SMM Network News: poverty alleviation microfinance is a poverty alleviation credit product jointly launched by the China Banking and Insurance Regulatory Commission, the Ministry of Finance, the people's Bank of China and the State Council Poverty Alleviation Office in 2014. The key points of the policy are "less than 50,000 yuan, less than 3 years, free mortgage-free mortgage, benchmark interest rate lending, financial discount, county construction risk compensation." By the end of the first quarter of 2020, a total of 444.35 billion yuan of microfinance for poverty alleviation had been issued nationwide, supporting a total of 10.6781 million poor households with archival cards, more than 1/3 of the poor households nationwide. Remarkable achievements have been made in helping poor people to shake off poverty and become rich, strengthening the endogenous driving force of poor households, promoting the development of financial markets in poor areas, and improving social governance in rural areas.

In order to conscientiously implement the spirit of General Secretary Xi Jinping's important instructions and the decision-making arrangements of the CPC Central Committee and the State Council, further do a good job in poverty alleviation microcredit work, and help win the battle of poverty alleviation with high quality, recently, the China Banking and Insurance Regulatory Commission, the Ministry of Finance, the people's Bank of China, and the Poverty Alleviation Office of the State Council jointly issued the Circular on further improving the relevant policies on Poverty Alleviation and Microfinance (hereinafter referred to as the Circular), proposing six measures:

First, we should further adhere to the poverty alleviation microcredit policy and make it clear that the poverty alleviation microcredit contracts (including loan renewal and extension contracts) signed during the poverty alleviation period (before December 31, 2020) will remain unchanged during the contract period.

The second is to further expand the object of poverty alleviation microcredit support, and bring the marginal population with industrial development conditions and labor ability into the scope of poverty alleviation microcredit support.

The third is to further extend the repayment period of poverty alleviation microcredit affected by the new crown pneumonia epidemic, and for poor households whose maturity date is after January 1, 2020 (including loan renewal and extension), poverty alleviation microcredit affected by the epidemic, on the basis of extending the repayment period of no more than six months, the repayment period will be further extended to the end of March 2021.

Fourth, to further meet the needs of poverty alleviation microcredit, it is required to conscientiously implement the responsibility of sub-contracting work, persist in taking villages and towns as units to continuously improve the main responsibility bank mechanism of poverty alleviation microcredit, implement list system management, and make full use of loans to poor households who meet the requirements. Give full play to the role of grass-roots forces such as the two village committees and village support teams, and cooperate with banking institutions to do a good job in the publicity of poverty alleviation microcredit policies and the monitoring and guidance of the use of loans.

Fifth, we should further do a good job in the prevention and control of the risk of poverty alleviation microcredit, adhere to the borrowing, use and return of poverty alleviation microcredit households, accurately use it for the personal development and production of poor households and marginal population, strengthen the monitoring and analysis of poverty alleviation microcredit, continuously improve the risk compensation mechanism, and clarify the starting conditions and process of risk compensation.

Sixth, we should further strengthen the leadership of poverty alleviation microfinance organizations, and require banking and insurance supervision departments at all levels, financial departments, branches of the people's Bank of China, and poverty alleviation departments to strengthen overall planning and coordination, incorporate the work of poverty alleviation microfinance into the annual assessment of local party committees and governments in poverty alleviation, and strengthen the summary and promotion of typical experiences and news publicity.

In the next step, the China Banking and Insurance Regulatory Commission, together with relevant departments, will conscientiously do a good job in the implementation of the Circular, give full play to the role of microfinance in poverty alleviation, strive to overcome the impact of the epidemic, and earnestly consolidate the achievements in poverty alleviation, so as to provide strong support for comprehensively accomplishing the goal of poverty alleviation on schedule.

Attached: circular of the China Banking and Insurance Regulatory Commission, the Ministry of Finance, the people's Bank of China, the Poverty Alleviation Office of the State Council on further improving the relevant policies

Http://www.cbirc.gov.cn/view/pages/ItemDetail.html?docId=913551&itemId=924&generaltype=1

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