Central bank: preferential interest rate loans are being issued rapidly (full text of the conference attached)

category:Finance
 Central bank: preferential interest rate loans are being issued rapidly (full text of the conference attached)


[the peoples Bank of China: enterprises in key epidemic prevention and control areas should really enjoy benefits] Peng Lifeng, deputy director of the financial market department of the peoples Bank of China, said that we should strengthen financial support for epidemic prevention and control. For key epidemic prevention and control fields and industries greatly affected by the epidemic, relevant measures should be implemented to ensure that these enterprises really enjoy the benefits. In terms of credit support, it should be emphasized that: the amount of credit should be increased, the price should be reduced, the structure should be optimized, the efficiency should be improved, and the process should be simplified so that the credit funds can be funded as soon as possible. Banks should be flexible in the arrangement of repayment and should not blindly withdraw, suppress or cut off loans.

[Central Bank: the impact of the epidemic on the economy is temporary and investors are rational] the joint defense and control mechanism of the State Council held a press conference on February 14. Peng Lifeng, deputy director of the financial market department of the peoples Bank of China, said that generally speaking, the financial market is sensitive to short-term shocks, but it will return to economic fundamentals and medium and long-term trends after the shocks. Recent financial market trends show that the impact of the epidemic on the economy is temporary and will not change the fundamentals of Chinas long-term economic growth to a good and high quality. Investors are rational and confident in Chinas future economic growth. In the future, we will continue to track the progress of the epidemic, make timely risk response and maintain the stable operation of the financial market.

According to Fu Jinling, director of the social security department of the Ministry of finance, as of February 13, a total of 80.55 billion yuan of epidemic prevention and control funds had been allocated by all levels of finance, including 17.29 billion yuan by the central government. The specific investment direction of the funds arranged by the central government is as follows: first, the central government will allocate 1 billion yuan of epidemic prevention and control funds to Hubei Province as a comprehensive financial subsidy, and Hubei Province will coordinate the relevant expenditures for epidemic prevention and control. Second, 4.4 billion yuan of epidemic prevention and control funds were allocated to Hubei and other places for subsidies for medical treatment expenses of patients, temporary work subsidies for front-line medical personnel, prevention and control equipment, material procurement and other aspects. The third is to allocate 500 million yuan of central infrastructure investment subsidy of Hubei Province, which is mainly used to support the capital construction and equipment purchase of two hospitals of leishenshan and huoshenshan in Wuhan, as well as the construction of critical treatment areas of related hospitals. Fourth, 9.95 billion yuan was allocated for basic public health services and grassroots epidemic prevention. In addition, the research and development of vaccines, as well as the central reserve of medical materials and other funds have also been fully arranged.

[Ministry of Finance: the epidemic will have a certain impact on catering and other peoples livelihood industries] Wang Jianfan, director of the tax department of the Ministry of finance, said that the epidemic will have a certain impact on some peoples livelihood industries, such as public transport, catering, accommodation, tourism and civil aviation.

[Ministry of Finance: strengthen policy reserve and promote the resumption of small and micro enterprises] the deputy director of the social security department of the Ministry of Finance said that he mainly supports the resumption of production of five types of enterprises (key guarantee enterprises) as soon as possible. We will strengthen policy reserves and promote small and micro enterprises to return to work and production.

[Ministry of Finance: financial institutions sign loan contracts with small and micro enterprises to exempt from stamp duty] Wang Jianfan, director of the tax department of the Ministry of finance, said today that in terms of supporting small and micro enterprises, including encouraging financial institutions to provide more preferential loans and financial services to these small and micro enterprises, there are some tax policies. The first is to exempt the interest income of loans to financial institutions, small and micro enterprises and individual industrial and commercial households from value-added tax. The single credit line is set at 10 million, and the interest of loans to enterprises with single credit line less than 10 million is exempt from value-added tax. Second, the income of guarantee fee and re guarantee fee provided by taxpayers for financing guarantee of small and micro enterprises individual businesses is exempt from value-added tax. Third, the loan contracts signed between financial institutions and small and micro enterprises are exempt from stamp tax, and the loan loss reserves of small and medium-sized enterprises accrued by financial enterprises can be deducted before tax.

[China Banking and Insurance Regulatory Commission: it is required to strengthen the loan renewal support for the enterprises in trouble, so as to make the loan exhausted] Li Junfeng, director of Inclusive Finance Department of China Banking and Insurance Regulatory Commission: small and micro enterprises have difficulty in cash flow and loan repayment, and a series of policies have been issued to increase the credit supply. It is required to strengthen the support for the loan renewal of the enterprises in trouble, and make sure that they should make full use of the loan.

