On April 21, 2020, CDB held an analysis conference on the business situation of Q1 2020 in Beijing, during which attendees studied the spirit of the meeting of the Political Bureau of the CPC Central Committee, analyzed the current situation to inform coordinated efforts to promote epidemic prevention and control while supporting economic and social development, and decided to utilize development finance to ensure “six priorities” and stability in six areas. Zhao Huan, Chairman of CDB, gave a speech at the conference, and Ouyang Weimin, President of CDB, delivered a report on the status of business work. Zhou Qingyu, Executive Vice President of CDB, and Song Xianping, Chief Inspector of the Discipline Inspection and Supervision Office of CCDI and NCS at CDB, attended the conference.
It was pointed out at the conference that since the beginning of this year, in the face of the outbreak of the COVID-19 epidemic, CDB has thoroughly implemented the decisions and arrangements of the CPC Central Committee and the State Council, strengthened the organization and leadership of epidemic prevention and control, established emergency financing service mechanisms to actively support national epidemic prevention and control, supported the resumption of business operations as well as the recovery and development of the real economy, took solid measures to promote risk prevention, control and resolution, and improved operation and management. As a result, CDB has made positive progress in various tasks. As of the end of March 2020, CDB had issued a total of 728.1 billion RMB in new domestic and foreign currency loans and increased existing domestic and foreign currency loans by 421.9 billion RMB. Among these, 16.9 billion RMB was granted in emergency loans for epidemic prevention and control, and 12.7 billion RMB in PBOC’s special loans were relent by CDB; 118.5 billion RMB and 5.67 billion USD in special loans were given to support more than 500 enterprises in the resumption of work and production; 27.4 billion RMB in relent loans went to small and micro-sized companies, 126.8 billion RMB in loans were granted to the manufacturing industry, and 82.7 billion RMB in poverty alleviation loans were issued. Preferential interest rates for emergency loans, relent loans, and special loans were applied. By granting these loans, CDB has fully supported the role of development finance in this critical period.
It was required at the conference that, looking ahead, CDB should follow the principles of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, resolutely carry out the decisions and arrangements of the CPC Central Committee and the State Council, closely adhere to the goals of poverty alleviation and the building of a moderately prosperous society in all respects, follow the general principle of pursuing progress while ensuring stability, apply the new development philosophy, focus on supply-side structural reform, and promote high-quality development by drawing strength from the policies of reform and opening up. While persistently implementing regular epidemic prevention and control measures, CDB should further promote the role of counter-cyclical adjustment, strengthen support for the real economy, stimulate domestic demand, and help ensure “six priorities” and stability in six areas, in an effort to foster economic development and safeguard social stability.
The following major tasks were put forward at the conference. CDB should follow the principle of being cautious from beginning to end, and should also implement strengthened epidemic prevention and control measures on a regular basis, so as to continuously consolidate existing achievements in epidemic prevention and control. CDB should actively take responsibility, ensure structure and direction of investments, accelerate project development and review, as well as speed up credit review and release, with a view to providing solid support for the recovery and development of the real economy through development finance. CDB should make sustained and targeted efforts to actively assist enterprises in resuming operations, facilitate construction of traditional and new infrastructure, boost high-quality development of small and micro-sized enterprises and the manufacturing industry, and offer support to key areas, including major regional development strategies, healthcare, the establishment of housing security systems, pollution prevention and control, and the high-quality implementation of the Belt and Road Initiative. CDB should focus on adopting targeted policies, guide interest rates in the loan markets downward, provide financial services for enterprises suffering due to the epidemic, and enhance support for the economic and social development of Hubei Province. CDB should do its best to alleviate poverty through financial means, prioritize supporting the key impoverished counties in its poverty alleviation work, continue to support poverty alleviation in poverty-stricken areas, promote collaboration on poverty alleviation between eastern and western regions, assist in the fight against poverty in selected regions, and promote effective interaction between poverty alleviation in all aspects and rural revitalization projects. CDB should overcome the impact of the epidemic and win the tough battle to prevent and resolve financial risks. CDB should deepen its internal reforms, optimize systems and mechanisms, encourage innovation of financing models, strengthen delicacy management, and enhance development finance’s effect on helping to implement policies and improve CDB’s operational performance.
It was stressed at the conference that CDB should strengthen Party building in an all-round way, take a clear political stand, and execute decisions and arrangements of the CPC Central Committee. CDB should carry out its responsibilities, implement a list-based management system, and promote the fulfillment of key tasks to realize full and strict governance of the Party. CDB should spare no effort in eliminating the adverse effects of Hu Huaibang’s serious violations of disciplines and laws, and should strive to further improve Party conduct, build clean governance, and fight corruption. CDB should focus on career training to build a team of high-quality professional cadres, educate and guide both cadres and employees to help them achieve their goals in important campaigns, as well as make contributions to winning the final battle against poverty and to building a moderately prosperous society in all respects.
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