Premier Li Keqiang pointed out in his government work report on March 5 that in the face of the impact of the epidemic last year, the Chinese government paid attention to using reform and innovative methods to help enterprises tide over their difficulties and stimulate their vitality, helping small and medium-sized enterprises and individual industrial and commercial households that were most directly affected to tide over their difficulties. It is worth noting that there are still weak links in the prevention and control of epidemic situation in China, the foundation of economic recovery is still not solid, residents' consumption is still restricted, the investment growth potential is insufficient, small and medium-sized enterprises and individual industrial and commercial households have more difficulties, and the pressure to stabilize employment is greater.

Zhang Hui

Researcher, Teaching and Research Center, China Academy of Fiscal Science

Enhance the vitality of micro-subjects, and give full play to the subjective initiative of enterprises and entrepreneurs; It is necessary to focus on enhancing the vitality of micro-subjects and promote relevant reforms to go deeper and deeper. All these clearly show that the CPC Central Committee will further stimulate the vitality of micro-subjects as an important direction of reform, as an important strategic measure to promote high-quality development, and it will be one of the important graspers of economic work for a long time to come.

in the process of activating the vitality of micro-subjects, reducing taxes and fees and reducing the financing cost of enterprises will bring "real money and silver" support to the vast number of small and micro enterprises: on the one hand, it will give full play to the effect of tax reduction and fee reduction; On the other hand, monetary policy and financial supervision need to focus on alleviating the problem of financing difficulty and high cost for enterprises, especially private enterprises.

1. Give full play to the effect of tax reduction and fee reduction, and stimulate the vitality of scientific and technological innovation of small and micro enterprises

The government work report points out that in 22, large-scale tax reduction and fee reduction will be implemented in the fiscal and taxation field, which, combined with institutional arrangements, will reduce the burden on market players by more than 2.6 trillion yuan, including 1.7 trillion yuan in social security fees. Innovative macro-policy implementation methods, the establishment of a direct mechanism for the new 2 trillion yuan of central financial funds, the provincial finance to increase the sinking of funds, * * * for cities and counties to implement the policy of benefiting enterprises and benefiting the people in a timely manner to replenish financial resources. In order to give further play to the effect of tax reduction and fee reduction, it is encouraged to improve relevant tax policies according to the development characteristics of small and micro enterprises, such as increasing R&D deduction and establishing a cash return mechanism for R&D investment, that is, for small and micro enterprises with annual losses, a certain proportion of cash return is given according to their R&D investment as a useful supplement to tax preferential and tax base preferential policies.

accelerate the formulation of the mechanism of government purchasing intermediary tax services, and supplement the current tax service system and law enforcement auxiliary system. For small and micro enterprises, they can enjoy preferential tax policies to promote scientific and technological innovation, such as R&D bonus and accelerated depreciation. The government will invite qualified tax-related intermediaries to provide services such as accounting and tax declaration, which will alleviate the plight of small and micro enterprises with weak financial strength and insufficient tax staff, reduce the tax cost of small and micro enterprises, promote tax compliance and improve the quality and efficiency of tax collection and management. At present, in some demonstration cities of small and micro enterprise innovation bases, the "Science and Technology Innovation Voucher" initiative has been tried first, that is, the government pays for third-party accounting, consulting, law, management and other intermediary services, and has achieved good practical results.

Second, optimize the business environment of enterprises and reduce the difficulty and cost of financing for small and micro enterprises

The government work report points out that in 22, in order to support banks to increase loans and lower interest rates, the repayment of principal and interest for small and medium-sized enterprises will be postponed, and large commercial banks will benefit small and micro enterprises by more than 5%, and the financial system will make profits of 1.5 trillion yuan to the real economy. The next step is to speed up the improvement of the comprehensive financial service platform. It is suggested that local governments should concentrate the information resources of relevant functional departments, guide enterprises, banks and platforms to connect systematically, and reduce the difficulty and cost of commercial banks to carry out credit due diligence information inquiry.

