council, chaired the executive meeting of the State Council on July 1st, decided to focus on strengthening the capability of small and medium enterprises in financial services, allowing local government special debt to support small and medium-sized banks' supplementary capital, and safeguarding their legitimate rights and interests through the "Regulations on the payment of small and medium enterprises (bills)", and further promoting the further reform of the national hi-tech industrial development zones. Open wider to the outside world and promote high quality development.

The meeting pointed out that, in accordance with the deployment of the CPC Central Committee and the State Council to do a good job of "six stability" and "six guarantees", especially for the survival and development of small and medium sized enterprises and private enterprises, we must increase financial support and give play to the indispensable role of small and medium-sized banks. The meeting decided to arrange a certain quota in the new special local government debt quota this year, allowing local governments to explore new ways to supplement capital of small and medium-sized banks by way of subscription convertible bonds according to law. First, we should give priority to supporting small and medium-sized banks with supplementary market capitalization to enhance their services for small and medium enterprises and support employment. Two, we need to support the supplementary capital to promote reform and change the mechanism. We should improve the governance of small and medium-sized banks and improve the internal control mechanism as an important condition to support supplementary capital. The three is to compacted the responsibility of local governments, the responsibility of banks and shareholders, and the responsibility of financial regulatory authorities. Under the premise of overall capital verification and risk investigation and serious accountability according to the law, we should steadily promote the replenish capital, and the local authorities should fully tap the potential of other sources to give support. Four is to strengthen supervision and supervision of the whole process of audit. We should rationally replenish capital for special debts, establish a market exit mechanism in due time, and strictly guard against moral risks.

The meeting pointed out that at present, to stabilize the basic economic market, efforts should be made to help SMEs overcome the difficulties. It is imminent to introduce laws and regulations to protect the payment of small and medium-sized enterprises and safeguard their legitimate rights and interests. The conference adopted the regulations on the payment of small and medium enterprises' payment (Draft), stipulates the contracts, funds and payment methods for the organs, public institutions and large enterprises and small and medium-sized enterprises, stipulates the time limit for payment, and specifies the requirements for inspection and acceptance, and stipulates that no alteration or waiting for acceptance, final accounts audit, etc. shall be refused or delayed payment, and the payment information shall be established. The disclosure system requires organs, institutions and large enterprises to publish or publicized information on the amount and amount of contracts that are not yet paid for small and medium-sized enterprises within the prescribed time. The meeting requires that organs and institutions at all levels should take the lead in implementing laws and regulations and guarantee payment models. State owned enterprises and large scale platform enterprises must strictly enforce the regulations. The typical cases of arrears of money for small and medium-sized enterprises should be publicly exposed. The general office of the State Council and relevant departments should strengthen supervision to ensure the implementation of the regulations.

The meeting pointed out that the national high tech Zone is an important carrier to promote the development of high quality. It plays an important role in the demonstration and guidance of greater efforts to reform and opening up, and is also conducive to promoting "double innovation" and the employment of university graduates. First, we need to replicate the pilot reform policies in the national hi tech Zone, such as FTA, national independent innovation demonstration zones, and so on. We should relax the regulations on overseas visas and residence permits for many times. Two, we should increase the opening up of the national high-tech zones, encourage cooperation with foreign parks in various forms, and better integrate into the international industrial chain and supply chain. Three, commercial banks should be encouraged to set up science and technology sub branches in national hi tech zones, support intellectual property pledge financing, and support eligible listed entities in the development and construction of national hi tech development zones.