Latest release! ,Renewal loan policy

Release time:Sep 25, 2024 12:00 PM

In order to thoroughly implement the spirit of the Third Plenary Session of the 20th CPC Central Committee, the Central Financial Work Conference and the Central Economic Work Conference, further improve the work of loan renewal and effectively improve the quality of financial services for small and micro enterprises, the Financial Regulatory Administration recently issued the "Notice on Doing a Good Job in Loan Renewal and Improving the Level of Financial Services for Small and Micro Enterprises".

The Notice has seven articles, and the main contents include: First, the scope of loan renewal will be expanded from some small and micro enterprises to all small and micro enterprises. Small and micro enterprises that have real financing needs after the loan expires and have temporary financial difficulties can apply for loan renewal support. Second, it is clarified that working capital loans for small and micro enterprises and operating loans for small and micro business owners, individual industrial and commercial households and farmers can be renewed. Third, the loan renewal policy will be expanded to medium-sized enterprises in stages, with a tentative term of three years. Fourth, the risk classification standards will be optimized. For enterprises that comply with the law, continue to operate, have good credit, and have no bad behaviors such as interest arrears and debt evasion, when the loan is renewed, the risk classification will not be lowered separately due to loan renewal. Fifth, banking financial institutions are required to improve the relevant system of due diligence exemption for loan renewal, optimize the work process, and effectively loosen the constraints and reduce the burden on credit personnel.

The issuance and implementation of the "Notice" is an important measure to ease the financing pressure of small and medium-sized enterprises, which will play a positive role in unblocking the production, supply and marketing cycle of enterprises, maintaining normal operations and expanding business scale. In the next step, the Financial Regulatory Bureau will strengthen supervision and guidance, continue to promote the implementation of the renewal loan policy, guide banking financial institutions to improve the level of financial services, and effectively improve the quality and efficiency of financial services for the real economy.

The relevant department heads of the State Financial Supervision and Administration Bureau answered questions from reporters on the "Notice on Doing a Good Job in Renewal of Loans and Improving the Financial Services Level of Small and Micro Enterprises"

Q: What is the background of the formulation and issuance of the "Notice"?

A: The Financial Regulatory Bureau has always resolutely implemented the decisions and arrangements of the CPC Central Committee and the State Council, and attached great importance to the financing of small and micro enterprises. In 2014, the former China Banking Regulatory Commission issued a policy on the renewal of loans for small and micro enterprises, which effectively met the continued financing needs of small and micro enterprises and was widely welcomed. In order to further improve the availability and convenience of the renewal of loans for small, medium and micro enterprises and alleviate their financing pressure, the Financial Regulatory Bureau has made optimization and adjustments to the renewal of loans policy based on in-depth investigation and research in accordance with the decisions and arrangements of the CPC Central Committee and the State Council.

Q: What adjustments have been made to the loan renewal subjects in the "Notice"?

Answer: The Notice supports banking financial institutions to enrich loan renewal products, optimize loan service models, improve loan renewal product categories, and clarify that working capital loans for small and micro enterprises and operating loans for small and micro business owners, individual industrial and commercial households and farmers can all be renewed. All small and micro enterprises that still have financing needs after the loan expires and have temporary financial difficulties can apply to banking financial institutions for loan renewal support. Banking financial institutions independently review and approve loan renewals in accordance with market-oriented and rule-of-law principles, and allow small and micro enterprises to continue to use loan funds by issuing new loans to settle original loans.

Q: What provisions does the "Notice" make on the classification of loan renewal risks?

Answer: The Notice requires banking financial institutions to reasonably determine the risk classification of renewed loans to truly and accurately reflect the quality of financial assets. Appropriately optimize the classification standards for normal assets of renewed loans, and allow banks to renew loans for enterprises that comply with laws and regulations, continue to operate, have good credit, and have no bad behaviors such as defaulting on interest or evading debts, without lowering the risk classification for renewed loans alone.

Q: How does the loan renewal policy apply to medium-sized enterprises?

Answer: The "Notice" fully takes into account the actual situation and financing needs of medium-sized enterprises at this stage, and will temporarily expand the loan renewal policy to medium-sized enterprises, with a term temporarily set at three years. That is, for working capital loans of medium-sized enterprises that expire before September 30, 2027, if there is a need for capital continuation, commercial banks can refer to the loan renewal policy for small and micro enterprises to handle loan renewal.

Q: What requirements does the Measures put forward for improving the due diligence exemption for renewal loans?

Answer: The "Notice" requires banking financial institutions to further improve the relevant systems for due diligence exemption for loan renewals, optimize work processes, strengthen internal controls, and specify exemption circumstances, so as to effectively loosen the constraints and reduce the burden on credit personnel, effectively protect their enthusiasm for conducting business, and form a long-term mechanism that ensures that credit personnel dare to lend, are willing to lend, can lend, and know how to lend.

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