"Guangdong Province Issues Several Measures to Support the Development of Individual Business Owners"

The Guangdong Provincial Development and Reform Commission issued the “Several Measures of Guangdong Province to Support the Development of Individual Industrial and Commercial Households.” Among other points, it proposes supporting banking institutions in establishing efficient online docking channels with individual industrial and commercial households. Leveraging the Yuexinfu platform “Yuexin Huishang (Individual Industrial and Commercial Households Section)” and other financing credit service platforms in the province, and in accordance with laws and regulations, shared government affairs data will be made available to banking institutions. Banking institutions are encouraged to build intelligent assessment and risk-control models based on features such as the credit risk tier of individual industrial and commercial households and the results of their risk segmentation and classification, and to innovate and develop dedicated credit products. Promote models such as “borrow and repay as needed” and “renewal of loans without principal repayment,” to better match credit terms with business cycles and meet the short-term and seasonal working-capital needs of individual industrial and commercial households. Advance the “Xinghuo Loan” inclusive finance service special campaign. Under the principles of risk pricing and ensuring returns cover costs, reasonably determine loan interest rates and expand credit disbursement to individual industrial and commercial households. For financing guarantee businesses of eligible individual industrial and commercial households, provide guarantee-fee subsidies and compensation for claims. Guide banking institutions to provide integrated financial services to individual industrial and commercial households, such as clearing and settlement, wage disbursement, letters of guarantee, and factoring. (People Finance News)