[CBRC: for small and micro enterprises in Hubei Province and other small and micro enterprises greatly affected by the epidemic, the loan interest rate should be lowered appropriately] Li Junfeng, director of Inclusive Finance Department of CBRC: CBRC and banks have been promoting the reduction of financing costs of small and micro enterprises. For small and micro enterprises such as Hubei Province, which are greatly affected by the epidemic, the loan interest rate can be lowered appropriately. For small and micro enterprises facing difficulties, banks and enterprises should reasonably negotiate the ways of repayment and repayment of principal and interest to overcome the difficulties. We should encourage banks to practice their social responsibilities and reduce the interest on loans for a period of time. We will resolutely put an end to the banks indiscriminate charging of small and micro enterprises in loans.

The minutes are as follows:

Good afternoon, media friends!

I am Mi Feng, spokesman of the National Health Commission and deputy director of the publicity department. Welcome to the press conference of the joint defense and joint control mechanism of the State Council. To maintain stable economic operation and social harmony and stability, we need strong support from fiscal, tax and financial policies. The theme of todays conference is to increase financial and tax support for epidemic prevention and control.

Mr. Feng Luzhao, a researcher from China CDC, was also invited to answer the questions about health knowledge.

From 0:00 to 24:00 on February 13, 5090 new confirmed cases and 2174 new severe cases were reported by all provinces (districts, cities) and Xinjiang production and Construction Corps. There were 121 new deaths, including 116 in Hubei, 2 in Heilongjiang, 1 in Anhui, 1 in Henan and 1 in Chongqing. 2450 new suspected cases. On the same day, 1081 cases were cured and 26905 close contacts were released from medical observation.

As of 24:00 on February 13, according to the reports of provinces (districts, cities) and Xinjiang production and Construction Corps, there are 55748 confirmed cases, including 10204 severe cases. There were 6723 cases cured and discharged, 269 of which were decreased in Hubei Province; 1380 cases died, 108 of which were decreased due to repeated statistics in Hubei Province; 63851 confirmed cases were reported, 1043 of which were decreased in Hubei Province. There are 10109 suspected cases. There were 493067 close contacts and 177984 close contacts still under medical observation.

There are 4823 newly confirmed cases in Hubei, including 3910 in Wuhan; 690 newly cured and discharged cases, including 370 in Wuhan; 116 newly dead cases, including 88 in Wuhan. There are 46806 confirmed cases, including 32959 in Wuhan, 9278 of which are serious cases, including 7492 in Wuhan. 3862 discharged cases were cured, including 2016 in Wuhan; 1318 dead cases, including 1016 in Wuhan; 51986 confirmed cases, including 35991 in Wuhan. There are 1154 new suspected cases, including 473 in Wuhan, and 6169 in Wuhan, including 2585 in Wuhan.

In the data of Hubei province that I just reported, the number of confirmed cases includes clinical cases. Novel coronavirus pneumonia in Hubei is a good example for Hubei to diagnose and treat early, and to implement the well received and effective treatment.

Chinas novel coronavirus pneumonia case was confirmed by WHO yesterday. It supports the adoption of clinical diagnosis results in Hubei to confirm the new crown pneumonia cases, which is believed to help patients get clinical care faster. The number of confirmed cases has increased. It does not mean that the development trajectory of the epidemic has changed significantly.

In addition to Hubei, the number of newly diagnosed cases in other provinces decreased from 890 on February 3 to 267 on February 13, realizing ten consecutive drops. Among them, the number of newly confirmed cases in Shanxi Province, Inner Mongolia Autonomous Region, Jilin Province, Tibet Autonomous Region, Gansu Province, Qinghai Province, Xinjiang Uygur Autonomous Region and Xinjiang production and Construction Corps has been less than 5 for three consecutive days. This suggests that the early prevention and control is powerful and effective, and we need to continue to consolidate the prevention and control results.

The above is the epidemic situation.

Next, enter the on-site questions. Please inform your news organization before asking.

CCTV reporter:

After the outbreak of the epidemic, the financial departments at all levels actively implemented the fund guarantee policy and vigorously supported the prevention and control of the epidemic. What are the main arrangements of the central and local financial funds?

Host:

Mr Fu Jinling, please answer this question.

Fu Jinling:

Thank you for your questions and for your interest in the financial work. As you said, after the outbreak of the epidemic, the financial departments at all levels responded quickly and responded in a timely manner according to the decision-making and deployment of the Party Central Committee and the State Council. We issued a series of fiscal and tax security policies to effectively guarantee the funds. The Ministry of finance has established a daily report system for epidemic prevention and control funds in the national financial system, which tracks the guarantee of local funds in real time. As of February 13, the financial expenditure at all levels was 80.55 billion yuan, of which 17.29 billion yuan was allocated by the central government. Now I will give you a specific report.

