In the first quarter, Fujian’s new loans totaled 145.616 billion yuan, with a balanced and stable pace of credit lending – Original News – Southeast Net

A press conference on the financial operations of Fujian Province in the first quarter of 2024 was held.

Southeast Net reported on April 26 (our reporter Lin Xianchang’s article/picture) On the 26th, the Fujian Provincial Branch of the People’s Bank of China held a press conference on the financial operations of Fujian Province in the first quarter of 2024. The reporter learned from the meeting that since this year, China Focusing on the strategic plan of strengthening the province financially, the Fujian Provincial Branch of the People’s Bank of China and the Fujian Provincial Branch of the State Administration of Foreign Exchange have further implemented, deepened and expanded the “three struggles” action plan, adhered to serving the real economy, deepened high-level financial opening up, and helped Fujian’s economic performance continue to improve.

The province’s total deposits and loans have maintained steady growth, and financial support for the real economy has remained solid. At the end of March, the balance of local and foreign currency loans of financial institutions in the province was 8.38 trillion yuan, a year-on-year increase of 6.07%, which was 0.27 percentage points higher than the GDP growth rate in the same period. New loans in the first quarter were 145.616 billion yuan. The pace of credit disbursement was balanced and stable. The province’s deposit balance in local and foreign currencies was 8.50 trillion yuan, a year-on-year increase of 6.54%. New deposits in the first quarter were 401.927 billion yuan. The non-performing loan rate of enterprises in the province was 0.87%, 0.21 percentage points lower than the same period last year.

Lowering the existing first-home loan interest rate will save residents about 4.25 billion yuan in interest every year

Make good use of financial policies to activate development momentum and do a good job in the “five major articles” of finance. Deeply promote the “re-lending and rediscount +” multi-dimensional system, innovatively launch the “Green Ticket Pass” and “Technology Ticket Pass” businesses, and a separate rediscount quota of 10 billion yuan is specially used to support financial institutions in handling bill financing business for green and technological innovation enterprises, and optimize approval process and reduce financing costs. At the end of March, the province’s reloan and rediscount balance was 135.76 billion yuan, a year-on-year increase of 26.8%; the cumulative investment in the first quarter was 50.11 billion yuan, a year-on-year increase of 38.8%. The inclusive small and micro loan support tool was used to provide an incentive fund of 3.41 billion yuan, driving an increase in inclusive small and micro loans of 194.2 billion yuan. Use the policy of new mortgage supplementary loan quotas to promote development and policy banks to issue loans of 1.32 billion yuan to support the construction of the “three major projects”. Lowering the existing first-home mortgage interest rates will save residents approximately 4.25 billion yuan in interest every year. Support Fuzhou’s approved pilot city for the rental housing loan program. As of the end of March, relevant financial institutions had provided a total of 633 million yuan in loans, supporting the acquisition of 19 rental housing projects, involving nearly 2,000 units.

The balance of medium and long-term loans in the province’s manufacturing industry was 564.7 billion yuan, a year-on-year increase of 22.02%

Focus on manufacturing, technological innovation and digital economy, and support industrial transformation and upgrading. The “Work Opinions on Financial Support for the High-Quality Development of Manufacturing Industry in Fujian Province” was issued to promote the creation of Fujian-specific credit products with preferential interest rates in the fields of scientific and technological innovation, such as technology loans, technological transformation loans, and specialized new loans. At the end of March, the province’s manufacturing industry’s mid- and long-term loan balance was 564.7 billion yuan, a year-on-year increase of 22.02%; the loan balance of high-tech enterprises and technology-based small and medium-sized enterprises increased by 10.18% and 17.46% year-on-year respectively.

Focus on characteristic industries and green development, and continue to promote and improve green financial mechanisms and systems. Two new local corporate banks, including Quanzhou Bank and Fuzhou Rural Commercial Bank, have been included in the scope of carbon emission reduction support tools. As of the end of March, the province has issued a total of 29.573 billion yuan in carbon emission reduction loans. Improve the forest-related loan monitoring mechanism, support Nanping in exploring the “Forest Ecological Operation Center” model, and realize one-stop services such as forest rights assessment and storage, mortgage loans, transfer changes, etc., and have issued a total of 209 policy-guaranteed forest rights mortgage loans with an amount of 1 ．500 million yuan; promote Sanming to launch the country’s first “forestry biological asset bill”, quantify the forest resources of forest management entities, and achieve an effective connection between financial asset investment and forest resource financing. As of the end of March, the province’s green credit balance was 939.789 billion yuan, a year-on-year increase of 35.72%.

Focus on private small businesses and rural revitalization, and improve the level of inclusive financial services. Comprehensively promote the implementation of a series of financial policies and measures to support the development of the private economy. As of the end of March, the province’s private economy loan balance was 2.84 trillion yuan, a year-on-year increase of 9.84%; in the first quarter, the weighted average interest rate of inclusive small and micro loans was year-on-year. down 37 basis points. The special action of “deeply cultivating local specialties and stimulating Fujian students with loans” has achieved positive results. As of the end of March, the total loan balance of the province’s 68 special action projects was 379.874 billion yuan, a year-on-year increase of 55.171 billion yuan, an increase of 34.352 billion yuan from the beginning of the year; the weighted average interest rate was 4.22%, a year-on-year decrease of 25 basis points .

