On the morning of November 2, the Business Management Department of the People's Bank of China (PBOC) and related departments jointly organized a meeting to issue the "Implementation Suggestions on Further Deepening the Financial Services of Private, Small and Micro Enterprises in Beijing" (hereinafter referred to as the "Implementation Suggestions").

Zhu Hexin, vice president of the PBOC, and Yin Yong, deputy mayor of Beijing, attended the promotion meeting and delivered speeches. Relevant departments, over thirty financial institutions, and more than sixty representatives of private, small and micro enterprises participated in the meeting.

The "Implementation Suggestions" proposed twenty supporting measures covering five aspects: monetary policy, policy coordination, incentive mechanism, assessment and business environment, and the channeling of more funds to support the development of sci-tech private, small and micro enterprises.

"Implementation Suggestions" also contained a number of policy highlights and innovative initiatives. The PBOC will set up a rediscount quota of seven billion yuan to support sci-tech small and micro enterprises, and add a PBOC rediscount window in the Zhongguancun Demonstration Zone to provide low-cost and convenient financing support for sci-tech private, small and micro enterprises.

At the promotion meeting, Zhu Hexin and Yin Yong licensed the rediscount window of the PBOC in the Zhongguancun Demonstration Zone.

At the meeting, China Bond Insurance Co Ltd, three private enterprises from the Zhongguancun Demonstration Zone, Zhongguancun Sci-tech financing Guaranty Co Ltd and two commercial banks signed a letter of intent on "supporting tools for the bond financing of private enterprises", marking its official launch in the Zhongguancun Demonstration Zone.

Zhongguancun Management Committee will also actively implement a policy of facilitating capital accounts in the sixteen science parks of Zhongguancun to expand the pilot range and quota of foreign debt.

The committee also plans to begin pilots facilitating the payment of foreign exchange receipts on capital projects. The pilots will further enhance the trade and investment facilitation of private, small and micro enterprises.