Data speaks: Tianjin’s financial services will comprehensively improve the quality and efficiency of the real economy in 2023

Recently, Tianjin announced the operation of financial work in 2023. All financial data have maintained a high level, handing over a “report card” of financial support for the real economy.

Data show that the scale of social financing in Tianjin has achieved a historic breakthrough, with the stock scale reaching 7.23 trillion yuan, a year-on-year increase of 9.6%, and the incremental scale hitting a record high; the growth rate of deposits continues to be higher than the national average, direct financing has accelerated development, and financial leasing The business remains a national leader; the city’s scientific and technological enterprise loan balance exceeded 230 billion yuan, a year-on-year increase of 30%, the specialized and special new enterprise loan balance was 78 billion yuan, an increase of nearly 90% from the beginning of the year, and the city’s inclusive small and micro enterprise loan balance was 174.7 billion yuan , a year-on-year increase of 28.9%; the city’s agricultural-related loan balance was 292.3 billion yuan, a year-on-year increase of 8.1%; the real economy’s financing costs continued to decline, and residents’ mortgage interest burdens were significantly reduced.

Taken together, Tianjin’s financial services capability and level in serving the real economy have been comprehensively improved, providing strong support and guarantee for the city’s high-quality economic development.

　　1. Expand the scale of financing through multiple channels to effectively support high-quality economic development

Guide financial institutions across the city to make full use of various financial policies and enterprise-friendly policies, mobilize various financial resources, increase investment in financial factors, stimulate financial development vitality, and support high-quality economic development with high-quality financial supply.

　　(1) The scale of social financing achieved a historic breakthrough.Continue to strengthen the connection between supply and demand, unblock capital investment channels, improve capital utilization efficiency, and promote the expansion of financial supply. As of the end of 2023, the city’s social financing scale stock was 7.23 trillion yuan, a year-on-year increase of 9.6%, and the growth rate was 4.7 percentage points higher than the end of the previous year; the annual social financing scale increased by 541.7 billion yuan, a record high, of which corporate bond net financing was 367 billion, a year-on-year increase of 6.3 billion yuan.

　　(2) The growth rate of deposits continues to be higher than the national average, and the growth of loans is significantly better than that of the previous year.As of the end of 2023, the city’s various deposit balances were 4.45 trillion yuan, a year-on-year increase of 9.9%, higher than the national average growth rate; the city’s loan balance was 4.48 trillion yuan, a year-on-year increase of 5.1%, an increase of 1.6 percentage points from the end of the previous year. From January to December, the city’s average monthly growth rate of deposits and loans was 8.7%, an increase of 2.7 percentage points from the previous year and a new high since 2017.

　　(3) Strengthen the use of monetary policy tools.Strengthen the use of various monetary policy tools to accurately support the financing needs of the real economy. In 2023, the city’s financial institutions received a total of 121.4 billion yuan in funds from various monetary policy tools, leveraging the issuance of 272.2 billion yuan in loans in related fields, benefiting nearly 370,000 market entities. Among them, the total amount of re-loans and re-discounts to support agriculture and small businesses is 101.6 billion yuan. The utilization rate of re-loans to support small businesses remains above 99%, which is at the forefront of the country. The re-discount turnover rate reaches 275%, an increase of 34 percentage points from the previous year; 100 are listed separately. The re-loan quota of 100 million yuan gave priority to supporting the credit extension of the manufacturing industry. A total of 8.9 billion yuan was disbursed that year, fully meeting the re-loan needs of relevant banks in the manufacturing sector.

　　(4) Accelerate the development of direct financing.Extensively carry out bond financing business counseling and training, promote in-depth connection between banks and enterprises, and steadily expand the scale of bond issuance. In 2023, the city’s non-financial enterprises issued bonds to raise 623.39 billion yuan, a year-on-year increase of 26.4%, accounting for 4.36% of the country’s total, an increase of 0.79 percentage points from the previous year; financial institutions issued bonds of 36 billion yuan. Actively promote the use of innovative products in the bond market, issue intellectual property asset-backed notes for private technological innovation enterprises, and support 8 small and medium-sized technological innovation enterprises in packaging more than 50 invention patents for securitization financing, with a comprehensive financing cost of less than 1.6%.

　　(5) Actively promote the listing of enterprises.The “Three-year Doubling Action Plan for Listed Enterprises in Tianjin (2023-2025)” was issued and implemented, and the construction of the “three batches” of listing reserve reserves was continued. In 2023, there will be 5 new listed companies in the city, bringing the total number of domestic and overseas listed companies to 93. 7 new companies have been submitted to the exchange for review, and 13 companies have been mentored by the China Securities Regulatory Bureau. There are currently 5 companies under review and 29 companies are mentored; 5 new companies have been listed on the New OTC Market, bringing the total number of listed companies to 122.

