Office of the National Financial Supervision and Administration, General Office on Doing a Good Job in Financial Services for Small and Micro Enterprises in 2025 Notice

Financial regulatory bureaus, policy banks, large banks, joint-stock banks, foreign banks, direct banks, insurance companies:

To fully implement the spirit of the 20th National Congress of the Communist Party of China and the second and third plenary sessions of the 20th Central Committee, to thoroughly implement the deployment of the Central Economic Work Conference and the national financial system work conference, to guide financial institutions to do a good job in inclusive finance and improve the quality and efficiency of financial services for small and micro enterprises, and to help achieve the expected goals of economic and social development for the whole year, with the consent of the Financial Regulatory General Bureau, the following notice is given on the relevant work matters:

I. General Requirements

Adhere to the overall tone of steady progress, firmly grasp the political and people-oriented nature of financial work, deepen the coordination mechanism for supporting small and micro enterprises' financing, enhance the service efficiency of financial institutions, and strive to achieve \quantity maintenance, quality improvement, price stability, and optimized structure\ in financial services for small and micro enterprises, helping to stabilize expectations, stimulate vitality, and promote sustained economic recovery and improvement.

II. Deepen the support mechanism for coordinated financing efforts for small and micro enterprises.

(I) Promote the deepening and solidification of the working mechanism.All levels of dispatched institutions should continue to deepen central-local collaboration, enhance the efficiency of the \four-level vertical management,\ and work in concert with district and county work mechanisms to improve the quality of enterprise screening and selection, promoting the resolution of operational difficulties and issues faced by small and micro enterprises. Banking financial institutions should leverage their professional advantages, actively participate in all stages of the work mechanism, improve internal supporting mechanisms, accurately match financing needs, and ensure that credit funds reach the grassroots level directly, quickly, and at a suitable interest rate.

(II) Highlight financial support in key areas.All levels of dispatched institutions should further leverage the role of work mechanisms to promote the inclination of support and assistance resources towards small and micro enterprises in foreign trade, private, technology, and consumer fields. Banking financial institutions should adhere to the principle of \unswervingly supporting both the public and private sectors,\ and conduct credit business for private and small and micro enterprises fairly and accurately, supporting the growth and development of enterprises. Strengthen support for small and micro foreign trade enterprises, relying on import and export trade scenarios and data elements such as orders and logistics, to enhance credit assessment and financial service levels, and promote stable foreign trade and growth. Focus on cultivating and developing new quality productive forces, enrich and improve financial products, and provide diversified relay-style financial services for the specialized, refined, and innovative development of small and micro enterprises, as well as technological innovation. Enhance financial support for small and micro enterprises and individual businesses in the fields of accommodation, catering, culture and tourism, as well as new scenarios and new business forms in consumption, to help expand domestic demand and promote consumption.

Three, Maintain Effective Supply of Credit to Small and Micro Enterprises

(III) Maintain stable growth in credit.Banking financial institutions should focus on the genuine and effective operational capital needs of small and micro enterprises, provide adequate credit supply, and strive to achieve a growth rate of inclusive small and micro enterprise loans that is not lower than the growth rate of all loans. Large commercial banks and joint-stock banks should strive to achieve a growth rate of inclusive small and micro enterprise loans that is not lower than the growth rate of all loans. Each financial regulatory bureau should supervise the local legal person banks to strive for an overall growth rate of inclusive small and micro enterprise loans that is not lower than the growth rate of all loans. For areas and institutions with relatively heavy tasks such as reform and risk resolution, differentiated arrangements can be implemented.

(IV) Reasonably determine credit pricing.Banking financial institutions should strengthen loan pricing management, and based on the loan market quotation rate (LPR), their own funding costs, and the characteristics, risk status of small and micro enterprise customer groups, scientifically and reasonably determine the interest rate level of inclusive small and micro enterprise loans, and enhance the sustainability of business development. Deepen the application of financial technology, strengthen the construction of a specialized system, improve the level of centralized business management, increase risk control efficiency, and reduce operational costs. Standardize cooperation with third parties, enhance independent service capabilities, improve customer reach, shorten the financing chain, and reduce the comprehensive financing costs actually borne by small and micro enterprises.