The specific investment direction of the funds arranged by the central government is as follows: first, the central government will allocate 1 billion yuan of epidemic prevention and control funds to Hubei Province as a comprehensive financial subsidy, and Hubei Province will coordinate the relevant expenditures for epidemic prevention and control. Second, we allocated 4.4 billion yuan of epidemic prevention and control funds to Hubei and other places for subsidies for medical treatment expenses of patients, temporary work subsidies for front-line medical personnel, prevention and control equipment, material procurement and other aspects. The third is to allocate 500 million yuan of central infrastructure investment subsidy of Hubei Province, which is mainly used to support the capital construction and equipment purchase of two hospitals of leishenshan and huoshenshan in Wuhan, as well as the construction of critical treatment areas of related hospitals. Fourth, 9.95 billion yuan was allocated for basic public health services and grassroots epidemic prevention. In addition, the research and development of vaccines, as well as the central reserve of medical materials and other funds have also been fully arranged.

According to the expenditure of epidemic prevention and control funds, the actual expenditure of 41 billion yuan is mainly used for the purchase of equipment and protection materials, subsidy for epidemic prevention and control personnel and subsidy for medical treatment.

On February 12, the executive meeting of the Political Bureau of the CPC Central Committee clearly proposed to increase capital investment to ensure the need for funds for epidemic prevention and control. Financial departments at all levels will resolutely implement the spirit of the meeting of the Standing Committee of the Political Bureau of the Central Committee, implement the guarantee policy of epidemic prevention and control funds in accordance with the decision-making and deployment of the Party Central Committee and the State Council, and the central finance will continue to arrange funds to support the local prevention and control work in the near future according to the epidemic prevention and control tasks and the use of funds.

Therefore, the local epidemic prevention and control funds are guaranteed, and will not affect medical treatment or epidemic prevention and control because of funding problems. Thank you.

Host:

Reporter of Economic Daily:

Host:

Please ask Mr. Peng Lifeng to answer this question.

Peng Lifeng:

Thank you for your question. Because of the disturbance of the epidemic to the economy and finance, we are more concerned about the financial market.

Since February 3, after a short adjustment at the beginning of the opening, major financial markets have maintained stable operation. In the money market, liquidity is abundant, interest rates are low and stable, and financing of small and medium-sized financial institutions is smooth. Yesterday, dr007 was 2.11%, 43 BP lower than before the Spring Festival. In the bond market, the epidemic related theme bonds were actively subscribed, and the bond yield fell. Yesterday, the yield of 10-year Treasury bonds was 2.82%, 17 BP lower than before the Spring Festival. In the stock market, after a brief adjustment on February 3, the stock market rebounded for 7 consecutive days. The growth enterprise market has recovered the lost land, set a new high in the near future, and the capital continued to flow into Beijing. On the foreign exchange market, the RMB exchange rate fell on the first day of opening, and then fluctuated in a small two-way way around 7 yuan. The financial market infrastructure transaction, clearing, settlement, issuance and other services guarantee work is stable and orderly. Generally speaking, financial markets are sensitive to short-term shocks, but they will return to economic fundamentals and long-term trends after shocks. Recent financial market trends show that the impact of the epidemic on the economy is temporary and will not change the fundamentals of Chinas long-term economic growth to a good and high quality. Investors are rational and confident in Chinas future economic growth. In the future, we will continue to track the progress of the epidemic, make timely risk response and maintain the stable operation of the financial market.

Please continue to ask questions.

CCTV reporter:

Recently, the Ministry of finance has issued a very intensive tax policy during the epidemic prevention and control period, so what are the main aspects of this package of tax preferential policies? What areas?

Host:

Please ask Mr. Wang Jianfan to answer this question.

Wang Jianfan:

Thank you for your questions. On February 5, the executive meeting of the State Council made a series of decisions and arrangements. After the meeting, the Ministry of finance, together with relevant departments, issued four announcements, covering nine tax policies. These nine policies and announcement contents can be found on the website of the Ministry of finance. If friends from all walks of life want to know the specific details, they can be seen on our website.

I have summarized several points. Although they are nine, they focus on epidemic prevention and control, which are mainly reflected in three aspects:

First, for material support. The policy for key material production enterprises involves three major items:

First, the incremental allowance of value-added tax can be refunded in full, which can make the input tax on the purchase of production equipment be refunded in advance without any deduction, ease the cash flow of the enterprise and reduce the financial cost;

Third, exemption from registration fees for relevant epidemic prevention drugs and medical devices. This is for material production enterprises. In terms of material supply, it is also related to the transportation of materials. The enterprises that undertake the transportation of these key materials can get the relevant income free of value-added tax.

Second, the epidemic will have some impact on the livelihood industry, such as public transport, accommodation, tourism, express delivery and civil aviation. Several policies we have issued are conducive to these industries to tide over the difficulties. It should be said that there is a timely rain, mainly including several policies. One is to provide tax payers with life services, public transport services and express delivery of materials necessary for residents life The income obtained is exempt from VAT. Second, for the transportation, catering, accommodation, tourism and other industries, because the current flow of people is less, there may be periodic losses. According to the provisions of the enterprise income tax law, this loss can be gradually digested in the next five years. In order to make the losses of these enterprises fully compensated in the future, the State Council stipulated to extend the loss period for another three years, 5 + 3 is eight years. Third, the civil aviation enterprises themselves also have to pay the Civil Aviation Development Fund. This time, the civil aviation enterprises are also greatly affected and can be exempted from the Civil Aviation Development Fund.