　　(6) Give full play to leasing, commercial factoring, and financing guarantee functions.Through the issuance of support policies, regulatory rating guidance and other measures, local financial organizations are guided to find their correct positioning, return to their roots, and deepen their main businesses. The leasing business of aircraft, ships, and offshore engineering platforms maintains a leading position in the country. As of the end of 2023, Dongjiang has completed the leasing and disposal business of 2,228 aircraft, 673 ships, and 77 offshore engineering platforms. The construction of a world-class ship leasing center has accelerated. , the advantage of being the world’s second largest aircraft leasing hub has been further consolidated. The total commercial factoring assets are 298.3 billion yuan, and the balance of factoring financing is 252.4 billion yuan, ranking first in the country. The balance of financing guarantees on guarantee is 37.7 billion yuan, the number of insured households is 3.076 million, the magnification is 3.06 times, the average guarantee rate is about 0.8%, and some institutions are exempt from guarantee fees.

　　2. Continuously optimize the allocation of financial resources and accurately support the development of key areas of the real economy

In 2023, the city’s financial system will focus on key areas of the real economy, innovate and improve financial service mechanisms, models and products, increase capital investment, and provide higher quality and more efficient financial services for the real economy.

　　(1) Serve science and education to revitalize the city and strengthen the city with talents.Promoted 108 financial institutions to sign contracts with Tiankai Park. With Haihe Industrial Fund as a link, more than 50 investment institutions such as SMIC Juyuan and Shenzhen Venture Capital have gathered to form the Tiankai Fund Group. 13 companies have received investments exceeding 100 million yuan. Promote 15 financial institutions including the Industrial and Commercial Bank of China to set up 23 specialized institutions specializing in science and technology finance to provide targeted investment and financing services to technology-based enterprises. Carry out a special action of “Specialized, Specialized and New” financial services, create and promote the “Technology Innovation Rongbei·Jinxinrong” service code, establish a “Tianjin Science and Technology Innovation Enterprise White List” covering 16,000 enterprises, and organize financial institutions to identify financing needs , providing “five specialized” services and adding 3,787 first-time mortgage households. As of the end of 2023, the city’s scientific and technological enterprise loan balance exceeded 230 billion yuan, a year-on-year increase of 30%; the specialized, specialized and new enterprise loan balance was 78 billion yuan, an increase of nearly 90% from the beginning of the year.

　　(2) High-quality development of service manufacturing industry.Organize and implement version 3.0 of the development of key industry chains in financial services, and establish a “host bank” system for banks in key industry chains and a “host department” system for insurance. As of the end of September 2023, the loan balance of enterprises in 12 key industry chains was 143.58 billion yuan, a year-on-year increase of 51.9% . Optimizing and improving the re-loan and re-discount model to support the manufacturing industry. In 2023, the city’s re-loan and re-discount funds invested in the manufacturing industry were 22.21 billion yuan, a year-on-year increase of 43.2%, accounting for 21.9% of the total, and a year-on-year increase of 2.2 percentage points. The “three loans” promotion action for first loans, medium and long-term loans, and credit loans has been carried out. As of the end of 2023, the city’s manufacturing loan balance was 359.78 billion yuan, a year-on-year increase of 13.9%, which was 8.8 percentage points higher than the growth rate of various loans. Giving full play to the leading role of Haihe Industrial Fund in the construction of industrial systems, as of the end of 2023, Haihe Industrial Fund has deployed key industrial chains such as innovation and biomedicine, and has realized reinvestment in 280 projects, with actual investment of 181.77 billion yuan in projects.

　　(3) Serving green and low-carbon development.It was approved to build the country’s first green leasing service process pilot area, promoting the Dongjiang Comprehensive Bonded Zone to introduce the country’s first green evaluation mechanism for financial leasing and implement the country’s first standardized business. This mechanism was selected as the best practice for the comprehensive pilot demonstration construction of the national service industry to expand opening up. cases and national outstanding credit cases. The country’s first financial implementation guide for the transformation of key industries in the chemical industry was released, and the demonstration and driving effect of green financial innovation continues to appear. As of the end of 2023, the city’s green loan balance exceeded 600 billion yuan, a year-on-year increase of more than 20%; 47 green bonds were issued throughout the year, raising funds of 27.1 billion yuan, accounting for 4.35% of the city’s bond scale, 0.74 percentage points higher than the national average; The city’s green leasing assets exceed 440 billion yuan, ranking first in the country.