Focus on the characteristics of pension financial needs and increase investment in pension financing resources. The “Notice on Matters Concerning the Implementation of the Special Re-Lending Policy for Inclusive Elderly Care” was issued to guide financial institutions to implement the requirements of the special re-loan policy for inclusive elderly care, fully grasp the policy window period, make full use of re-loan policy tools, and increase support for the elderly care industry. and financial support for the silver economy. Promote ICBC, China Construction Bank and other institutions to improve personal pension products and services and open special outlets for pension finance; enhance the “online + offline” experience for the elderly through “special windows for the elderly”, special waiting areas for the elderly, simple operation interfaces of mobile banking, etc. “The degree of convenience of payment services.

Focus on the construction of digital financial ecosystem and empower the development of “Digital Fujian”. In-depth implementation of the “Fujian Provincial Fintech Development Action Plan (2023-2025)” will guide various financial institutions in the province to accelerate digital transformation. The major corporate banking institutions within the jurisdiction have formulated financial technology strategic plans to clarify future information technology construction goals and priorities. . Digital RMB pilot work has been carried out steadily and orderly. The scale of digital RMB transactions has exceeded 360 billion yuan. Common scenarios such as retail supermarkets, people’s livelihood payment, transportation, culture, tourism and medical care have been fully covered. There are many special scenarios such as finance and taxation, Taiwan, and smart contracts. It has blossomed and achieved remarkable results in “expansion, increment and quality improvement”.

Further optimize payment services to improve payment convenience

Continue to optimize payment services and make payment services more adaptable, international and inclusive. The Fujian Provincial Branch of the People’s Bank of China aims to make payments suitable for the elderly, internationalized and inclusive, and focuses on improving payment convenience for the elderly, overseas visitors to Fujian and other groups, and has established cooperation with 20 departments including transportation, commerce, culture and tourism. The collaborative working mechanism promotes the Provincial Government General Office to issue the “Implementation Plan for Further Optimizing Payment Services and Improving Payment Convenience in Fujian Province”, focusing on people’s livelihood areas such as “food, housing, transportation, travel, shopping, entertainment, medicine, and education” throughout the province. Create 18 benchmark scenarios, accelerate the advancement of key tasks such as payment age-appropriate transformation, construction of foreign card acceptance environment, and optimization of cash redemption channels, and innovatively launch measures such as online appointment account opening for overseas personnel coming to Fujian, on-site account opening at the port, and digital RMB hard wallet. Provide more convenient and diversified payment services for the elderly, overseas visitors to Fujian and other groups.

The province’s new offshore trade, cross-border e-commerce, market procurement and other related businesses increased by 83.7% year-on-year

We will steadily and orderly promote high-level financial opening up and effectively stabilize the fundamentals of Fujian’s foreign trade and foreign investment. Steadily expand the coverage of the pilot program to facilitate trade and foreign exchange receipts and payments of high-quality enterprises, include private, free trade zone, technology and other high-quality enterprises that are in line with national policy guidance into the scope of the pilot, promote streamlined and electronic business processing, and improve the efficiency of cross-border capital settlement. Since the pilot was launched in September 2020, a total of 213,000 facilitated businesses with a total amount of US$85.6 billion have been handled for 634 pilot enterprises; among them, 27 new pilot enterprises were added in the first quarter. Cultivating new drivers of foreign trade growth, the province’s new offshore trade, cross-border e-commerce, market procurement and other related business revenue and expenditure scale was 9.13 billion US dollars, a year-on-year increase of 83.7%.

A package of cross-border investment and financing facilitation policies, including off-site registration of domestic direct investment and digital services for capital projects, has been launched one after another to improve the quality and efficiency of banking services and continue to optimize the business environment. In the first quarter, the number of foreign exchange registrations for newly established foreign-invested enterprises in the province increased by 1.3 times year-on-year. Among them, the capital inflow of foreign direct investment in the province in March increased by 44.3% year-on-year. Guide banking institutions to help enterprises comprehensively use foreign exchange derivatives and cross-border RMB to avoid exchange rate fluctuation risks. In the first quarter, there were 629 first-time foreign exchange derivative business accounts in the province, a year-on-year increase of 50.8%. Deepen the pilot application scenarios of cross-border financial service platforms, encourage banks to innovate financial products and services, and optimize business processes. In the first quarter, the cross-border financial service platform helped 135 companies across the province obtain a total of 2.77 billion yuan in trade financing, with private enterprises accounting for over 90% of the total. Among them, the financing scale of export credit insurance policies ranks among the top in the country, and the financing amount of small and medium-sized enterprise insurance increased 1.2 times year-on-year. The “bank-enterprise financing docking” application scenario helped 23 companies obtain financing credits of 160 million yuan. Supported enterprises to pay over 7 billion yuan in foreign exchange through facilitated application scenarios.

It was also mentioned at the meeting that in the first quarter, the province’s cross-border RMB business amounted to 313.94 billion yuan, a year-on-year increase of 51.6% based on a record high in 2023; of which the RMB settlement amount under trade was 126.95 billion yuan, A year-on-year increase of 55.1%; 707 new cross-border RMB “first accounts” were added; the cross-border RMB settlement volume with the “Belt and Road” and RCEP member countries increased by 38.1% and 28.1% respectively year-on-year.