Red Net News June 27thAs an important part of the real economy, the private economy has played an active role in stabilizing growth, promoting innovation, increasing employment and improving people’s livelihood. In order to further attract financial "living water" to irrigate the private economy, CITIC Bank launched a new "Star Plan" to help the private economy, aiming at establishing and improving a long-term mechanism for financial services to private enterprises, focusing on helping private enterprises enhance their market competitiveness, and continuously strengthening service upgrading and model innovation for private enterprises to help them develop and grow.
Gather experts from production, learning and research to explore new ideas to help private enterprises develop.
Recently, CITIC Bank and Xinhuanet jointly created the column "A New Talk on CITIC Bank’s Private Economy", inviting private enterprises and a group of experts in production, learning and research to focus on how finance can help private enterprises to innovate in science and technology and develop new quality productivity, how to meet the growing demand for compound finance of green enterprises, how to help private enterprises "sail out to sea" and other issues, and jointly explore new ways and directions for financial institutions to help private economy develop.
In the program, Mr. Wang Zecai, a researcher at China Academy of Fiscal Science, said: "Today’s private enterprises are facing the biggest test, and it is still to strengthen their competitiveness through technological innovation. The more at such a critical moment, the more it is necessary to increase investment in research and development, and constantly strengthen its competitiveness in research and development, so that enterprises can have the possibility of sustainable development. Financial institutions must understand the changes of private enterprises and form some long-term product support. Private enterprises will be more at ease to do technological innovation. "
Mr. Li Zhi Qi, vice chairman of the Beijing Federation of Industry and Commerce and chairman of the revitalization of international think tanks, said: "For financial institutions themselves, financial technology also needs to further increase investment, rely more on artificial intelligence and big data technology to complete the description and characterization of projects, and further strengthen scientific and technological means, so that financial technology will be more efficient and truly quench the thirst for private enterprises."
In order to help private enterprises to innovate in science and technology and stimulate their endogenous motivation, CITIC Bank helped the private economy "Star Plan" to start technology and finance business in an all-round way, and built an agile organization serving private science and technology enterprises. With innovative products such as CITIC Bank’s scorecard approval, science and technology talent loan, listing relay loan, equity incentive financing, and personal credit loan for science and technology enterprises as the core, it accurately supported private science and technology enterprises at different stages in different levels, and improved the credit availability of private science and technology enterprises.
Taking the "Star Project" as the medium to help private enterprises develop new quality productivity
Since the beginning of this year, many localities and departments have listed "promoting the development of private economy" as one of the key development tasks in 2024, and they have come up with new measures, bright practical measures and hard measures to accelerate the release of the development potential of private enterprises. Of course, the private economy still faces many challenges in its rapid development, such as difficult and expensive financing, imperfect regional supporting industrial chain, and long-term financial transfusion.
To this end, CITIC Bank launched three key measures to help the private economy "Star Plan", including "deepening five major tracks, landing three major assistance systems, and practicing one major assistance action", with a view to providing all-round and multi-level service solutions for private enterprises, and continuously exploring financial services that conform to the operating rules, production cycles and industry characteristics of private enterprises, and comprehensively improving the quality and efficiency of financial services for private enterprises.
"Deeply ploughing the five major tracks" means doing a good job in inclusive finance and improving the financial service capabilities of small and micro enterprises; Strengthen science and technology finance and focus on building a professional and sustainable technology and finance system; Do a good job in advanced manufacturing industry and give priority to the allocation of credit resources in advanced manufacturing industry; Do deep supply chain finance and actively build a supply chain financial ecosystem; Expand cross-border finance and comprehensively help small and medium-sized foreign trade private enterprises to enhance their international competitiveness.
The core of the "three major assistance systems" is to effectively solve the pain points and difficulties in the operation of private enterprises. Among them, the first major assistance system continues to "transfusion" private enterprises around the three key points of financing cost reduction, operation quality improvement and development acceleration, including expanding product supply, covering the multi-level financing needs of enterprises, deepening the "CITIC Great Collaboration" model, providing private enterprises with comprehensive financial and non-financial services, and creating a full chain service of "domestic trade+import and export trade+offshore trade" to support foreign-oriented private enterprises to carry out cross-border trade.
The second major assistance system starts from the development line, and helps the integrated development of the industrial chain of private enterprises. On the implementation path, CITIC Bank will focus on the mode of "one chain, one policy and one batch", with the "chain owner" enterprises as the core, and serve the financing needs of a batch of private enterprises upstream and downstream of the chain owner enterprises, benefiting small and medium-sized private enterprises in the chain.
The third major assistance system is connected to help the coordinated development of private economic regions. At present, CITIC Bank has completed the service mechanism of "regional collaboration", adhered to the concept of "one CITIC, one customer", deepened the three collaborative service ecosystems of financial collaboration, industry-finance linkage and think tank collaboration, and provided comprehensive financial services to private enterprises.
At the same time, the "Star Plan" actively implements the action of helping the private economy to "enter all enterprises". By entering small and micro private enterprises, specialized and innovative "little giants", characteristic industrial chain clusters, science and technology enterprises and industrial parks, "chain owners" enterprises, and foreign trade private enterprises, we can truly deliver policies and services to private enterprises.
Face to face with enterprises and explore a new direction of symbiotic development between banks and enterprises
On the spot of this column, CITIC Bank invited representatives of first-line private enterprises such as Jiumu Group and Hebei Zhikun Precision Transmission Technology Co., Ltd. (hereinafter referred to as "Zhikun Technology") to have an in-depth discussion on how banks and enterprises can coexist and grow together. In this regard, Mr. Liu Zepeng, Chief Financial Officer of Zhikun Technology, said, "CITIC Bank’s series of support measures can not only meet the core capital needs efficiently, but also enable Zhikun Technology to connect with more resources that were difficult to reach before, thus promoting the rapid development of the overall business. As partners, both parties will grow together in a’ two-way trip’."
Ms. Yang Qiaofeng, Chief Financial Officer of Jiumu Group, said, "For Jiumu Group, the core demand is supply chain finance. The ideal state is to be able to benefit its own credit to upstream and downstream enterprises, thus making it easier for them to obtain financing in financial institutions. Through cooperation with CITIC Bank, this idea has become a reality."
CITIC Bank has tailored a variety of comprehensive service solutions for trading banking products for Jiumu Group in terms of upstream supplier financing services, including Chinese enterprise cloud chain factoring financing, letter business ticket, supply chain bill financing, etc. For downstream distributors, CITIC Bank granted a certain loan amount according to the first-class distributors recommended by Jiumu Group and their historical transaction data, and launched the distribution of e-loan products based on the inclusive data model, thus helping enterprises realize the stability of supply chain and industrial chain.
It is worth noting that CITIC Bank will help the "Star Plan" of the private economy, and will continue to contribute "CITIC value" in terms of innovative technology, achieving the goal of double carbon, expanding new quality productivity, and helping private enterprises "go global".
Private economy is a new force to promote Chinese modernization and an important foundation for high-quality development. Private enterprises are like stars to China’s economy, the strength of China’s economy and the resilience of China’s economy. In the future, CITIC Bank will further lay a good "combination boxing" and launch "hard measures" to gather strength to empower the high-quality development of the private economy, make private enterprise partners move forward to the new, help thousands of "stars" and gather in the bright Milky Way!
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