　　(4) Serve the integrated development of port, industry and city.The “Work Plan for the Innovative Development of Shipping Finance” and the “Implementation Rules of Tianjin Encouraging the Development of Shipping Finance” were issued. Tianjin’s shipping finance indicators ranked fourth in the country and first in the north. A list of 734 enterprises suitable for port was released. It is expected that the loan balance of enterprises suitable for port will be at the end of 2023. Reaching 450 billion yuan, accounting for about one-tenth of the city’s loan balance. The Tianjin Shipping Insurance Information Service Platform has been launched online to realize the sharing and interoperability of ship insurance claims data. As of the end of 2023, the city’s ship insurance premium income was 270 million yuan, a year-on-year increase of 32.9%. Increase the intensity of cross-border trade in financial services. As of the end of 2023, the balance of on-balance sheet trade financing of the city’s financial institutions was 325.42 billion yuan, a year-on-year increase of 28.8%; export credit insurance has cumulatively underwritten and supported more than 3,800 foreign trade companies, and the penetration rate of the city’s foreign trade exports reached 28.5 %, exceeding the national average.

　　(5) Revitalization of existing service assets.Making good use of the major project financing docking service mechanism, financial institutions will provide 22.7 billion yuan in financing for asset revitalization projects in 2023. Promote CITIC Group to leverage the comprehensive financial service capabilities of its subsidiaries to carry out asset reorganization and management reorganization of the Baodi urban village reconstruction project and some existing real estate late-stage projects, with a scale of 2 billion yuan, to achieve the divestiture and revitalization of inefficient assets and create a demonstration effect.

　　3. Continue to improve the inclusiveness of financial services and firmly implement the concept of finance for the people

We will firmly and vigorously implement the development concept of “finance for the people”, take people’s livelihood needs as the guidance of private enterprises, take multiple measures, and build a “combination of finance for the people” to make financial services warmer and more relevant to the people.

　　(1) Improve the quality and efficiency of financial services private enterprises.The “Work Plan on Further Strengthening Financial Support for the Development of Private Small and Micro Enterprises” was issued and implemented to enhance the long-term mechanism construction of financial institutions that “dare to lend, are willing to lend, are able to lend, and will lend”. As of the end of 2023, the city’s private enterprise loan balance was 792.7 billion yuan, a year-on-year increase of 8.7%, an increase of 5.1 percentage points from the end of the previous year, accounting for 26.8% of all enterprise loan balances; the city’s inclusive small and micro enterprise loan balance was 174.7 billion yuan, a year-on-year increase of 28.9 %, of which credit loans increased by 36.8% year-on-year.

　　(2) Strengthen financial support for rural revitalization.We issued and implemented the “Work Plan on Further Financial Support and Services for Rural Revitalization”, focusing on improving the financial service system for rural revitalization, guiding financial institutions to deepen their efforts in the field of rural revitalization, and building more than 3,700 “Yunongtong” inclusive financial service points, basically realizing basic financial services. “Connecting every village”. As of the end of 2023, the city’s agricultural-related loan balance was 292.3 billion yuan, a year-on-year increase of 8.1%, of which agricultural, rural, and farmer household loans increased by 14.6%, 10.8%, and 10.1% respectively.

　　(3) Financing costs for the real economy continue to decline.Continue to implement the financial “fee reduction and profit sharing” support policy to fully unleash the effectiveness of LPR reform. From January to December 2023, the average interest rate of newly issued corporate loans in the city was 4.09%, a year-on-year decrease of 0.25 percentage points, and a decrease of 1.15 percentage points compared with before the LPR reform. Calculated based on the scale of newly issued loans in 2023, the profits granted to enterprises before the LPR reform exceeded 10 billion yuan; among which, the weighted average interest rate of newly issued inclusive small and micro loans was 5.14%, a year-on-year decrease of 0.30 percentage points. The weighted average interest rate for bonds issued by non-financial enterprises in the city in the inter-bank market was 4.85%, a decrease of 1.33 percentage points from the first half of the year. Financial institutions were guided to continue to improve payment and settlement services and consolidate the effectiveness of the payment fee reduction policy. The cumulative fee reduction exceeded 800 million yuan, benefiting 2 million small and micro market entities.

　　(4) Residents’ mortgage interest burden has been significantly reduced.We will optimize and adjust differentiated housing credit policies in a steady and orderly manner to better support residents’ rigid and improved housing needs. From January to November 2023, the average interest rate of newly issued residential housing loans was 3.98%, a decrease of 0.56 percentage points year-on-year; by the end of November, the average interest rate of existing residential housing loans in the city was 4.12%, a decrease of 0.43 percentage points from the end of the previous year. Through the implementation of the policy of lowering the interest rates of existing first-home housing loans, financial institutions lowered the interest rates of existing housing loans by about 40 basis points on average, and provided nearly 300 million yuan in profits to residents that year.

