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Rapid Implementation of Incremental Policies for Qingdao's Financial Sector

Source：Haibao News 11-15-2024 09:00:00

Since China's central government deployed a package of incremental policies in late September, Qingdao has actively advanced the implementation of these policies, achieving notable results in financial backing for the real estate sector to halt its decline and stabilize, as well as intensifying support to aid enterprises.

In early October, the Qingdao Local Financial Supervision and Administration Bureau, together with relevant departments of Shandong Province and Qingdao City, successively issued nineteen measures to support the stabilization of Shandong's real estate market and enacted ten policies to further foster the stable and healthy development of Qingdao's real estate market.

To address the challenges of financing difficulty, high cost, and slow processes for micro and small enterprises (MSEs), the Qingdao Local Financial Supervision and Administration Bureau, in coordination with the Development and Reform Commission of Qingdao Municipality and other departments, researched and deliberated on measures to efficiently advance a coordination mechanism supporting the financing of MSEs. Additionally, the "Work Plan of Qingdao Local Financial Supervision and Administration Bureau on Supporting Financing Coordination Mechanism for Micro and Small Enterprises" was issued. The document focuses on the "four key priorities" of renewing loans for MSEs, granting initial loans, lowering financing costs, and streamlining approval processes to enhance the accessibility of financing for MSEs from a systemic perspective.