Third, we should encourage donations from all walks of life. After the outbreak of the epidemic, all parties should donate materials to hospitals undertaking medical treatment tasks. According to the provisions of the tax law, the donated materials should be donated to medical institutions through public welfare institutions. In order to improve the efficiency of donation, we should encourage direct donation, and allow direct donation to hospitals to be deducted before tax. In addition, many enterprises and individuals donate money. According to the tax law, both individual donation and enterprise donation are limited in proportion. According to the policy issued this time, the full amount of donation can be deducted.

In addition, a tax-free policy has also been introduced for temporary work subsidies for medical aid workers.

Therefore, the above four policies cover a relatively wide range and are closely related to epidemic prevention. I believe that these policies will help reduce the production and operation costs and financial costs of relevant enterprises in the current emergency rescue stage, especially in the most difficult stage of epidemic prevention and control, increase the security of epidemic prevention materials and medical products, help relevant enterprises survive the difficult period and effectively mobilize Resources from all sectors of society will provide better support for winning the epidemic Resistance War. We will work with relevant departments to seriously organize and implement policies to ensure that they are implemented in place and play a good role. Thank you.

Xinhua News Agency:

Host:

Please ask Mr. Li Junfeng to answer this question.

Li Junfeng:

The epidemic affected all aspects of economic life, with large number of small and micro enterprises and weak anti risk ability. The impact of the epidemic was more obvious. Especially in the labor-intensive industries of planting and breeding, wholesale and retail, accommodation and catering, logistics and transportation, cultural tourism, manufacturing and export, the normal business activities of small and micro enterprises are greatly affected. Under this influence, the financing demand of small and micro enterprises has also changed. From the survey, the changes are mainly reflected in three aspects: first, cash flow is tight, and the loan demand for rescue and rescue is prominent. A large number of small and micro enterprises shut down due to the epidemic, but still need to pay wages, rents, etc., with less revenue and no less expenditure, so they need emergency loans. Second, after small and micro enterprises resume production and work, there is a strong demand for new credit. In the previous period, affected by the Spring Festival and the epidemic, enterprises generally shut down and shut down, and recently some enterprises returned to work to further increase their external financing needs. Third, the ability of some enterprises to repay loans in the short term has declined, the pressure of repayment has increased, and loans need to be extended and postponed, which also increases the potential risk of non-performing loans.

According to these characteristics, the CBRC has issued a series of policies to increase the credit supply of small and micro enterprises in accordance with the requirements of special affairs, urgent affairs and breaking through the routine. Focus on the following aspects: first, the bank is required to continue to increase, expand, reduce the cost and improve the quality of loans to small and micro enterprises in accordance with the requirements of increment, expansion, cost reduction and quality improvement, and further improve the credit to small and micro enterprises to ensure that small and micro enterprise loans are not impacted by the epidemic. It is required that the growth rate and number of small and micro enterprise loans in the banking industry should achieve the goal of two increases. The loan growth rate and the first loan ratio of inclusive small and micro enterprises of five large state-owned banks will be higher. Second, it is required to give priority to credit resources to areas and industries seriously affected by the epidemic, especially large and medium-sized banks. It is required to adjust credit plan quota allocation, internal fund transfer pricing, performance appraisal weight, etc., strengthen guidance and support to branches in areas seriously affected by the epidemic, and arrange credit plans and quotas early according to the actual needs of small and micro enterprises Early release. Third, further optimize and simplify the banks process of handling the first loan and renewal loan of small and micro enterprises, simplify some procedures in accordance with the principle of urgent and special affairs, do not require enterprises to increase the credit risk sharing measures in a one size fits all way, and do not blindly withdraw, cut off or squeeze loans. We will open up a green channel for the emergency loan needs of small and micro enterprises involved in the fight against the epidemic, and speed up the processing of credit approval and loan issuance. Fourth, it is required to strengthen the loan renewal support for the enterprises in trouble. For the small and micro enterprises with stable production and operation before the epidemic, no abnormal financial situation and good credit record, due to the temporary financial difficulties caused by the epidemic, it is necessary to make full use of the loan and provide the necessary loan renewal support. For the loan of small and micro enterprises due before the end of June 2020, if the loan may need to be postponed or renewed due to the impact of the epidemic, the banking institutions shall actively provide the loan renewal arrangement within one year to ensure the support for the capital demand of small and micro enterprises. Thank you.

