As of the end of February this year, the balance of loans for inclusive small and micro enterprises in China reached 30.09 trillion yuan, a year-on-year increase of 22.98%, which is 13.38 percentage points higher than the growth rate of various loans. The State Administration for Financial Regulation has proposed that the growth rate of inclusive small and micro enterprise loans and inclusive agricultural loans for the whole year should not be lower than the growth rate of various loans, and promote the stable and moderate reduction of comprehensive financing costs for inclusive credit. The growth rate of inclusive loans this year is not lower than that of various loans. Yesterday (28th), the reporter learned from the State Administration of Financial Supervision that the work goal of inclusive credit in China in 2024 is to ensure quantity, stabilize price, and optimize structure. Better meet the financial needs of small and micro enterprises, agricultural operators, and key assistance groups. This year, the State Administration for Financial Regulation proposed for the first time the concept of "inclusive credit", which includes financial services for small and micro enterprises, agricultural business entities, individual businesses, and key assistance groups in the scope of "inclusive credit" and sets unified regulatory goals. Guo Wuping, Director of the Inclusive Finance Department of the State Administration for Financial Regulation: The regulatory goal is to ensure quantity, stabilize prices, and optimize structure. We require that the growth rate of inclusive small and micro enterprise loans and inclusive agricultural loans from banks should not be lower than the growth rate of various loans. Meanwhile, stabilize credit prices. Ensure proper disclosure and full disclosure of service prices, and promote stable and moderate reduction in comprehensive financing costs. The State Administration for Financial Regulation requires banking and financial institutions to maintain their investment in inclusive credit business resources and stabilize credit prices through single credit plans, performance evaluation preferences, and internal fund transfer pricing incentives. For third-party cooperative institutions with excessively high fees, timely and effective measures should be taken, and cooperation should be terminated if necessary. In addition, it is also required to maintain full coverage of rural basic financial services and promote the improvement and upgrading of rural basic financial services. Optimizing the credit structure to meet the demand for inclusive credit in key areas. So, which areas of inclusive credit will the State Administration of Financial Regulation guide funds to focus on through policies? Let's learn more together. The State Administration for Financial Regulation requires banks to provide more suitable financial products for different stages of the life cycle of small enterprises in response to the requirements of developing new quality productivity. Guo Wuping, Director of the Inclusive Finance Department of the State Administration for Financial Regulation: Highlighting support for technological innovation, specialization, innovation, and green and low-carbon development, increasing medium - and long-term loan support for small and micro enterprises in equipment updates, technological upgrades, and project research and development. Guo Wuping introduced that this year, banks are also required to increase support for small and micro enterprises in key industrial chains, as well as in the foreign trade sector, to improve the compatibility between capital supply and economic activities such as enterprise production. In terms of agricultural loan disbursement, the State Administration of Financial Supervision requires an increase in the issuance of credit loans to new agricultural operators and farmers, and to strengthen support for rural grassroots collective economic organizations. Encourage banks to explore effective models of credit services for important agricultural product supply chain enterprises such as grain, cotton, and oil. Guo Wuping, Director of the Inclusive Finance Department of the State Administration for Financial Regulation: Promote small credit loans and revolving loans that can be borrowed and repaid at any time, and extend the renewal policy from small and micro enterprise loans to operational loans for farmers. Support banks to renew eligible operational loans and reduce the pressure on farmers' capital turnover. (Lai Xin She)