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Guidance of China Banking Regulatory Commission

Release Date:2022-05-24 Source:中国市政微信公众号 View:0

China Banking and Insurance Regulatory Commission's Guidance on Banking and Insurance Industry Support for Urban Construction and Governance

CBIRC [2022] No. 10

All CBIRCs, policy banks, large banks, joint-stock banks, foreign banks, direct banks, insurance group (holding) companies, insurance companies, insurance asset management companies, insurance professional intermediaries, banking associations, insurance industry associations:

In order to thoroughly implement the important concept of "people's city built by the people, people's city for the people" of General Secretary Xi Jinping, guide the banking and insurance industry to base on the new development stage, implement the new development concept completely, accurately and comprehensively, serve the new development pattern, and better support urban construction and governance, this guiding opinion is formulated.

I. Guiding Ideas

Guided by Xi Jinping's thought of socialism with Chinese characteristics in the new era, adhere to the people-centered development ideology, focus on the requirements of building a livable, innovative, intelligent, green, humanistic and resilient city, deepen reform, forge ahead, allocate financial resources more efficiently to the key areas and weak links of people's urban development, better meet the people's needs for a better life, and promote the construction of a people-satisfied socialist modern city.

II、The basic principles 

(A) to serve the national strategy and promote coordinated development.To Beijing, Tianjin and Hebei synergistic development, the Yangtze River Economic Belt development, Guangdong, Hong Kong and Macao Bay Area construction, the Yangtze River Delta integrated development, the Yellow River Basin ecological protection and high-quality development and other major regional strategies as a leader, based on the western, northeastern, central and eastern plate, to promote regional integration and interaction, integration and complementarity, to help form a new mechanism for coordinated development of the region with strong coordination, orderly competition, green coordination, sharing and win-win.

(B) in line with the law of development, adhere to the city-based approach. Recognize, respect and take into account the regional characteristics, population development, resource endowment, industrial structure, functional positioning and cultural characteristics of different cities, refer to the results of city physical examination and population change trends, take differentiated initiatives, scientifically select support priorities, reasonably allocate financial resources, and promote the coordinated linkage and characteristic development of large, medium and small cities and towns based on city clusters and metropolitan areas.

(C) adhere to serve the people and promote green development.To enhance the people's sense of access, happiness and security as the starting and ending point of financial services, to meet the diversified, multi-level, high-quality financial needs of the masses, and promote people to share the fruits of urban development. Promote the comprehensive urban development to green ecological transformation, the construction of a modern city in harmony with nature.

(D) play the role of the market, deepen reform and innovation.Follow the laws of financial development, give full play to the decisive role of the market in the allocation of financial resources, give full play to the role of insurance protection, deepen the reform and innovation of the banking and insurance industry, stimulate the vitality of market players, and promote the positive interaction between finance and the real economy of the city, symbiotic development.

(E) strictly adhere to the risk bottom line, to ensure safety and efficiency.Supervise the banking and insurance institutions to enhance the comprehensive risk management ability, strictly do the risk assessment and project due diligence, avoid low-level blind development and repeated construction in cities, adhere to the positioning of "housing and housing without speculation", resolutely curb the hidden debt of local governments, and promote the banking and insurance industry to support the high-quality development of cities.

III、People-centered, improve the sense of access, happiness and security of the masses

(A) Focus on the material and cultural needs of the people and improve the quality of urban life. Encourage banks and insurance institutions to increase the effective financial supply in the fields of elderly care, childcare, housekeeping, catering, accommodation, retail, culture, tourism and sports, support the construction of public cultural facilities, the production of cultural products, the protection and utilization of historical and cultural districts and historical buildings, promote the inheritance and development of Chinese fine traditional culture, and better meet the growing material and cultural needs of urban residents. Standardize the development of consumer finance, in line with the trend of consumer upgrading and online and offline consumption integration, to meet the reasonable financing needs of urban residents in accordance with the law. Encourage banks and insurance institutions to provide financial services for agricultural warehousing, cold chain logistics and quality assurance enhancement, help improve the agricultural products and food safety guarantee system, support the development of food processing and catering service enterprises such as green food enterprises, Chinese long-established brands and high-quality innovative brands, and better meet the demand of urban residents for healthy diet. Explore new models of real estate development, adhere to the rent-to-own model, accelerate the development of the long-term rental housing market, promote the construction of subsidized housing, and support the commercial housing market to better meet the reasonable housing needs of homebuyers.