improve the time limit for mortgage registration. It is suggested that the real estate registration department should strengthen cooperation with banks in an all-round way, realize one-stop acceptance of applications such as loans and mortgage registration at bank outlets through direct data connection, make full use of the banking service window to solve the problems of difficult mortgage registration and long time limit, shorten the time limit for real estate registration, and improve the efficiency of credit lending for small and micro enterprises.

explore the construction of an intellectual property trading platform. It is suggested to actively promote the establishment of a provincial-level intellectual property pledge financing service platform, and provide various services from project acceptance, value evaluation, financing guarantee, pledge registration, loan issuance to pledge disposal, operation and investment for intellectual property pledge financing of small and micro science and technology enterprises, and systematically solve the problems of evaluation, registration and circulation in the process of intellectual property pledge financing of small and micro science and technology enterprises.

Third, improve the local financial system and innovate measures to encourage banks and financing guarantee institutions

Give play to the guiding role of financial funds, and build a multi-level investment and financing service system with bank credit as the front end, investment guidance funds and private equity financing as the two wings, and financing guarantee and insurance as the support, so as to solve the financing difficulties of small and micro enterprises. Further reduce the market access threshold, support social capital to initiate the establishment or shareholding of commercial banks, and moderately increase the number of village banks. Vigorously support the standardized development of financial forms such as village banks, give full play to their relative advantages in relational credit, and fill the gap left by "large institutions are difficult to connect with small customers". Innovate financial support means to encourage banks and financing guarantee institutions to provide loans and guarantees to small and micro enterprises, and increase credit supply to small and micro enterprises.

further play the role of angel guiding fund and venture capital guiding fund, support the introduction and establishment of various risk funds, and guide private capital to invest in small and micro science and technology enterprises in the form of equity in a market-oriented way. Encourage local legal institutions to take advantage of the short product development chain and innovate credit products for small and micro enterprises that meet actual needs. For example, in view of the fact that short-term capital turnover of small and micro enterprises is difficult, we should develop short, flat and fast bridge-crossing products.

support local corporate banks to reduce costs. Government services such as cash deposits from the state treasury at all levels, and government payroll should be inclined to local corporate banks, and local corporate banks should be given priority in financing large-scale government projects.

strengthen the construction of financing guarantee system. Promote the development of financing guarantee industry, and focus on building a policy financing guarantee system based on government financing guarantee institutions and supplemented by other types of financing guarantee institutions, which mainly provides financing credit enhancement services for small and micro science and technology enterprises. Incorporate policy financing guarantee institutions into the credit information system of the People's Bank of China, increase the proportion of small businesses supported by policy financing guarantee institutions, and accelerate the establishment of provincial re-guarantee mechanisms.

Fourth, unblock the monetary transmission mechanism to ensure that the policy dividends benefit small and micro enterprises

It is the key to break through the "last mile" of monetary policy transmission and improve the internal fund transfer pricing system (FTP) of banks. Only when the bank has established a mature and perfect FTP can the liquidity released by the People's Bank of China really drive down the loan pricing, and then transmit the policy dividend to small and micro enterprises.

establish a unified fund flow monitoring system to ensure that the credit funds of small and micro enterprises are really invested in the real economy. At present, commercial banks only know the capital flow information within their own banks, and cannot monitor the cross-bank and cross-system capital flow. It is suggested that the People's Bank of China should establish a cross-system fund flow monitoring system based on the payment and clearing system, set corresponding monitoring and early warning indicators, and push them to commercial banks in real time, so as to provide a starting point for commercial banks to monitor the capital flow of customers in the whole process and ensure the accurate delivery of credit policies.

optimize the assessment and incentive measures for commercial banks. It is suggested that regulators should further improve the assessment and restraint mechanism of loan management for small and micro enterprises, adopt a positive incentive-oriented supervision, and give extra points and other incentives to commercial banks that have better business promotion in inclusive finance in terms of year-end assessment and approval of branch establishment, so as to further mobilize the enthusiasm of financial institutions to carry out business in inclusive finance.