Guangdong introduces sixteen financial measures to empower traditional industries for optimization and upgrading

People’s Finance News, March 30—To help traditional industries make the leap from “scale advantages” to “quality advantages,” the Guangdong Financial Regulation Bureau has recently formally issued the Notice on Financial Support for the Optimization and Upgrading of Guangdong’s Traditional Industries, unveiling 16 special financial support measures. By establishing a “4+4+4” working mechanism, it will empower the transformation of traditional industries and inject fresh financial momentum into high-quality development. It is understood that, during the process of optimizing and upgrading traditional industries, new financial needs have emerged, while the traditional lending models that rely on balance sheets and collateral guarantees can no longer adequately meet the characteristics of transformation-oriented enterprises that are asset-light, iterate quickly, and grow rapidly. To address this issue, Guangdong’s “16 Measures” for traditional industry finance make multiple breakthroughs. They specify optimization directions in four areas—credit management, risk control systems, talent development, and incentive mechanisms—to break through bottlenecks in financial service mechanisms. They also improve the fit of financial products across four links—research and development innovation, manufacturing and production, brand building, and market sales. In addition, by relying on four supporting mechanisms—financing + financial intelligence, fiscal + finance, headquarters + branches, and industry standards + exemplars—it will pool the combined efforts of the government, financial institutions, industry associations, and other parties to form a coordinated support framework. Next, the Guangdong Financial Regulation Bureau will promptly summarize its distinctive practices in providing financial support for the optimization and upgrading of traditional industries. It will guide financial institutions within its jurisdiction to focus on the core demands of optimizing and upgrading clusters of traditional industries, and summarize a set of financial empowerment model practices that are replicable and scalable, so as to truly promote deep integration between the modern services sector and manufacturing, and contribute “financial strength” to help traditional industries regain new vitality. (CCTV News)