Host:

CCTV financial channel reporter:

On February 7, the Ministry of Finance and other five departments issued a notice to strengthen the support of key material support enterprises for epidemic prevention and control, with good response in all aspects. At present, affected by the epidemic situation, Chinas catering and accommodation, wholesale and retail, transportation and logistics, cultural tourism and other enterprises are facing great pressure. In order to help these enterprises survive the difficulties and develop stably, will preferential discount policies for enterprises guaranteed by the epidemic situation be extended so that enterprises affected by the epidemic situation can enjoy the discount policy support of the central government? Thank you.

Host:

Mr. Fu Jinling, please answer the questions.

Fu Jinling:

Thank you for your question, which shows that you are very concerned about the impact of the epidemic on the enterprises concerned. This issue is also concerned by the enterprises concerned, especially the small and medium-sized enterprises. After the outbreak of the epidemic, it did have a certain impact on some industries, especially small and medium-sized enterprises, and some enterprises have not yet returned to work. Under the leadership of the Party Central Committee and the State Council, the Ministry of finance, together with relevant departments, has issued a series of fiscal policies, including the central policy of discount interest. Five types of enterprises are mainly supported: first, important medical materials enterprises; second, important raw and auxiliary materials manufacturing enterprises, important equipment manufacturing enterprises and relevant supporting enterprises; third, backbone enterprises that produce important necessities of life; fourth, important medical materials storage enterprises; fifth, providing relevant information, communication services and services to cope with the epidemic situation The enterprises of the system, as well as those undertaking the corresponding tasks of material transportation and sales. What we need to emphasize here is that these policies are focused precisely. For the enterprises directly related to the epidemic prevention and control work, relevant departments are being urged to accelerate the implementation of policies and help key enterprises to resume production and operation as soon as possible. The next step is to comprehensively consider the impact of the epidemic on the economy, the implementation effect of existing policies and other factors, strengthen the macro research and judgment, make a forward-looking and targeted policy reserve, formulate relevant policies according to the needs of the follow-up work to help enterprises, especially small and medium-sized enterprises to reduce the burden, and resume production as soon as possible. Thank you.

Reporter of Oriental TV:

This epidemic has had a great impact on some enterprises. We would like to know what financial support will be provided to these affected enterprises?

Host:

Please ask Mr. Peng Lifeng to answer this question.

Peng Lifeng:

Thank you for your question.

Since the outbreak of the epidemic, the production and operation of some enterprises have been impacted. In the early stage, we have worked with the Ministry of Finance and other five departments to put forward 30 policies and measures to strengthen financial support for epidemic prevention and control. The focus of the follow-up work is to implement the measures well, so that the areas, industries and enterprises greatly affected by the epidemic can enjoy the benefits of these support measures, and help enterprises to overcome the difficulties. Specifically: first, we need to increase the volume, increase credit support and maintain a reasonable growth rate of loans. To reduce the price, we need to reduce the loan interest rate, reduce the service fee, and reduce the financing cost of enterprises. We need to optimize the structure, increase credit loans and medium and long-term loans, and increase support for small and micro businesses and private enterprises. The efficiency should be improved, the approval process should be simplified, and the approval of lending should be fast. Second, financial institutions should flexibly adjust their repayment arrangements. If it is difficult for enterprises seriously affected by the epidemic to repay when due, they can extend or renew their loans. Enterprises with development prospects but temporary difficulties affected by the epidemic shall not be allowed to blindly withdraw, cut off or suppress loans. Third, the government financing guarantee and re guarantee institutions at all levels should cancel the anti guarantee requirements, expand the guarantee scale, and gradually increase the magnification to 10 times; reduce the guarantee and re guarantee fees, and gradually reduce the average guarantee rate to less than 1%. For the financing guarantee and re guarantee institutions in the areas seriously affected by the epidemic, the state financing guarantee fund shall reduce the guarantee fee by half.

In view of the pressure faced by small and medium-sized enterprises and the problems existing in the process of resumption of production, what kind of tax support policies does the state have for them? Thank you.

Host:

Please ask Mr. Wang Jianfan to answer this question.

Wang Jianfan:

