Wednesday, March 29, 2017

China's manufacturing industry will usher in a new opportunity for emerging opportunities

Recently, the China Central Bank, China Ministry of Industry and Information Technology, China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Commission and other five ministries jointly issued the "China on the financial support for the construction of power to build the guidance" (hereinafter referred to as "opinions"). "Opinions" mainly emphasizes the importance and continuous improvement of the financial support and services of "Made in China 2025", focusing on the difficulties of the development of manufacturing industry, and strive to strengthen financial support for technological innovation, transformation and upgrading of manufacturing industry.
It should be said that the "opinions" introduced to the financial industry to support the construction of the power industry to specify the direction, but also once again sounded the financial industry to support the revitalization of the manufacturing sector. Moreover, the "opinions" introduced not only the manufacturing industry to see new hope, enhance the development of confidence, but also inspired the manufacturing industry morale; at the same time for the economic downturn in the steady rise of China's economy to inject new momentum, further for our solid economy Development provides an inexhaustible motive force.
"Opinions" include high priority and continuous improvement of financial support and services, and actively develop a diversified financial organization system, innovation and development of credit management system and financial products system, vigorously develop multi-level capital market, play the role of the insurance market and other seven important elements. Each content has a strong realistic relevance, operability and effectiveness; with each content are formed between the organic internal links, covering the financial support to create all aspects of national strategy, fundamentally eliminate the financial services Manufacturing "blank" phenomenon occurred.
From the financial industry service approach and attitude, can urge financial institutions to change the old concept, fully aware of the manufacturing industry on China's economic development role; the same time, let the financial industry realize that China's manufacturing industry and advanced countries compared to manufacturing still exist Of the huge gap; in particular, to realize that the manufacturing sector is the core of the real economy; no manufacturing revival, revitalize the real economy is empty talk. And cause the backwardness of China's manufacturing industry, and the financial industry is not enough attention, there is a great relationship between the lack of support. Since then, the "Opinions" after the introduction of the financial industry will focus on strengthening the manufacturing industry science and technology innovation, transformation and upgrading of small and medium-sized manufacturing and financial industry financial support; focus on manufacturing pain and difficulties, adhere to differentiated, Optimize the direction and structure of financial support, focus on strengthening the manufacturing industry innovation and technological upgrading of medium and long-term financial support, and actively expand the technology-intensive and small and medium-sized manufacturing enterprises diversified financing channels to promote the restructuring of manufacturing, transformation and upgrading, Improve quality and become stronger and stronger. In addition, the financial institutions will focus on "China Manufacturing 2025" key tasks and "1 + X" planning system and other key content, improve and improve the level of financial services, and actively explore innovative, diversified financing services to support key common technology research and development and scientific and technological achievements Transformation of the application, vigorously develop the green financial business, promote the green development of manufacturing.
From the financial industry to build a diversified financial organization system, can urge financial institutions to give full play to the advantages of differentiated banking institutions, the formation of financial services synergies, a clear policy, state-owned large banks, local joint-stock commercial banks positioning, manufacturing "triple" To provide effective financial support, to provide comprehensive financial services, to continuously improve and enhance the quality of small and medium-sized manufacturing financial services efficiency; to promote the small and medium-sized manufacturing industry to set up specialization, specialized financial products and services, so that the financial industry covers the development of manufacturing Of the whole industry chain. At the same time, to improve the organizational structure of financial services, to establish a more suitable for the development of the financial needs of the manufacturing system, to enhance the level of financial services professional. Mainly in the manufacturing area to set up high-end technology financial franchise, in customer access, credit approval, risk appetite, performance assessment and other aspects of the implementation of differentiated management; around the manufacturing industry in a wide range of small micro-enterprises, private enterprises, Large-scale, large-scale, standardized financial services; support qualified manufacturing group set up enterprise group finance company, give full play to the financial company's "capital pool platform, capital settlement platform, capital monitoring platform, financing operation platform, financial service platform "And other functions, effectively improve the efficiency of enterprise groups within the operation of funds and fine management level, and promote the overall financing of the industry chain to reduce the cost of better support the Group's main business development. In addition, to support the manufacturing sector has plans to develop leasing financing business, through holding, equity, etc. initiated the establishment of financial leasing companies to make up for financing short board, to improve the support of major equipment manufacturing and international influence.