(B) support public health care and elderly services to help urban residents live a healthy life.Encourage banks and insurance institutions to help improve the public health service system in accordance with the law and regulations, and enhance the ability to prevent and control emergency outbreaks. Encourage insurance institutions, under the premise of risk control, to strengthen cooperation with governments at all levels and develop customized commercial medical insurance business in line with urban reality; explore insurance services for the elderly, people with disabilities, patients with rare diseases and chronic diseases, people with assisted reproduction needs, people with past illnesses, etc., and actively participate in long-term care insurance pilot projects to meet the health protection needs of different groups of people in a targeted manner; explore the insurance industry's cooperation with medical institutions, social security agencies, etc. in accordance with the law. Explore the insurance industry to strengthen data sharing with medical institutions, social security departments, etc. in accordance with the law to provide accurate data support for insurance product design and claims processing. Encourage banks and insurance institutions to strengthen their financing support and insurance protection for specialized elderly care service institutions in accordance with the law, and actively provide assistance for the development of elderly care service systems such as age-appropriate home renovation, home-based community elderly care service networks, and elderly care service projects relying on grassroots and community health service networks. Continue to regulate the development of the third pillar of pension insurance, and encourage the development of financial products with strong pension functions to meet the differentiated pension needs.

(C) strengthen the protection of the legitimate rights and interests of financial consumers and promote the harmonious development of the city.Supervise banks and insurance institutions to strictly implement the main responsibility in the protection of the rights and interests of urban financial consumers, guide banks and insurance institutions to strengthen the construction of institutional mechanisms for the protection of consumer rights and interests, fully disclose information on financial products and services, continuously optimize the handling of consumer complaints, and actively participate in the diversified settlement of financial disputes. Increase education and publicity on banking and insurance product knowledge, enhance the financial literacy and risk awareness of consumers, especially students and the elderly, guide them to purchase financial products rationally, and consciously prevent, stay away from and resist illegal financial activities such as illegal fund raising and financial fraud. Effectively address the difficulties of the elderly in using smart technology in the financial sector. Continuously strengthen the supervision of behavior and protect the legitimate rights and interests of financial consumers.

(D) give full play to the role of insurance protection and promote the development of urban safety. Support the development of production safety, food and drug safety, campus safety, medical disputes, construction quality and other insurance business closely related to the public interest, and promote the construction of urban safety protection network. Encourage the development of production safety liability insurance. Develop urban catastrophe insurance in accordance with local conditions, and support insurance institutions to give full play to the role of insurance protection in areas such as major natural disasters, sudden public safety accidents and sudden public health events. Encourage insurance agencies to combine motor vehicle insurance, carrier liability insurance, traffic accident insurance and other products, and actively provide insurance protection for urban transportation.

IV、Improve urban construction and governance around green and wisdom

(A)Support infrastructure construction and help improve city functions.Guide banks and insurance institutions to support urban renewal projects in accordance with the law and regulations, encourage pilot projects, follow the laws of urban development, respect the wishes of the people, take the path of intensive, green and low-carbon development, adhere to the "stay, change and demolition", mainly to retain the use of upgrading, strengthen the repair and transformation, make up for the shortcomings of the city, and focus on functional improvement. Encourage banks and insurance institutions to provide financial support for the transformation of old urban areas and other livelihood projects, as well as modern logistics systems, convenient living circle outlets, pedestrian street renovation and upgrading, urban parking facilities, etc., to ensure the optimization of production, living and ecological space.

