[Shandong Provincial Department of Finance] Shandong has issued the country's first systematic fiscal policy to promote the development of supply chain finance.
In order to thoroughly implement the spirit of the provincial "two sessions", implement the requirements of the provincial government work report, and fully serve the eight major development strategies, recently, the Provincial Department of Finance, together with the Provincial Department of Industry and Information Technology and the Jinan Branch of the people's Bank of China, issued a notice on strengthening the integration of fiscal and financial policies to promote the development of supply chain finance in Shandong Province, guide core enterprises to confirm accounts payable and issue commercial bills. Accelerate the credit transmission to small, alleviate the problem of procrastination and delayed payment by core enterprises, revitalize the accounts receivable of small, medium and micro enterprises, promote the smooth financing of small, medium and micro enterprises, and promote production development and kinetic energy conversion.
1. the implementation of the supply chain core enterprise "white list" system. The Provincial Department of Industry and Information Technology, together with the Provincial Department of Finance and the Jinan Branch of the People's Bank of China, will select core enterprises in accordance with the province's industrial development plan, focus on the "four new" economy and the "top ten" industries, and select core enterprises around key manufacturing industry clusters and industrial chains. The "white list" system of core enterprises and the implementation of dynamic list management. Jinan Branch of the People's Bank of China guides financial institutions to implement special credit line management for supply chain financing for core enterprises included in the list.
2. promote accounts receivable financing for small and medium-sized enterprises. Access to the People's Bank of China accounts receivable financing service platform, to small and medium-sized micro-enterprises to confirm the amount of accounts payable year-on-year growth of the top 20 "white list" of core enterprises, in accordance with the accounts receivable to confirm the financing amount of 0.05 of the provincial financial incentives, single-family enterprises annual maximum 1 million yuan.
3. to promote the billing of accounts payable. To guide core enterprises to issue commercial bills of exchange instead of accounts payable, the bills shall be disclosed through the commercial bill information disclosure system of the Shanghai Bill Exchange. For the core enterprises in the "white list" with the top 20 year-on-year growth rate of commercial bill issuance and the proportion of cash payments not lower than the average level of the previous three years, provincial financial incentives will be given according to 0.1 per cent of the growth in issuance, with a maximum annual maximum of 2 million yuan for single-family enterprises. The People's Bank of China gives priority to rediscounting support to commercial bills of exchange issued and accepted by core enterprises discounted by financial institutions.
4. vigorously develop supply chain bills. For the core enterprises in the "white list" of the top 20 in the supply chain bill issuance volume, the provincial level will give financial incentives according to 0.2 of the increase in issuance volume, with a maximum of 3 million yuan per year for single-family enterprises. The People's Bank of China Jinan Branch sets up a special rediscount quota of not less than 5 billion yuan per year to support financial institutions to innovate products and business models, provide financing services such as discounting and pledging of supply chain bills, and in principle give full rediscount to supply chain bills discounted by financial institutions.
5. support the construction of supply chain financial platform. Encourage core enterprises to establish information platforms around the supply chain or use existing third-party information platforms to interface with the supply chain bill platform of the Shanghai Bill Exchange. For our province's information platform directly connected to the supply chain bill platform of the Shanghai bill exchange, the provincial maximum one-time financial reward is 5 million yuan. For our province's information platform indirectly connected to the supply chain bill platform of the Shanghai bill exchange through the China internet finance association, the provincial maximum one-time financial reward is 3 million yuan.
6. to promote standardized bill business. Standardized notes will be included in the scope of direct debt financing guidance incentives, and financial institutions that actively create standardized note business in accordance with the management requirements of standardized notes will be included in the scope of direct debt financing guidance incentives in Shandong Province, and the original holders of standardized notes and depository institutions in the province will be rewarded in accordance with regulations.
7. guide innovative supply chain financial products. Promote financial institutions to innovate supply chain finance special credit products and bill financing facilitation technologies and systems. Financial institutions that actively carry out supply chain financial business and develop supply chain financial products shall be given circular recognition and appropriate rewards.
The fiscal policy of supply chain finance is another concrete practice of financial linkage to support the real economy. The Provincial Department of Finance will continue to strengthen communication and cooperation with relevant departments to promote the continuous improvement of the financing efficiency of small, medium and micro enterprises and reduce financing costs; reduce the interest-bearing liabilities of core enterprises and improve the efficiency of capital turnover; promote the inflow of financial resources into the real economy and consolidate the trade relations between enterprises in the supply chain; actively use the Shanghai Bill Exchange to attract national resources to support Shandong.
Scan the QR code and jump to the "Notice of Shandong Provincial Department of Finance, Shandong Provincial Department of Industry and Information Technology, People's Bank of China Jinan Branch on Strengthening the Integration of Fiscal and Financial Policies to Promote the Development of Supply Chain Finance" for details!
