Three Shenzhen-based national lawmakers recently held discussions with the representatives from micro, small and medium-sized enterprises in Bao’an District, pooling ideas on financial inclusion for motions to be proposed in the upcoming meetings of the country’s top legislative and political advisory bodies, Shenzhen Special Zone Daily reported.
The discussions, held in the Deputies’ Center in Shiyan Subdistrict, were organized by Fan Qingfeng, a deputy to the country’s top legislature and vice president of Shenzhen HTI Group Co. Ltd.
Bao’an is an industrial hub in Shenzhen and Shiyan Subdistrict is home to more than 6,000 companies, most of which are micro, small and medium-sized enterprises.
Last year, the Standing Committee of the Shenzhen Municipal People’s Congress set up the city’s first liaison station for micro, small and medium-sized enterprises and Shenzhen-based national lawmakers to enhance exchanges.
According to the subdistrict, although there are quite many promising small and medium-sized enterprises in Shiyan, they have long been hampered by financing hurdles, and are coming under increasing pressure due to the pandemic.
In an interview with the Daily, Fan said that micro, small and medium-sized enterprises short of capital supply were hit hard by the pandemic. Loan guarantee schemes adopted by the government may have a role to play in order to solve the financing difficulties of these companies.
According to Fan, the government should further increase the reward and risk compensation for guarantee institutions to carry out innovative inclusive financial services and lower financing guarantee fees to alleviate the high financing cost of enterprises.
“We have had some fruitful discussions,” said Fan, adding that he will certainly let the enterprises’ voice be heard in the meetings of national lawmakers and political advisers.
Fan said based on previous research, he plans to submit two motions. One aims to boost inclusive finance by means of big data and promote the development of micro, small and medium-sized enterprises, while the other aims to propel financial institutions to stimulate the vitality of industrial chain and supply chain.
Fan said his motions will be based on the opinions and suggestions he collected from the discussions.