(B)Promote carbon peaking and carbon neutral work in an orderly manner, and promote green and low carbon cycle development of the city.Encourage banking and insurance institutions to increase their support for urban development in the fields of energy conservation, clean energy, green transportation, green shopping malls, green buildings, ultra-low energy buildings, near-zero energy buildings, zero-carbon buildings, assembly-type buildings, as well as green transformation of existing buildings, green construction demonstration projects, and construction of recycling systems for waste materials, and strongly support the construction of climate-resilient cities and pilot climate investment and financing. Encourage banking institutions to actively develop energy efficiency credit and retail green credit asset securitization, invest in green bonds, and properly carry out credit and pledge financing for environmental rights and interests under the premise of legal compliance and risk control. Banks and insurance institutions are encouraged to actively and steadily participate in the construction of the carbon market, strengthen forward-looking research and research on carbon finance business models, and prevent "one-size-fits-all" and "campaign-style" carbon reduction.

(C)Support ecological restoration and improve urban habitat.Encourage banks and insurance institutions to combine ecological environmental protection and governance, pioneer innovation, and increase support for urban sewage and garbage treatment, solid waste treatment, construction waste treatment and resource utilization, air pollution prevention and control, noise pollution prevention and control, soil pollution risk control and remediation, circular economy, clean heating, promotion of new energy vehicles and machinery, construction of special railroad lines, construction of shore power, relocation and upgrading of industrial enterprises, etc. Support for environmental protection areas. Encourage insurance institutions to actively carry out green insurance and explore insurance products and services for progressive pollution and ecological environmental damage.

(D)Accelerate digital transformation and improve the level of urban wisdom.Encourage banks and insurance institutions to reasonably apply emerging technologies such as artificial intelligence, big data, cloud computing and blockchain to enhance urban financial services and risk control, and give full play to the advantages of capital, technology, channels and personnel to expand the diversified urban service functions of offline outlets and online channels. Encourage banks and insurance institutions to actively participate in the construction of new urban infrastructure within the scope of business, strengthen the use of basic information platform of land space, basic population information resources and other areas of information in accordance with the law, and increase cooperation with the government in data and information in the construction of urban governance network systems such as intelligent planning, intelligent transportation, intelligent energy, intelligent medical care, intelligent education and intelligent elderly care to help Government decision-making and refinement of management. Encourage insurance institutions to make reasonable use of digital means to improve risk management capacity for underwriting claims, simplify claims procedures, improve claims processing time, develop and improve intelligent claims services for suitable insurance types, and strengthen research on insurance needs in emerging fields such as smart network-connected vehicles. Strengthen cooperation with public security, traffic management and other departments to further promote intelligent and convenient processing of motor vehicle traffic accidents and insurance claims, and enhance the satisfaction of urban residents.

V、Serve the real economy and strengthen the momentum of urban development

(A)Support small and micro enterprises and stimulate the vitality of urban development.Guide commercial banks to further improve the mechanism of specialization of financial services for urban micro and small enterprises by singling out credit plans, implementing internal transfer pricing preferences, increasing the weight of inclusive finance performance assessment, and implementing bad tolerance and due diligence exemption provisions. Guide the financing credit service platform at all levels to play an active role, increase the sharing of credit information of urban micro and small enterprises, and realize the accurate docking between urban micro and small enterprises and banks and insurance institutions. Deeply promote technology empowerment to enhance the financial service capability of urban small and micro enterprises.

(B)Support special industries and enhance the comparative advantages of the city.Encourage banks and insurance institutions to strengthen support for leading industries and special industries that meet the actual development of cities, strongly support the development of green industries in key ecological function areas and main agricultural product producing areas, encourage the development of strategic emerging industries, support the forward-looking layout of future industries, and help different cities' industries to compete in a misaligned manner and develop in a synergistic manner. Encourage banks and insurance institutions to strengthen financial support for state-level economic and technological development zones, national high-tech industrial development zones, border (cross-border) economic cooperation zones, national innovation demonstration zones, national sustainable development agenda innovation demonstration zones, new industrialization industry demonstration bases, green industry demonstration bases, advanced manufacturing clusters, etc., and help advanced manufacturing industries, strategic emerging industries, and The development of local special advantageous industrial clusters. Encourage banking institutions to optimize the structure of manufacturing loans, focusing on supporting advanced manufacturing, high-end equipment manufacturing, etc. Standardize the development of supply chain finance, and support the safe and smooth flow of industrial chain and supply chain.

