一张“明白纸”、告别糊涂账 企业贷款融资成本“晒在阳光下”

Core Viewpoint - The introduction of the "Loan Clarity Paper" aims to enhance transparency in corporate loan financing costs, allowing businesses to clearly understand all associated expenses beyond just interest rates, thereby reducing overall financing costs for small and medium-sized enterprises [1][2][3]. Group 1: Loan Clarity Paper Implementation - The "Loan Clarity Paper" details all costs associated with loans, including interest and non-interest expenses, and specifies payment methods and cycles, making hidden fees visible [2][3]. - The People's Bank of China initiated a pilot program in five provinces to standardize the disclosure of comprehensive financing costs for enterprises, which has now expanded to most provinces [1][3]. Group 2: Impact on Financing Costs - The average interest rate for new corporate loans was approximately 3.3% in the first half of 2025, a decrease of about 2.3 percentage points from the peak in late 2018, indicating a trend of declining loan rates [3]. - Non-interest costs, such as collateral fees and intermediary service fees, often contribute significantly to the overall financing costs, especially for small and private enterprises [4][5]. Group 3: Enhancing Trust and Transparency - The pilot program has led to an increase in trust between banks and enterprises, as businesses now have a clearer understanding of the costs involved, which helps in building a harmonious relationship [6][8]. - As of July 2025, the pilot regions had completed 880,000 transactions totaling 4.38 trillion yuan in cost disclosures, demonstrating the program's effectiveness in promoting transparency and reducing financing costs [7][8].