Thank you for your questions. It is true that the whole society is very concerned about the problem of small and medium-sized enterprises after the outbreak, and all aspects focus on how small and medium-sized enterprises can get through the difficulties in the next step. Several reporters at todays press conference asked questions about this issue. So far, if you say hot search, it should be at the top of the list. The tax policies of small and micro enterprises account for a large proportion in the current tax preferential policies. One of the areas focused in our policy design is small and micro enterprises. The policies of small and micro enterprises can be divided into two levels. The first level is the existing preferential policies for enterprises in terms of tax. There is no differentiation of enterprise scale. All enterprises can enjoy as long as they meet the conditions, including the implementation of a larger scale of tax reduction and fee reduction in 2019. Institutional and long-term effective tax system reform will benefit these small and micro enterprises, of course, other enterprises will also enjoy it. This is a big policy bonus package. In the second level, there are special policy arrangements for small and micro enterprises in our policy system. I will make a report on several main aspects to my friends in the media. In all the policies generally applicable to small and micro enterprises, small-scale VAT taxpayers with monthly sales of less than 100000 yuan do not need to pay VAT. A monthly sales of less than 100000 yuan means that the annual sales of less than 1.2 million yuan and the actual tax burden of small and micro profit enterprises with annual taxable income less than 3 million yuan will not exceed 10%. The tax rate applicable to general enterprises is the statutory tax rate of 25%. Therefore, small and micro enterprises have relatively large preferential power in terms of tax rate. Third, last year, we implemented a larger scale of tax reduction and fee reduction. One of the preferential tax options authorized by the peoples governments of all provinces, autonomous regions and municipalities directly under the central government is to reduce six taxes and two fees within a 50% range. All localities are implementing this preferential tax policy. Now a large number of small and micro enterprises continue to enjoy this dividend. At the fourth level, small and micro enterprises are exempted from 42 central level administrative fees, as well as water conservancy construction fund, cultural construction fee, employment security fund for the disabled and other government funds. This is a category. Second, there are special arrangements in the tax to alleviate the financing difficulties and high cost of small and micro enterprises. Just now, Mr. Fu Jinling, a colleague of the CIRC and my colleague, also introduced how finance supports the real economy and small and micro enterprises. In terms of supporting small and micro enterprises, including encouraging financial institutions to provide more preferential loans and financial services to these small and micro enterprises, there are some policies on Taxation. I want to point out several main contents:

First, the credit line of a single enterprise with interest income of loans from financial institutions, small and micro enterprises and individual industrial and commercial households exempted from value-added tax is set at 10 million, and the interest of a single enterprise with credit income of less than 10 million is exempt from value-added tax.

Third, the loan contracts signed between financial institutions and small and micro enterprises are exempt from stamp tax, and the loan loss reserves of small and medium-sized enterprises accrued by financial enterprises can be deducted before tax. The third is the policy of tax to promote enterprise innovation. Mainly, technology-based enterprises are one of the most important fields. For example, the proportion of R & D expenses plus deduction has been increased from 50% to 75%. The preferential tax rate of 15% is applicable to high-tech enterprises, and all enterprises can enjoy as long as they meet the requirements of high-tech enterprises. For venture capital enterprises, angel investors policy orientation is also very obvious.

Today, I mainly introduce three categories to you. If you are interested, you can check these policies on our website. The tax department also has such contents in the Promotion Brochure of tax service. In the policies on epidemic prevention and control released after February 5, in fact, many of them are also enjoyed by small and micro enterprises. For example, transportation enterprises not only refer to large enterprises, but also include self-employed transport enterprises. In the catering industry, small and micro enterprises account for a large proportion. There are also accommodation and life service industries. The audience of life service industry is very large, and large enterprises also have small enterprises. On the coverage of enterprises, small and micro enterprises also account for the main part. The reason why this policy chooses these key industries is that small and micro enterprises are relatively concentrated and can enjoy these policies. In the next step, we will pay attention to the implementation of the policy. On the basis of the implementation of the existing policy, we will study the policy plan in time for the outstanding problems reflected in all aspects, pay attention to all kinds of difficulties faced by small and medium-sized enterprises in this epidemic, prepare the policy plan, help enterprises alleviate the economic difficulties, promote the restoration of production and life order, and maintain the stable operation of the economy. Thank you.

Host:

Please continue to ask questions.

Host:

Please ask Mr. Li Junfeng to answer this question.

Li Junfeng:

Thank you for your question. Small and micro enterprises themselves have relatively high risks and costs. Affected by the epidemic situation, many small and micro enterprises have further increased their financial burden. The CIRC and banks have been sparing no effort to reduce the financing cost of small and micro enterprises in the past two years. In 2018 and 2019, banks will be promoted to reduce the financing cost of small and micro enterprises by more than one point every year. At present, in the special period of fighting the epidemic, in order to further promote the reduction of financing costs of small and micro enterprises, we are ready to take the following special policy measures:

The first measure is to promote the comprehensive financing cost of inclusive small and micro enterprise loans of all banking financial institutions throughout the year, and strive to reduce it by more than 0.5 percentage points on the basis of the reduction in the previous two years.

The second measure is to guide banking financial institutions to reduce loan interest rates for small and micro enterprises that are relatively affected by the epidemic. Five large banks should play a leading role, and the loan interest rate of small and micro enterprises in Hubei Province and other areas affected by the epidemic can be adjusted appropriately on the basis of the reduction in the first two years. At present, the loan interest rate of the five large banks is only 4.7%, which is actually very low. We should strive to continue to increase the preferential interest rate in the areas greatly affected by the epidemic.

