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Real-time News
On September 14th, Cao Yuanyuan, Director of the Financial Markets Department of the Peoples Bank of China, stated at a State Council policy briefing that at its peak, there were over 200 electronic voucher service platforms across the market, with the outstanding balance of accounts receivable electronic vouchers reaching 3 trillion yuan, involving numerous core enterprises and upstream and downstream suppliers. After more than a year of standardization, as of the end of July, the total outstanding balance of accounts receivable vouchers in the market was 2.4 trillion yuan, a 20% decrease compared to before the standardization.On September 14, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. A reporter asked: At the BRICS summit, the Indonesian president called on BRICS member states to promote joint industrialization, emphasizing that member states have become an important part of the global supply chain, and that strengthening industrial cooperation can help member states create greater added value. What is the Foreign Ministrys response? In response, Guo Jia-kun stated that over the years, BRICS countries have actively promoted industrialization cooperation, establishing platforms such as the New Industrial Revolution Partnership Innovation Base and the BRICS Industrial Capacity Center, achieving a series of practical results. China is willing to strengthen technological cooperation with BRICS countries, deepen industrial alignment, and carry out capacity-building projects to achieve higher-quality, more resilient, and more sustainable development.On September 14th, the State Council Information Office held a policy briefing to introduce the work on strengthening the governance of the problem of payment difficulties for small and medium-sized enterprises (SMEs). Ke Jixin, Vice Minister of Industry and Information Technology, stated that if large enterprises are found to deliberately extend payment terms while refusing to utilize financing support policies, relevant departments will intervene promptly, urging rectification through joint talks and other means. For those enterprises that refuse to rectify, stricter enforcement of anti-unfair competition laws will be implemented, using measures such as credit sanctions and public exposure to create a deterrent effect. For SMEs, the financing efficiency of enterprises will be improved from multiple dimensions. In conjunction with the Ministry of Finance and the Peoples Bank of China, loan interest subsidies and re-lending policies for technological innovation and technological transformation will be provided to SMEs to effectively reduce their financing costs. At the same time, the second phase of the National SME Development Fund will be established to inject long-term and patient capital into the transformation and development of SMEs.On September 14th, the Ministry of Civil Affairs issued a risk warning regarding fraud perpetrated by individuals impersonating Ministry of Civil Affairs staff. Recently, some criminals have been impersonating "Ministry of Civil Affairs staff" to lure the public into investment schemes, financing, and other financial activities under the guise of organizing projects such as the "Guosheng Minan" elderly care subsidy program. The following points are hereby emphasized: 1. Our unit has never organized any projects such as the "Guosheng Minan" elderly care subsidy program. The public is urged to be vigilant and avoid being deceived. 2. If the public discovers any organization or individual using the identity of Ministry of Civil Affairs staff or the Ministry of Civil Affairs Elderly Care Services Department to profit from fraud, they can file a complaint with the Ministry of Civil Affairs. If losses have already occurred, please report the case to the local public security department. 3. Our unit will report this matter to the public security department and pursue the legal responsibility of the relevant parties through legal channels to resolutely safeguard the legitimate rights and interests of the public.On September 14th, the State Council Information Office held a policy briefing to introduce the work related to strengthening the governance of the problem of payment difficulties for small and medium-sized enterprises (SMEs). Ke Jixin, Vice Minister of Industry and Information Technology, stated that the "Notice on Strengthening the Governance of Payment Difficulties for SMEs" makes a series of requirements for large enterprises, including "reducing the term of accounts payable, reducing the scale of accounts payable, and increasing the proportion of cash receipts." We understand that large enterprises may face some pressure in the short term when implementing these requirements, therefore, special arrangements have been made taking into full account of the relevant circumstances. The "Notice" clarifies that for large enterprises that actively implement the relevant requirements, financing support will be strengthened. The financial sector will actively guide commercial banks to support large enterprises in replacing accounts payable through loan and bond financing, alleviating their financial pressure, and enabling timely payments to upstream and downstream enterprises.