　　4. Actively and steadily promote financial reform and innovation to better serve major regional development strategies

In line with the functional positioning of Tianjin’s “one base and three districts” by the Party Central Committee and the State Council, we will accelerate the construction of financial innovation operation demonstration zones, serve major national strategies, and fully implement various financial reform and innovation policies.

　　(1) Serve the coordinated development of Beijing, Tianjin and Hebei in a deep and solid manner.Actively strive for high-quality financial resources and facilitate 10 financial institution headquarters to sign contracts with our city. The number of contracted institutions and the amount of support are both the highest in history. Financial services for key projects have been strengthened, and nearly 30 banking institutions have been promoted to conduct precise docking of more than 800 projects. The city’s banks have supported the coordinated development of Beijing, Tianjin and Hebei with a financing balance of more than 600 billion yuan.

　　(2) Deepen institutional innovation in the pilot free trade zones.Continue to deepen FT account application functions and product innovation. As of the end of 2023, a total of 1,271 FT main accounts have been opened, with fund settlement exceeding 880 billion yuan, and 27 full-functional fund pools gathering funds exceeding 30 billion yuan. There will be a total of 21 companies in 2023 Over 1.4 billion yuan was invested in Tianjin using FTN accounts. Implement version 3.0 of the cross-border RMB facilitation plan to further lower the access threshold for high-quality enterprises, simplify the access process for high-quality enterprises, optimize the post-spot inspection method, and expand the coverage of facilitation policies. By the end of 2023, the city’s cross-border RMB settlement volume has reached 389.8 billion yuan. , a year-on-year increase of 14%, and the current account cross-border RMB settlement volume was 236.4 billion yuan, a year-on-year increase of 24%. In 2023, 28 financial innovation cases in the Pilot Free Trade Zone will be released, bringing the total to 153, including 30 of the first cases in the country. The “movable property pledge financing business model” was selected into the seventh batch of reform pilot experiences in the Pilot Free Trade Zone of the State Council and will be replicated and promoted nationwide. .

　　(3) Promote innovative application and promotion of business pilot projects.Solidly carry out regional equity market system and business innovation pilots. As of the end of 2023, a total of 44 companies have entered the “key reserve” batch and 97 companies have entered the “reserve cultivation” batch. Lonnuo Pet, Xuner Technology, and Gamete have passed The “green channel review mechanism” has enabled listing on the New Third Board; the “Specialized, Specialized, Special and New” special board construction plan has been registered with the China Securities Regulatory Commission, and 252 companies have been cultivated on the board. The digital renminbi pilot program has been promoted in an orderly manner, and a number of innovative application scenarios such as highways and innovative point-based loans have been implemented. As of the end of 2023, the city’s 8 pilot banks have supported a total of 424,000 merchants, 23.74 million transactions, and 18.54 billion yuan, an increase of 200 yuan respectively. %, 180% and 138%.

　　(4) Promote the development of financial digital transformation.The Zhongzheng Accounts Receivable Financing Service Platform functions as a national financial infrastructure. Throughout the year, the platform facilitated 87,000 financings worth 2.8 trillion yuan, an increase of 12.4% and 4.9% respectively; it facilitated more than 8,800 government procurement financings worth 17.06 billion yuan. Yuan, an increase of 79.9% and 78.8% respectively. To build the “Jinxinrong” digital financial service brand, as of the end of 2023, the platform has successfully served more than 23,000 enterprises, with a cumulative credit amount of 64 billion yuan. To give full play to the service efficiency of the “Smart Tong” financial platform, as of the end of 2023, 446,000 small and micro merchants have settled on the platform in Tianjin, and a total of 1.409 million loan-and-repay credit loans of 19.62 billion yuan have been provided to 289,000 individual industrial and commercial households.

In the next step, the city’s financial system will conscientiously implement the important speeches delivered by General Secretary Xi Jinping at the Central Financial Work Conference and the opening ceremony of the special seminar on promoting high-quality financial development for provincial and ministerial leading cadres on January 16, and deeply grasp the importance of financial work. Political and people-oriented, adhere to the general tone of the work of seeking progress while maintaining stability, deepen the structural reform of the financial supply side, promote the organic combination of revitalizing the stock, cultivating the increase and improving the quality, focus on the “Ten Actions” of high-quality development, and strive to do a good job “Five major articles” and “two special articles” better serve technological innovation, industrial renewal and urban renewal, and demonstrate financial responsibility and contribute financial strength in promoting high-quality economic development of the city.

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