The fourth measure is to encourage banks to further practice their social responsibility and reduce the loan interest of small and micro enterprises that are greatly affected by the epidemic for a period of time within their financial capacity. Some banks have offered to reduce the loan interest for one or several months, which we advocate and encourage.

The fifth measure is to resolutely put an end to the banks arbitrary charges for small and micro enterprises in the process of loan, and require the bank to only collect interest and not charge for small and micro enterprises loans, and require the bank not to attach other conditions to small and micro enterprises loans. We also encourage banking financial institutions to increase the reduction of small and micro enterprises in the normal intermediate business and standardized charging links with them.

Through these measures, in this special case this year, efforts will be made to further reduce the financing cost of small and micro enterprises, so that banks and enterprises can overcome difficulties and work together in the same boat. Thank you.

Please continue to ask questions.

On the issue of small and micro enterprises, the financial difficulties of small and micro enterprises affected by the epidemic are increasing. What measures will the CBRC and the bank take to reduce the financing cost of small and micro enterprises?

Host:

Please ask Mr. Li Junfeng to answer this question.

Thank you for your question. Small and micro enterprises themselves have relatively high risks and costs. Affected by the epidemic situation, many small and micro enterprises have further increased their financial burden. The CIRC and banks have been sparing no effort to reduce the financing cost of small and micro enterprises in the past two years. In 2018 and 2019, banks will be promoted to reduce the financing cost of small and micro enterprises by more than one point every year. At present, in the special period of fighting the epidemic, in order to further promote the reduction of financing costs of small and micro enterprises, we are ready to take the following special policy measures:

The first measure is to promote the comprehensive financing cost of inclusive small and micro enterprise loans of all banking financial institutions throughout the year, and strive to reduce it by more than 0.5 percentage points on the basis of the reduction in the previous two years.

The third measure is that for enterprises that are facing difficulties in cash flow affected by the epidemic, banks should reasonably negotiate with enterprises on the way of repayment of principal and interest, avoid the extra cost of penalty interest due to overdue loans, so that banks and enterprises can tide over difficulties and work together in the same boat.

The fourth measure is to encourage banks to further practice their social responsibility and reduce the loan interest of small and micro enterprises that are greatly affected by the epidemic for a period of time within their financial capacity. Some banks have offered to reduce the loan interest for one or several months, which we advocate and encourage.

The fifth measure is to resolutely put an end to the banks arbitrary charges for small and micro enterprises in the process of loan, and require the bank to only collect interest and not charge for small and micro enterprises loans, and require the bank not to attach other conditions to small and micro enterprises loans. We also encourage banking financial institutions to increase the reduction of small and micro enterprises in the normal intermediate business and standardized charging links with them.

Through these measures, in this special case this year, efforts will be made to further reduce the financing cost of small and micro enterprises, so that banks and enterprises can overcome difficulties and work together in the same boat. Thank you.

Phoenix TV reporter:

The peoples Bank of China launched a 300 billion yuan special re loan earlier. How to implement it? How to ensure that the epidemic needs to be accurately targeted?

Host:

Mr. Peng Lifeng, please answer the questions.

Peng Lifeng:

Thank you for your concern on this issue. I understand that there are two concerns about this issue, one is that the loan is too slow to help enterprises expand the supply of epidemic prevention materials as soon as possible, the other is that the loan is too fast to be used where it is most needed. To be honest, this is what we are worried about and the focus of our work in the near future. Take this opportunity to report to you on the measures we have taken:

In terms of standardizing the use of re loans, the Ministry of Finance and other five departments jointly issued documents to strictly manage the whole process of preferential interest rate loans, including clarifying the screening criteria and submission process of key enterprises, and standardizing the list management of key enterprises. Banks are required to strengthen post loan management to ensure that funds are used for production and operation activities related to epidemic prevention and control. The peoples Bank of China shall establish an electronic standing book to track and supervise the use of special re loans. The Ministry of finance supervises the arrangement of central financial discount interest. The audit office strengthens audit supervision to ensure the open, fair and just use of funds. If it is found that an enterprise misappropriates funds, it shall take back the loan in advance, remove the list of key enterprises and investigate for responsibility. If the bank withdraws the re loan funds, it shall take back the re loan in advance and cancel its qualification to issue the loan with preferential interest rate.

Host:

Last question.

In order to encourage banks to increase financial support for small and micro enterprises affected by the epidemic, what are the specific arrangements of the CBRC in terms of regulatory policies?

Host:

Please ask Mr. Li Junfeng to answer this question.

Li Junfeng:

Thank you for your question. In the special period of fighting the epidemic, the regulatory policy must reflect its flexibility and flexibility. We require all local banking and insurance regulatory bureaus and banking financial institutions to encourage bold innovation in accordance with the principle of special handling, urgent handling, breaking through the routine and precise implementation of policies. We will summarize the good practices and experience of all regions in time for promotion. In terms of regulatory policy, there are four main considerations:

First, in terms of loan classification, if the loan is overdue due to the impact of the epidemic, the repayment within a certain period of delay will not be included in the non-performing loan and will not affect the credit records of small and micro enterprises.