From the credit management system and financial products system, it can urge commercial banks and other financial institutions to focus on the manufacturing industry's new industrial chain and innovation chain, and actively improve the credit evaluation mechanism, innovation and financial products and services, mainly with the enterprise "three tables", "three And "non-financial information", the use of credit loans, intellectual property pledge loans, equity pledge loans, accounts receivable pledged loans and brand-based trademark pledge loans, etc., and actively meet the innovative manufacturing Industry and production services industry to encourage financial institutions to vigorously develop the industrial chain of financial products and services, relying on manufacturing industry chain core enterprises, and actively carry out warehouse receipts pledge loans, accounts receivable pledged loans, bills discount, factoring, International and domestic letters of credit and other forms of industrial chain financial business, effectively meet the financing needs of the upstream and downstream industries chain; to encourage the manufacturing industry core enterprises, financial institutions and central bank accounts receivable financing service platform docking, the development of the whole process, Efficient online accounts receivable financing model. In addition, it can promote the innovation of the financial linkage model of investment and loan, promote the rationalization of the financing structure of the enterprise and reduce the financing cost effectively. Set up the risk sharing and compensation between the bank and its investment function subsidiary, the government loan risk compensation fund, the financing guarantee company and the insurance company Mechanism to effectively reduce the bank credit risk; encourage the banking financial institutions and external investment companies, all kinds of funds to cooperate, and actively integrate their own capital, information and management advantages, explore a variety of investment and loan linkage business, promote the exchange of funds and enterprises to share , To achieve win-win cooperation. In addition, to promote the merger and reorganization of the manufacturing sector financing services, mergers and acquisitions enterprises to implement a comprehensive credit; support enterprises through mergers and acquisitions to achieve industry consolidation, to allow qualified manufacturing enterprises through the issuance of preferred shares, convertible bonds, mergers and acquisitions bonds Merger and reorganization of funds. In particular, the financial sector can enhance the awareness of risk prevention and control, through the joint credit, syndicated loans, etc., the formation of financing synergies, and effectively prevent long credit, excessive credit, to avoid herd, repeated construction of the formation of new excess capacity, and strengthen manufacturing Industry debt leverage constraints, reduce corporate leverage, so that the safe development of manufacturing.
From the reduction of manufacturing capital market access threshold and bond issuance conditions, can urge financial institutions to support qualified high quality, mature manufacturing market in the main board market financing, and promote key areas of manufacturing industry to do better and stronger, to speed up the promotion of high-tech manufacturing Enterprises, advanced manufacturing enterprises in the SME board, the GEM, the national SME share transfer system and regional equity trading market listing or listing financing, enrich the long-term capital strength; strong innovation ability, good growth of the manufacturing enterprises focus Support and support the manufacturing enterprises in overseas listing and financing to enhance the international competitiveness of Chinese manufacturing enterprises; to encourage manufacturing enterprises through the capital market mergers and acquisitions to achieve industry consolidation and layout adjustment and optimization to support the central and western regions to undertake industrial transfer. At the same time, it supports the direct financing instruments such as corporate bonds, corporate bonds, short-term financing bills, medium-term notes, perpetual notes and directional tools to broaden the financing channels, reduce the financing costs and adjust the debt structure; encourage the design and development of financial institutions to meet the advanced Manufacturing and strategic emerging industries characterized by innovative bond varieties; at the same time, to support the manufacturing sector asset securitization, encourage financial institutions will meet the national industrial policy, taking into account the profitability and orientation of the manufacturing sector credit assets as securitized base assets, Credit asset securitization products, in accordance with the law compliance, risk control under the premise of encouraging qualified banking financial institutions to carry out safe asset securitization pilot, take the initiative to resolve the excess capacity in the manufacturing sector credit risk.
In addition, it has also made clear the role of insurance market, can urge the insurance industry to develop enterprise property insurance, science and technology insurance, patent insurance, safety production liability insurance and other insurance business for the manufacturing industry to provide a wide range of risk protection, boost manufacturing transformation and upgrading; And through the claims, equity, fund, asset support plan and other forms, for the transformation and upgrading of manufacturing to provide a low-cost stable source of funds. At the same time, the financial institutions are required to further optimize and perfect the layout of overseas institutions according to the needs of enterprises "going out" to improve the financial service capability of the global enterprises and meet the real and reasonable purchase demand of the manufacturing enterprises in the process of "going out" Coordination agencies, the implementation of "white list" system, in the mechanism for improving the manufacturing financial services to provide a reliable guarantee. In addition, the local government is encouraged to strengthen the construction of the advanced manufacturing industry (including the cemented carbide and superhard materials industry) by setting up the industry guidance fund and the equity investment guidance fund according to the principles of government guidance, market operation and specialization management Investment efforts, leveraging all kinds of social capital to support the transformation and upgrading of manufacturing, manufacturing will be revitalized vitality.

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