IV. Continuously Improve the Quality of Credit Services for Small and Micro Enterprises

(V) Improve the incentive and restraint mechanism.Banking financial institutions should strengthen the internal resource support for small and micro financial services, maintaining a consistent level of support in terms of credit scale allocation, performance assessment, salary expenses, and internal funds transfer pricing. Based on the growth of credit scale, risk management, and business development needs, optimize the organizational structure of the small and micro finance line in a timely manner, and strengthen the allocation of personnel. Implement the policy of exemption from liability for due diligence, refine the situations of exemption from liability, establish a clear mechanism for exemption from liability and channels for objections and appeals, improve work efficiency, and strive to achieve \exempt as much as possible\.

Banking financial institutions should focus on discovering and nurturing first-time borrowers, reasonably shift their service focus downwards, and increase the financing coverage of active small and micro business entities. Strengthen the implementation of loan renewal policies, optimize the loan renewal process, and improve the loan renewal management mechanism. Optimize the credit structure, and do a good job in credit loans and medium to long-term loan distribution, and enhance services for small and micro enterprise legal entities. Around the increasingly diversified financial needs of small and micro business entities, deepen the \credit +\ service model, provide comprehensive services such as payment settlement, financial consultation, and exchange rate hedging, and improve the level of refined and differentiated services.

Five, deeply exert the role of insurance protection.

(7) Strengthen the construction of internal mechanisms.Insurance companies need to strengthen the top-level design and strategic planning for small and micro enterprise insurance business, with the board of directors and management regularly studying the development of the business and clarifying the specific departments to lead and coordinate the progress. Enhance the insurance statistics for small and micro enterprises and individual industrial and commercial households, improve the accuracy of customer information collection and identification, establish and perfect internal databases, and consolidate the foundation of data statistics. Improve the risk assessment mechanism, scientifically formulate insurance terms, reasonably determine insurance rates, and promote insurance products to better meet the actual needs of small and micro enterprises and individual industrial and commercial households.

(VIII) Enrich insurance product services.Insurance companies should actively develop and promote property insurance, liability insurance, export credit insurance, and other products that meet the needs of small and micro business operators, enhancing the risk prevention capabilities of small and micro enterprises and individual industrial and commercial households in production and operation, technological innovation, sudden disasters, and cargo transportation. Develop accident insurance, health insurance, and term life insurance products suitable for employees of small and micro enterprises and individual industrial and commercial households. Develop commercial pension insurance products suitable for various flexible employment personnel. Support insurance companies to provide exclusive insurance and services to small and micro business operators in specific risk areas under the premise of controllable risk. Improve the digital service level of small and micro business operators, further enhance the service efficiency and online degree in the links of consultation, underwriting, and claims, appropriately simplify the underwriting procedures and material requirements, and improve the timeliness of claims.

Six, forming a good ecosystem for financial services for small and micro enterprises.

(IX) Standardize business operations.Financial institutions should align their unique characteristics to accurately identify their business positioning, explore sustainable financial service models for small and micro enterprises, avoid disorderly competition, and form a differentiated and healthy supply pattern. Strengthen risk management in financial services for small and micro enterprises, focus on the risk status of key businesses, implement loan risk classification in reality, increase the intensity of non-performing loan disposal, and tilt towards the write-off of resources. Enhance monitoring and regular checks on the use of credit funds, and strengthen data quality management. Supervisory agencies at all levels should supervise and guide financial institutions to implement various regulatory systems, standardize the development of financial services for small and micro enterprises, conduct risk monitoring and analysis, balance the relationship between risk prevention and risk tolerance, continue to conduct data sampling and verification, and truly reflect the effectiveness of financial services.

(10) Enhance the efficiency of collaborative development.All levels of dispatched institutions should strengthen collaborative linkage with industry regulatory departments, actively promote local governments to introduce incremental policies to support the development of small and micro enterprises, and form a joint force in policy assistance. Continuously advance the sharing of credit information, promote the improvement of data quality, and guide financial institutions to effectively connect with financing credit service platforms. Deepen the application of technology, explore the integration of internal and external data, strengthen the analysis and judgment of the financial service situation for small and micro enterprises, and pay attention to the role of financial services in the subsequent operation of enterprises. Make good use of regulatory evaluation tools, and promote financial institutions within the jurisdiction to take serving small and micro enterprises as the engine to help local economic high-quality development. All levels of dispatched institutions and financial institutions should summarize typical practices in a timely manner, strengthen publicity and promotion, and use tangible and perceptible specific cases to enhance public awareness, creating a favorable atmosphere for supporting the development of small and micro enterprises.