President of central bank's Shenzhen branch lectures on financial support for real economy

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Xing Yujing, president of the Shenzhen branch of the People's Bank of China (PBOC), was invited to give a lecture on customizing financial services to meet enterprises' needs in a symposium hosted on July 2 by the Luohu District Committee of the Communist Party of China (CPC). [Luoohu.com]

Xing Yujing, president of the Shenzhen branch of the People's Bank of China (PBOC), was invited to give a lecture on customizing financial services to meet enterprises' needs in a symposium hosted on July 2 by the Luohu District Committee of the Communist Party of China (CPC).

All major leaders of Luohu, including the Luohu Party Chief Luo Yude and district mayor Liu Zhiyong, attended the event, which was based on reviving the economy and industries, and more than 1,000 people took part in the main venue or watched it live online in the other 14 branch venues.

In her lecture, Xing pointed out that to strengthen its financial support measures to enterprises, the PBOC, China's central bank, has worked together with multiple ministerial departments to roll out a package of economic policies to encourage commercial banks to apply more tailor-made financial policy tools. In doing so, they will help the hard-hit enterprises in the COVID-19 pandemic, particularly the micro, small, and medium-sized firms, to overcome temporary difficulties.

Meanwhile, she also introduced some practices of the PBOC's Shenzhen branch and how they have helped the local enterprises in Shenzhen to resolve their difficulties in obtaining loans and other financial services. In particular, she described how the branch has prompted commercial banks to take the initiative to contact enterprises and get to know their needs.

The listeners said they benefited tremendously from her lecture, which had no lack of statistics, theories and case studies.

The financial sector is a pillar industry in Luohu. The district was the first among all districts in Shenzhen to establish a work consultation mechanism with the PBOC's Shenzhen branch to help coordinate the commercial banks' offers with the demands of enterprises.

Liu Zhiyong said the hope is that the PBOC's Shenzhen branch can continue to support Luohu's development and help local enterprises to weather the storms they face.

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