Early Reading | Central Bank: Supporting the Development of Private Enterprises Financial Sector's Responsibility in Finance | Private Enterprises

Good morning The morning reading of the news is here! On Friday, August 4, 2023, the 18th day of the sixth lunar month in Shanghai, it will be cloudy to cloudy with occasional showers or thunderstorms, with temperatures ranging from 28 to 33 ℃

Focus on Today

Central Bank: Supporting the Development of Private Enterprises and Financial Sectors are Duty bound

"Supporting the development of private enterprises is the responsibility of the financial sector, and it is also an important part of the supply side structural reform of finance." Pan Gongsheng, President of the People's Bank of China, stated on the 3rd that the People's Bank of China will implement a precise and robust monetary policy, maintain reasonable and sufficient liquidity, strengthen coordination and cooperation among financial, fiscal, industrial and other policies, and guide more financial resources to flow into the private economy.

Pan Gongsheng made the above statement at the symposium on financial support for the development of private enterprises held on the same day. Pan Gongsheng introduced that in recent years, the People's Bank of China has adhered to the principle of "two unwavering", introduced a series of policy measures, and worked together with financial institutions to promote the continuous increase, expansion, and price reduction of financing for private enterprises, fully promoting the growth, optimization, and strength of the private economy.

At the symposium, the heads of 8 private enterprises including Yili Group introduced their financing situation and expressed their desire to further expand bond financing channels.

Pan Gongsheng stated that the People's Bank of China will formulate and issue guiding documents on financial support for private enterprises, promoting commercial banks to optimize their internal control management systems. Promote the expansion and increment of private enterprise bond financing support tools, and strengthen financial market support for the development of private enterprises.

On that day, the main leaders of some financial institutions also attended the symposium. Pan Gongsheng requested financial institutions to actively create a favorable atmosphere to support the development and growth of private enterprises, improve risk assessment capabilities, comprehensively review policy arrangements such as performance evaluation, business authorization, internal fund transfer pricing, and due diligence exemption, optimize incentive mechanisms for serving private enterprises, and enhance the willingness, ability, and sustainability of loans.

In addition, in terms of real estate finance, Pan Gongsheng emphasized the need to accurately implement differentiated housing credit policies, meet the reasonable financing needs of private real estate enterprises, and promote the stable and healthy development of the real estate industry.

§Shencheng

Recently, at the certification ceremony for the 37th batch of regional headquarters and R&D centers of multinational corporations, as well as the centralized signing ceremony for foreign-funded projects in Shanghai, four projects were signed and landed in Anting, Jiading. Among them, Pioneer Blue Energy, Faurecia Hydrogen Energy, and Johnson&Johnson Wanfeng are all "new four modernizations" projects in the automotive industry.

Recently, Shanghai Shentie was responsible for investment and construction, and the tunnel section of the 5th section of the urban railway airport connecting line from Huajing Station to Sanlin South Station, which was constructed by Shanghai Tunnel Co., Ltd., has been fully connected.

Shanghai has achieved complete resolution of homicide cases for 8 consecutive years and complete resolution of robbery cases for 5 consecutive years. At the same time, the number of completed cases and reported cases of non-contact crimes such as telecommunications and network fraud also decreased by 11.8% and 8.3%, respectively.

§domestic

Since the beginning of this year, Shanxi Province has accelerated the development and utilization of coalbed methane resources. In June, 880 million cubic meters of coalbed methane were extracted, accounting for approximately 81.5% of the national coalbed methane production during the same period; In the first half of the year, a total of 5.24 billion cubic meters of coalbed methane were extracted, setting a new record for coalbed methane production during the same period in history.

In the first half of the year, China's photovoltaic and lithium battery industries maintained a stable growth trend, with the production of major links in the photovoltaic industry chain increasing by over 60% year-on-year, and the production of lithium batteries increasing by over 40% year-on-year.

On August 2nd, the average rainfall in the Haihe River Basin was only 1 millimeter. According to meteorological forecasts, the rainfall process in the basin has basically ended. On August 3rd, the water level of the upstream backbone rivers of major river systems in the Haihe River Basin was steadily declining.

● In response to the Democratic Progressive Party authorities' announcement of Lai Qingde's "transit" to the US in mid August, Zhu Fenglian, spokesman of the Taiwan Affairs Office of the People's Republic of China, answered questions from reporters on the 3rd and said that we firmly oppose Lai Qingde's activities of fleeing to the US from any cause and in any form, and firmly oppose any form of official exchanges between the United States and Taiwan, China, China. The United States should strictly abide by the one China principle and the provisions of the three Sino US joint communiques.

● On the 3rd, Heilongjiang Province successively issued strong convection early warning, rainstorm early warning, geological disaster meteorological risk early warning, mountain flood meteorological risk early warning, small and medium-sized river flood meteorological risk early warning, reminding relevant regions to do well in flood prevention early warning, risk diversion and other precautions.

§International

Saudi Arabian news agency reported on the 3rd, citing the Saudi Ministry of Energy, that Saudi Arabia will extend the voluntary daily reduction of 1 million barrels of oil production starting from July until the end of September, and may further extend and increase the reduction in production.

Recently, a research team in South Korea claimed to have successfully synthesized the room temperature superconducting material "LK-99". However, according to a report by Yonhap News Agency on the 3rd, the "LK-99" Verification Committee of the Korean Superconducting and Low Temperature Society stated that the images related to "LK-99" and the characteristics of this material shown in the paper do not conform to the Meisner effect, which is insufficient to prove that "LK-99" is a room temperature superconductor.

On the 3rd, Thai National Assembly President Vano announced that the Prime Minister candidate voting session originally scheduled for the 4th will be postponed.

On the evening of the 3rd, the Myanmar National Management Commission issued an order stating that in order to implement the roadmap and goals set by the commission more quickly and effectively, the federal government will be reorganized in accordance with relevant provisions of the constitution. The reorganized federal government will continue to be led by Min Ang Lai as the Prime Minister of the country.

The Bank of England, the central bank of the UK, announced on the 3rd that it will raise its benchmark interest rate from 5% to 5.25%. This is the 14th consecutive rate hike by the Bank of England since December 2021.

● Russian President Putin said in a telephone conversation with President Erdogan of Türkiye on the 2nd that Russia is ready to return to the agreement on the export of agricultural products from Black Sea ports after the West fulfills its obligations to Russia.

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