(C)support the integration of urban and rural areas and improve the quality and effectiveness of services for new citizens. Encourage banks and insurance institutions to strengthen support for regions and industries that absorb more new citizens, expand the supply of financial products and services, promote new citizens' entrepreneurship and employment, and help new citizens' training and children's education. Insurance institutions are encouraged to accelerate the development of supplementary medical and pension insurance products and various types of accident insurance products suitable for employees in new industries and new industries, as well as those engaged in various flexible employment such as domestic helpers, take-away and transportation, to enhance the level of protection coverage for the agricultural transfer population and to continue to promote the citizenship of the agricultural transfer population. Encourage banks and insurance institutions to support county construction to fill short boards and strengthen weaknesses under the premise of risk control and commercial sustainability, promote urban and rural public service facilities, environmental infrastructure, municipal public facilities, people-friendly living circle facilities, industrial supporting facilities, and county commercial network facilities, focus on national pilot areas for urban-rural integration and development, support the extension of urban infrastructure to rural areas, promote urban and rural water, electricity, roads, gas and heat, sewage (D) Support scientific and technological innovation, enhance the development of the public services in urban and rural areas.

(D)Support scientific and technological innovation and enhance the momentum of urban development. Encourage banks and insurance institutions to collaborate with government departments, venture capital institutions and research institutes to vigorously develop science and technology finance and provide financial support to achieve major technological breakthroughs and transformation of achievements. Encourage banking institutions to strengthen cooperation with external investment institutions under the premise of legal compliance and risk control, and actively explore diversified modes of scientific and technological financial services. Support eligible insurance institutions to participate in the first (set) of major technical equipment insurance, the first batch of new materials application insurance compensation mechanism pilot, explore the development of the first version of software insurance, and actively develop intellectual property-related insurance products. Support insurance funds and eligible insurance asset management products to invest in venture capital funds and equity investment funds for science and technology enterprises according to law and regulations.

、Strengthen the collaboration and cooperation to effectively promote the work

(A)Strengthen regulatory guidance.Integrate security and development, combine the characteristics of the city, apply policies according to the city, focus on key areas and weak links, and promote the work in a targeted and focused manner. Guide banks and insurance institutions to find their own positioning according to their comparative advantages and business strategies, increase product and service innovation, and form a financial service system with staggered competition and complementary advantages, so as to provide effective support for the city's high-quality development.

(B)Strictly adhere to the risk bottom line.Supervise banks and insurance institutions to continuously strengthen risk management, adhere to prudent and compliant operation, and support projects that are compatible with the level of local economic development and have been scientifically planned and proven in accordance with the principles of risk control and commercial sustainability. Resolutely curb new local government hidden debts, strictly prohibit banks and insurance institutions to cooperate with local governments through new hidden debts on new projects, paving new stalls. The company is also a member of the Board of Directors of the National Institute of Technology (NIT). Guide banks and insurance institutions to keep track of the relevant initiatives to support urban construction and governance, pay close attention to the relevant business development and risks, and adjust and improve work measures at the right time. Take timely and strong supervisory measures against imprudent and illegal behaviors in the operation of banks and insurance institutions.

(C)Increase cooperation and exchange.In accordance with the overall idea of government guidance, planning first, common construction and sharing, and serving the people, cooperate with governments at all levels and relevant departments to use various forms to promote multi-party information sharing and smooth docking between supply and demand. Support local governments to strengthen the construction of social credit system and the sharing and opening of credit information, implement disciplinary actions for breach of trust according to law and regulations, and create a favorable environment for the banking and insurance industry to support the high-quality development of cities. Linking the self-regulatory organizations of the banking and insurance industry to interpret the requirements of relevant initiatives in a timely manner, actively promote industry exchanges and strengthen the mutual appreciation of typical experiences.

China Banking and Insurance Regulatory Commission

May 6, 2022

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