Recently, the People's Bank of China, the Ministry of Industry and Information Technology, the Banking Regulatory Commission, the Securities Regulatory Commission and the Insurance Regulatory Commission jointly issued the Guiding Opinions on Financial Support for the Construction of a Powerful Manufacturing Country, which clearly put forward the idea of speeding up the development of financial leasing business in the manufacturing sector, and supporting the renewal and transformation of equipment and product sales of manufacturing enterprises.

According to the official website of the Central Bank, in order to implement the spirit of the Eighteenth National Congress of the CPC and the Third, Fourth, Fifth and Sixth Plenary Sessions of the Eighteenth Central Committee of the CPC, financial support and services for building a strong manufacturing country should be strengthened and improved in accordance with the requirements of Made in China 2025 and the Guiding Opinions of the State Council on Deepening the Integration and Development of Manufacturing Industry and Internet. Recently, the People's Bank of China, the Ministry of Industry and Information Technology, the Banking Regulatory Commission, the Securities Regulatory Commission and the Insurance Regulatory Commission jointly issued the Guiding Opinions on Financial Support for Building a Strong Manufacturing Country (Yinfa No. 58, hereinafter referred to as the "Opinions").

The Opinion points out that we should attach great importance to and continuously improve the financial support and services for Made-in-China 2025. We should always adhere to the problem orientation, focus on the difficulties and pains in the development of manufacturing industry, and focus on strengthening financial support for technological innovation, transformation and upgrading of manufacturing industry. Focusing on the key areas and tasks of "Made in China 2025", we should improve and perfect the financial services of manufacturing industry, promote the restructuring, transformation and upgrading of manufacturing industry, and improve quality and efficiency.

"Opinions" proposed that we should actively develop and improve the diversified financial organization system to support the construction of manufacturing power. Give full play to the differential advantages of various banking institutions to form a synergistic effect of financial services. Through the establishment of advanced manufacturing financing departments, science and technology financial franchises and so on, the level of specialization and refinement of financial services will be improved. We will standardize the development of financial companies in manufacturing enterprise groups and steadily promote the pilot work of financial services in extended industrial chains. We will accelerate the development of financial leasing business in the manufacturing sector, and support equipment upgrading and product sales in manufacturing enterprises.

The Opinion stresses the need to innovate and develop credit management system and financial product system that are in line with the characteristics of manufacturing industry. Considering the "soft information" of technology, talent and market prospects of manufacturing enterprises rationally, and using credit loans and intellectual property pledge loans to actively meet the capital needs of innovative manufacturing enterprises. We will vigorously develop financial products and services in the industrial chain to effectively meet the financing needs of upstream and downstream enterprises in the industrial chain. We will steadily and orderly promote pilot projects of investment-credit linkage business, and provide effective financial support for technological and innovative manufacturing enterprises. We will improve financing services for mergers and reorganizations and support enterprises to achieve industry integration through mergers and reorganizations. Select the best and help the best, effectively prevent and control risks.

The Opinion makes it clear that we should vigorously develop multi-level capital markets and strengthen financial support for the transformation and upgrading of manufacturing industry. We will accelerate the listing or listing of high-tech manufacturing enterprises and advanced manufacturing enterprises, design and develop innovative bond products that meet the characteristics of advanced manufacturing industries and strategic emerging industries, and support the securitization of credit assets in the manufacturing sector. We should give full play to the role of the insurance market, actively develop insurance products to promote the development of manufacturing industry, and expand the investment of insurance funds in manufacturing industry. At the same time, we should strengthen policy coordination and organizational guarantee, improve the linkage mechanism between industry and financial departments, and strengthen communication, coordination and two-way information sharing. We should explore and improve diversified credit risk sharing mechanisms and support financial institutions to increase credit investment in the manufacturing sector.