“Zhejiang has made positive progress in promoting financial support for high-quality development and building a demonstration zone for common prosperity.” On December 16th, Zhu Congjiu, Vice Governor of Zhejiang Provincial People’s Government, said at the “2021 inclusive finance International Forum in China” that the high-quality development trend of Zhejiang’s economy is more obvious, the real economy of financial services is at the forefront of the country, and the development characteristics of inclusive finance are outstanding.
In June this year, the “Opinions of the Central Committee of the Communist Party of China and the State Council on Supporting Zhejiang’s High-quality Development and Building a Demonstration Zone for Common Prosperity” was released, which gave Zhejiang a new mission and became the common responsibility of the financial system. “The People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission and other national ministries and commissions have given strong support, and more than 10 financial institutions such as China Development Bank, Agricultural Development Bank, Bank of China and Agricultural Bank have introduced special support measures. The whole province has made positive progress in promoting financial support for high-quality development and construction of common prosperity demonstration zones.
Diversified financial services inject fresh water into the real economy. By the end of November, the balance of deposits and loans in Zhejiang was 16..9 trillion yuan, 16.4 trillion yuan, ranking fifth and third in the country, up 9..3%、15.1%, the scale of private economy, small and micro enterprises and agriculture-related loans all ranks in the forefront of the country. On the other hand, Zhejiang has implemented the “Phoenix Action” plan in depth, and the number of listed companies in Zhejiang has exceeded 600, ranking second in the country in terms of cumulative number and new number. In the first three quarters, the added value of Zhejiang’s financial industry reached 471 billion yuan, accounting for 9% of the GDP; From January to October this year, the premium income and the scale of private investment funds ranked fourth in the country, and the financial ecological environment continued to be optimized.
In addition, Zhejiang is one of the provinces that promoted the development of inclusive finance earlier in China. the State Council supported the pilot projects such as Taizhou microfinance reform, Ningbo insurance innovation and inclusive finance reform, Wenzhou comprehensive financial reform and Lishui rural financial reform, which took the lead in exploring and forming a number of effective experiences in inclusive finance.
At the same time, Zhejiang gives full play to the first-Mover advantage of financial technology, and vigorously promotes the development of digital inclusive finance services such as mobile payment, internet loans and online insurance, and the digital transformation of financial institutions. A number of distinctive digital financial service platforms, such as credit information of financial services for small and micro enterprises in Taizhou, comprehensive green financial services in Huzhou, and national digital health insurance transactions in Ningbo, have promoted the innovation, quality improvement and efficiency change of financial service models, and enhanced financial availability, coverage and convenience.
“Solidly promoting common prosperity is a major issue facing the financial system in the new era. Inclusive finance is the backbone and has great potential. ” Zhu Congjiu pointed out that it is necessary to adhere to the people-centered development thought, take deepening the structural reform of the financial supply side as the main line, promote the resolution of regional disparities, urban-rural disparities and income disparities as the main direction, improve financial institutions, products, services and working systems, establish and improve the service system in inclusive finance with China characteristics and Zhejiang characteristics, take the lead in exploring practical paths to effectively support common prosperity, and give full play to the important role of finance in promoting high-quality development, high-quality life and high-efficiency governance.
Zhu Congjiu put forward some thoughts and prospects: first, to promote the key link of the new development pattern, and to flow to the fields of scientific and technological innovation, advanced manufacturing, green and low carbon, and domestic and international dual-cycle integrated development; Second, explore the effective path of inclusive finance to support the leap-forward development of mountainous areas, and major financial institutions increase the inclination of resources and vigorously support the development of 26 counties in Zhejiang mountainous areas; Third, explore effective ways for inclusive finance to support agricultural and rural modernization, encourage financial institutions to innovate agricultural financial business mechanisms, models and products, and explore the securitization of community property assets in the future; Fourth, open up an effective path for inclusive finance to support “expanding China and lowering China”, promote the expansion of loans for small and micro enterprises, individual industrial and commercial households and new agricultural business entities, and establish and improve a wealth management system that serves the vast number of urban and rural residents; Fifth, build a high-level inclusive finance to develop a high-quality ecology, strengthen the linkage between provinces, cities and counties, and the cooperation between government, banks and enterprises, and adhere to financial goodness and firmness.Firmly hold the bottom line of no systemic regional financial risks.
(Source: shanghai securities news)