Xin Lang Cai Jing·2025-05-29 09:24Core Viewpoint - The recent financial policies introduced by the Chinese government are more aggressive than previous measures, focusing on boosting consumption, stabilizing foreign trade, supporting enterprises, and promoting technological innovation, with a faster implementation and broader coverage than market expectations [1] Group 1: Financial Policy Measures - The Central Political Bureau of the Communist Party of China emphasized the need for more proactive macroeconomic policies, utilizing both fiscal and monetary tools effectively [1] - Zhejiang Commercial Bank announced 20 specific measures across eight areas to implement the financial policy, focusing on technology, foreign trade, and consumption [1] Group 2: Support for Technology - Zhejiang Commercial Bank aims to leverage the re-lending policy for technological innovation and plans to issue technology innovation bonds, targeting an increase of 10 billion in technology financial loans for the year [1][2] - The bank serves 30,712 technology enterprises with a financing balance of 367.4 billion, emphasizing the importance of talent in credit assessments for technology firms [2] Group 3: Support for Foreign Trade - The bank will implement special support policies for foreign trade, ensuring no loan withdrawals and providing options for loan renewals or repayment arrangements [2] - By 2025, the bank aims to achieve a total of 17 billion in cross-border financing for private enterprises, addressing the needs of foreign trade companies [2] Group 4: Support for Consumption - A consumption loan doubling plan will be implemented, increasing the maximum self-payment limit for quality personal consumption loans to 500,000, with a term of up to 7 years, targeting an additional 10 billion in personal credit consumption loans by 2025 [2][3] - The bank will focus on both income and demand sides to stimulate consumption, aligning with national priorities to enhance domestic demand [3] Group 5: Support for Small and Micro Enterprises - The bank will strengthen cooperation with government financing guarantee institutions to support small and micro foreign trade enterprises, with a projected loan issuance of 160 billion for small and micro loans in 2025 [3] - As of April 2025, the bank has issued over 2 trillion in small micro loans, with a balance of over 350 billion in inclusive small micro loans [3] Group 6: Financial Performance - In 2024, Zhejiang Commercial Bank reported a revenue of 67.65 billion, a year-on-year increase of 6.19%, and a net profit of 15.19 billion, up 0.92% from the previous year [3] - The total assets reached 3.33 trillion by the end of 2024, reflecting a growth of 5.78%, with total loans and advances amounting to 1.86 trillion, an increase of 8.21% [3]