Second, banks should be allowed to further improve the tolerance of non-performing loans. For small and micro enterprises in regions and industries greatly affected by the epidemic, the tolerance of non-performing loans can be further improved.

Third, further implement the requirements of due diligence exemption. If there is sufficient evidence to prove that small and micro enterprises cannot repay due to the impact of the epidemic, we will consider it as force majeure, and the bank shall exempt the handling personnel and relevant management personnel from accountability.

Fourth, for small and micro enterprises affected by the epidemic, which have resulted in non-performing loans and losses, we encourage banking financial institutions to appropriately simplify the internal identification procedures and increase the efforts of independent verification.

Through the above measures, we can establish wartime thinking and work creatively in a special period to better cope with the impact of the epidemic on the credit of small and micro enterprises.

Todays on-site questions are here. Now, lets invite experts to introduce relevant health knowledge. Lets welcome Mr. Feng Luzhao.

Feng Luzhao:

Thank you, moderator. Now I will respond to some questions raised by netizens.

First, some people wear masks with breathing valves. Some people think that wearing such masks for suspected or confirmed patients will cause risks to the surrounding population. Is it true? It is true that the exhalation valve of the respirator is a one-way valve. When exhaling, the positive pressure of the exhaled gas will blow the valve piece open, and the exhaled gas will be quickly discharged. There is no filter layer in the exhaust process. If the patient wears this kind of respirator, the virus may be discharged, so the confirmed and suspected patients should not wear this kind of respirator.

Second, novel coronavirus pneumonia is novel coronavirus isolated from stool samples of new crown pneumonia patients recently. What risks should the public take to protect their own toilets? At present, the main route of transmission of new coronavirus is respiratory droplets and contact transmission. The novel coronavirus induced novel coronavirus pneumonia is a new infectious disease. Our understanding of it is a process of continuous improvement. We will also pay close attention to the research progress of the transmission of new crown pneumonia, and update and improve the prevention and control strategies and personal protective measures in time. For the general public, wash hands carefully after defecation. If there is no confirmed patient, asymptomatic infected person or close contact person at home, the bathroom can be cleaned generally. If there are close contacts at home, it is better to use a separate toilet for close contacts. If there is no condition, you can use chlorine containing disinfectant such as 84 disinfectant to clean the toilet every day, and use disinfectant to wipe the buttons, ring pads, interior of the toilet, and toilet door handles, which are easy to touch. Develop good hygiene habits, wash hands, disinfect and clean frequently, cook food before eating, pay attention to personal and family health, which can effectively prevent the spread of many intestinal infectious diseases.

The third question is whether you need to disinfect your mobile phone every time you go out and come back. A lot of people are very concerned about this issue. Mobile phones are an object that we have high-frequency contact with. We really need to strengthen their cleaning and disinfection. It is recommended to turn off the power of the mobile phone after going out and returning home every time. After the mobile phone cools down completely, dip an appropriate amount of 75% alcohol or use a disinfectant product that does not damage the electronic products, including wiping the surface of the mobile phone with a disinfectant paper towel, and do a good job in hand hygiene. If the mobile phone is not used after going out, it is unnecessary to disinfect the surface of the mobile phone.

The fourth question, a netizen asked and patients in the incubation period sharing laundry opportunities will not be infected? As mentioned just now, according to the current understanding of the disease, the main mode of transmission of the new coronavirus is the patients respiratory droplets transmission and contact transmission. Incubation period refers to the fact that there are no symptoms, fever or cough after infection. Whether there is infectivity during this period has always been a concern. At present, domestic and foreign investigations indicate that the incubation period is more likely to be infectious, which needs to be further confirmed, but the possibility of virus transmission through shared washing machines is very small. You can rest assured. Moderator: tomorrows press conference will continue to be held at the same time and place. You are welcome to continue to pay attention. You can send us your concerns in advance. This concludes todays press conference. Thank you. Source: editor in charge of Chinanet: Zhong Qiming

The fourth question, a netizen asked and patients in the incubation period sharing laundry opportunities will not be infected? As mentioned just now, according to the current understanding of the disease, the main mode of transmission of the new coronavirus is the patients respiratory droplets transmission and contact transmission. Incubation period refers to the fact that there are no symptoms, fever or cough after infection. Whether there is infectivity during this period has always been a concern. At present, domestic and foreign investigations indicate that the incubation period is more likely to be infectious, which needs to be further confirmed, but the possibility of virus transmission through shared washing machines is very small. You can rest assured.

Host:

Tomorrows press conference will continue to be held at the same time and place. You are welcome to continue to pay attention to it. You can send us your concerns in advance.

This concludes todays press conference. Thank you.