China CITIC Bank Releases "Star Plan" to Help the Private Economy Provide "CITIC Plan" for the Development of the Private Economy

As an important part of the real economy, the private economy has played an active role in stabilizing growth, promoting innovation, increasing employment, and improving people's livelihood. In order to further attract financial "living water" to irrigate the private economy, China CITIC Bank has launched a new "Star Plan" to help the private economy, with the goal of establishing and improving the long-term mechanism of financial services for private enterprises, and helping private enterprises to enhance their market competitiveness, and continue to strengthen service upgrading and model innovation for private enterprises, so as to help private enterprises develop and grow.

Gather experts from industry, academia and research to discuss new ideas to help the development of private enterprises

Recently, China CITIC Bank and Xinhuanet jointly created the column "CITIC Bank's New Discussion on Private Economic Credit", inviting private enterprises and a group of industry, academia and research experts to focus on how finance can help private enterprises innovate in science and technology, develop new quality productivity, how to meet the growing compound financial needs of green enterprises, and how to help private enterprises "sail to the sea", and jointly explore the new path and new direction of financial institutions to help the development of private economy.

In the program, Mr. Wang Zecai, a researcher at the Chinese Academy of Fiscal Sciences, said: "The biggest test facing private enterprises today is still to strengthen their competitiveness through scientific and technological innovation. The more at such a critical moment, the more we need to increase R&D investment, we must continue to strengthen our competitiveness in R&D, so that enterprises can have the possibility of sustainable development, financial institutions should understand the changes of private enterprises, and form some long-term product support, so that private enterprises will be more assured to do scientific and technological innovation. ”

Mr. Li Zhiqi, Vice Chairman of the Beijing Federation of Industry and Commerce and Chairman of the Revitalization International Think Tank, said: "For financial institutions themselves, financial technology also needs to further increase investment, and it is necessary to rely more on artificial intelligence and big data technology to complete the description and portrayal of projects, and further strengthen scientific and technological means, so that financial technology will be more efficient and can truly 'quench the thirst' of private enterprises." ”

It is reported that in order to help private enterprises in scientific and technological innovation and stimulate the endogenous power of private enterprises, China CITIC Bank has helped the private economy to launch the "Star Plan" to fully launch the science and technology finance business, build an agile organization that serves the headquarters and branches of private technology enterprises, and take innovative products such as China CITIC Bank scorecard approval, science and technology talent loan, listing relay loan, equity incentive financing, and personal credit loan for science and technology enterprises as the core, and accurately support private technology enterprises at different stages to improve the credit availability of private technology enterprises.

With the "Star Plan" as a medium, we will help private enterprises develop new quality productivity

Since the beginning of this year, many places and departments have listed "promoting the development of the private economy" as one of the key development tasks in 2024, and have made new, real, and hard moves to accelerate the release of the development potential of private enterprises. Of course, the private economy still faces many challenges in its rapid development, such as difficult and expensive financing, imperfect regional supporting industrial chains, and the long-term effectiveness of financial transfusion.

To this end, China CITIC Bank has launched three key measures to help the private economy in the "Star Plan", including "deepening the five tracks, implementing the three major assistance systems, and practicing one major assistance action", in order to provide all-round and multi-level service solutions for private enterprises, and continue to explore financial services that are in line with the business rules, production cycle and industry characteristics of private enterprises, so as to comprehensively improve the quality and efficiency of financial services for private enterprises.

"Deeply cultivating the five tracks" refers to doing a good job in inclusive finance and improving the financial service capabilities of small and micro enterprises; Strengthen science and technology innovation finance, focusing on building a professional and sustainable science and technology financial system; Give priority to the manufacturing industry and give priority to the allocation of credit resources for the advanced manufacturing industry; Deepen supply chain finance and actively build a supply chain finance ecosystem; Expand cross-border finance, and comprehensively help small and medium-sized foreign trade private enterprises to enhance their international competitiveness.

The core of the "three major assistance systems" is to effectively solve the pain points and difficulties in the operation of private enterprises. Among them, the first major assistance system focuses on the three key points of financing cost reduction, operation quality and efficiency, and development acceleration, and continues to provide "blood transfusion" for private enterprises, including expanding product supply, covering the multi-level financing needs of enterprises, deepening the "CITIC Great Synergy" model, providing financial and non-financial comprehensive services for private enterprises, and creating a full chain of "domestic trade + import and export trade + offshore trade" services to support foreign trade private enterprises to carry out cross-border trade.

In the implementation path, China CITIC Bank will focus on the model of "one chain, one policy, one batch", with the "chain master" enterprises as the core, to serve the financing needs of the upstream and downstream private enterprises of the chain master enterprises, and benefit the small, medium and micro private enterprises on the chain.

The third major assistance system is connected to the surface, comprehensively helping the coordinated development of the private economy in the region. At present, China CITIC Bank has completed the service mechanism of "regional synergy", adhering to the concept of "one CITIC, one customer", deepening the three collaborative service ecosystems of financial cooperation, industry-finance linkage and think tank collaboration, and providing comprehensive financial services to private enterprises.

At the same time, the "Star Plan" actively practices the action of helping the private economy to "enter 10,000 enterprises", and truly delivers policies and services to private enterprises by entering small and micro private enterprises, entering "specialized, special and new" small giants, entering characteristic industrial chain clusters, entering science and technology enterprises and industrial parks, entering "chain master" enterprises, and entering foreign trade private enterprises, so as to truly deliver policies and services to people, and ensure that preferential policies and financial services effectively reach private enterprises.

Face to face with enterprises to explore the new direction of symbiotic development between banks and enterprises

At the scene of the "CITIC Bank's New Discussion on Private Economic Credit", China CITIC Bank invited representatives of first-line private enterprises such as Jomu Group and Hebei Zhikun Precision Transmission Technology Co., Ltd. (hereinafter referred to as "Zhikun Technology") to conduct in-depth discussions on how banks and enterprises can coexist and grow together. In this regard, Mr. Liu Zepeng, Chief Financial Officer of Zhikun Technology, said, "The series of support measures of China CITIC Bank can not only efficiently meet the core capital needs, but also allow Zhikun Technology to connect with more resources that were previously difficult to reach, thereby promoting the rapid development of the overall business. ”

Ms. Yang Qiaofeng, Chief Financial Officer of JOMOO Group, said, "For JOMOO Group, the core demand is supply chain finance, and the ideal state is to be able to benefit upstream and downstream enterprises with their own credit, so as to make it easier for them to obtain financing in financial institutions, and through the cooperation with China CITIC Bank, this idea will become a reality." ”

It is reported that China CITIC Bank has tailored a variety of comprehensive service solutions for transaction banking products for Jomu Group in terms of upstream supplier financing services, including China Enterprise Cloud Chain Factoring Financing, Credit Commercial Bills, Supply Chain Bill Financing, etc.; For downstream dealers, China CITIC Bank has given a certain loan amount according to the first-level dealers recommended by JOMOO Group and their historical transaction data, and launched a distribution e-loan product based on the inclusive data model, so as to help enterprises achieve the stability of the supply chain and industrial chain.

It is worth noting that China CITIC Bank's "Star Plan" to help the private economy will continue to contribute to "CITIC Value" in terms of innovating technology, achieving the dual carbon goals, expanding new quality productivity, and helping private enterprises "go global".

The private economy is a new force to promote Chinese-style modernization and an important foundation for high-quality development. In the future, China CITIC Bank will further play a good "combination punch" and launch "hard measures" to empower the high-quality development of the private economy, achieve new and far-reaching private enterprise partners, help thousands of "stars", and gather bright stars!