On august 1, the "zhejiang province local financial regulations" will be officially implemented!

This Saturday, August 1, the "Zhejiang Province Local Financial Regulations" (hereinafter referred to as the "Regulations") will be officially implemented. This is another local regulation in the financial field issued by Zhejiang Province after the "Wenzhou Municipal Private Financing Management Regulations". On the afternoon of July 27, the Legal Committee of the Zhejiang Provincial People's Congress, the Financial and Economic Committee of the Zhejiang Provincial People's Congress, and the Zhejiang Provincial Local Financial Supervision and Administration Bureau jointly held a publicity and implementation meeting for the "Zhejiang Provincial Local Financial Regulations" in Hangzhou. Zhejiang Internet Finance Federation participated in this press conference and related training.

The "Zhejiang Provincial Local Financial Regulations" elevate Zhejiang Province's years of practical results in guiding financial services to the real economy and promoting high-quality development of the financial industry to the legislative level.

Promote Wenzhou practices and absorb Taizhou experience

The "Regulations" have six chapters and 52 articles, which establish rules and regulations for local financial management from three aspects: supervision and management of local financial organizations, prevention and disposal of financial risks, and financial services to the real economy. Zhejiang News reporters found that there are many Zhejiang characteristics, such as the private financing service enterprises with Zhejiang characteristics created by the "Wenzhou Municipal Private Financing Management Regulations" as local financial organizations, which are regulated in the regulations and promoted to the entire province. According to the relevant provisions of Article 18 of the Regulations: Private lending activities shall comply with laws, regulations and relevant national regulations. When the amount of a single loan or the cumulative amount of loans from the same lender reaches more than 3 million yuan; the balance of principal and interest of the loan reaches more than 10 million yuan; and the cumulative amount of loans from more than 30 specific persons is exceeded, the lender has the right to supervise the borrowing A person may perform the filing obligations stipulated in the preceding paragraph voluntarily.

The "Regulations" also stipulate that if private financing service companies and private loan borrowers fail to perform their filing obligations or provide false filing materials, they should also be fined accordingly.

In addition, the "Regulations" also draw on the "Taizhou experience" in the construction of a policy financing guarantee system, clarifying that the government should promote the establishment and improvement of a policy financing guarantee system that provides financing guarantees for small and micro enterprises, and establish and improve risk compensation and government financing guarantees. The company's continuous capital replenishment mechanism encourages financing guarantee companies and banking financial institutions to establish cooperation and guarantee liability risk sharing mechanisms.

Local financial supervision Strengthen

Head of the Legal Affairs Committee of the Provincial People's Congress According to the introduction, there are many private enterprises in our province, abundant private funds, and very active financial activities and financial innovation practices. Due to the incomplete laws and administrative regulations on the supervision of new financial formats in the country, some financial activities are outside of supervision and have irregular operations. , risks are accumulating, and there is a phenomenon of shifting from reality to virtuality in the financial field.

The provincial and local financial regulatory bureaus are responsible People said that the "Regulations" clearly define the scope of local financial organizations that are responsible for local supervision, including small loan companies, financing guarantee companies, pawn shops, financial leasing companies, commercial factoring companies, local asset management companies, regional equity markets Seven types of organizations are included in the scope of local financial organizations.

According to the Regulations, establishing a complete financial supervision system is an important goal of financial reform and an effective means to prevent financial risks. In order to implement the requirements of the central government, the Regulations stipulate that the provincial and local financial regulatory departments are responsible for the supervision of local financial organizations in the province, and the local financial work departments of cities and counties are responsible for the relevant work of supervising local financial organizations. Specifically, local financial organizations that the central government authorizes local supervision and requires local governments to strengthen supervision are supervised by provincial and local financial supervision departments. Municipal and county local financial work departments can conduct on-site inspections of local financial organizations with hidden financial risks and take measures. Corresponding measures: For private financing service enterprises, which are financial organizations with Zhejiang characteristics, the local financial work departments of districted cities are given certain supervisory responsibilities in terms of access filing management and administrative penalties.

Financial services entities are guaranteed
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"Regulations" stipulates A series of effective measures to promote financial services to the real economy are proposed to encourage the development of multi-level capital markets, requiring local financial supervision and management (work) departments to promote enterprises to carry out standardized joint-stock restructuring, support enterprise listings, mergers and acquisitions, and support enterprises in the national small and medium-sized enterprise shares The transfer system and regional equity market listings will guide enterprises to raise funds through equity investment, stock and bond issuance, etc., increase the proportion of direct financing, and improve the financing structure.

The "Regulations" also encourage financial factors to invest in key industries, key projects and key areas, encourage financial institutions to provide preferential treatment or convenience to market entities with good credit status in terms of loan credit, rates and interest rates, repayment methods, etc., requiring the government and relevant departments Provide convenience for local financial organizations to carry out relevant mortgage and pledge financing businesses.

Relying on the "No. 1 Project" of the digital economy, we The province will also support the application of emerging technologies such as cloud computing, big data, artificial intelligence, and blockchain in the fields of financial services and financial supervision and management, and promote compliance innovation in financial technology products, services, and business models.

Financial reform results are more Rich

Reform the financial sector in Zhejiang The results are consolidated through local legislation, which is one of the highlights of the Regulations.

In 2018, the downward pressure on economic performance increased, private enterprises encountered difficulties in their development, and the battle against financial risks began. The Provincial Local Financial Supervision Bureau specially issued the "Pilot Work Plan for Establishing a Corporate Financial Consultant System", drawing on the corporate legal consultant model and pioneering the launch of the "financial consultant" system.

The formulation of the "Zhejiang Province Local Financial Regulations" is an important manifestation of Zhejiang Province's political consciousness of "three places and one window", in-depth implementation of the spirit of General Secretary Xi Jinping's speech and the implementation of the financial management responsibilities assigned to local governments by the Party Central Committee and the State Council. The specific measures taken by Zhejiang Province to actively participate in building a modern financial regulatory framework and proactively serve the construction of "important windows" are institutional guarantees to promote the healthy and standardized development of local finance in Zhejiang Province and promote finance to better serve the real economy. They will also provide support for the national local finance Legislation contributes Zhejiang wisdom.

Source: Zhejiang Daily, Zhejiang Daily Media