Recently, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, and the All-China Federation of Industry and Commerce jointly issued the "Notice on Strengthening Financial Support Measures to Help the Development and Growth of the Private Economy" (hereinafter referred to as the "Notice"), proposing 25 specific measures to support the private economy.

The "Notice" clearly defines the goals and priorities of financial services for private enterprises. In terms of total volume, it aims to increase the intensity of financial support for private enterprises by formulating annual service targets for private enterprises and increasing the weight of relevant services for private enterprises in performance assessments, gradually increasing the proportion of loans to private enterprises. In terms of structure, it emphasizes increasing support for key areas such as technological innovation, specialization, green and low-carbon initiatives, and the reconstruction of industrial foundations, as well as support for small and medium-sized private enterprises.

The "Notice" emphasizes the need to cater to the financing needs of private enterprises by focusing on facilitating diverse financing channels such as credit, bonds, and equity. Banking and financial institutions are urged to increase support for initial loans and credit loans, actively promote industrial chain and supply chain financial services, actively provide follow-up funding services for private enterprises, and avoid blindly suspending, squeezing, withdrawing, or cutting off loans while balancing development promotion and risk prevention. It suggests optimizing the registration mechanism for debt financing tools for private enterprises, fully utilizing the role of bond financing support tools, and expanding the scale of bond financing for private enterprises. It encourages institutional investors to reasonably and actively allocate investment in private enterprise bonds and increase investment in private enterprise bonds. The document supports the financing and restructuring of private enterprises, encourages the support role of regional equity markets and equity investment funds for private enterprises, and expands the scale of high-quality private enterprise equity financing. It also aims to facilitate foreign exchange through policies that enhance the ease of current account transactions, improve facilitation policies for cross-border investment and financing, and optimize specialized cross-border financial services, supporting both the "going out" and "bringing in" of private enterprises.

The "Notice" proposes comprehensive measures, including monetary policy tools, fiscal incentives, and insurance guarantees, to enhance the enthusiasm of financial institutions in serving the private economy. It emphasizes inter-departmental cooperation, improving credit information sharing, financing guarantee mechanisms, facilitating discounting of bills, confirming receivables, tax policies, and other supporting policies and mechanisms to strengthen the financial capacity of the private economy. Financial institutions are urged to enhance publicity and interpretation, actively disseminating information on financial support policies, products, and services to private enterprises. Local financial management, development and reform, industry and information technology, fiscal and taxation, and industrial and commercial federations are required to strengthen communication and coordination, enhance supervision and guidance, and improve policy effectiveness.