迈向普惠金融2.0：股份行如何构建独树一帜的生态模式？

Core Insights - The banking industry is undergoing a significant transformation towards a digital and ecological model in the era of inclusive finance 2.0, with joint efforts from banks, government, and park management to enhance financial support for small and micro enterprises [2][3][4] Group 1: "园区贷" (Park Loan) - "园区贷" connects finance and industry through industrial parks, addressing the financing challenges faced by small and micro enterprises by leveraging park credit value and operational data for accurate credit assessment [2][3] - Various cities have implemented policies to support "园区贷," with Shenzhen and Beijing leading initiatives to enhance financial backing for enterprises within parks [3][4] - The model shifts from traditional single-enterprise lending to a systematic approach focusing on the entire park as a customer group, allowing banks to deepen their engagement in inclusive finance [3] Group 2: Supply Chain Finance - Supply chain finance offers a new path for banks to acquire customers by serving core enterprises and their upstream and downstream partners, significantly improving financing success rates for small and micro enterprises [5][6] - Data from the "China Enterprise Supply Chain Finance White Paper (2025)" indicates that financing success rates for small and micro enterprises can increase by over 40% when leveraging core enterprise credit, with costs reduced by 20-30% [5] - The model integrates various flows (contract, invoice, cash, goods, data) to enhance efficiency and transparency, distinguishing it from traditional financial services [5] Group 3: 投贷联动 (Investment-Loan Linkage) - 投贷联动 combines bank credit and equity investment to support high-growth, high-risk tech enterprises, addressing the mismatch between loan returns and risks [7][8] - The exploration of 投贷联动 has been ongoing since 2016, with banks encouraged to pilot this model to better serve tech enterprises [7] - Two main models exist: internal linkage with bank investment subsidiaries and external linkage with VC/PE firms, with the latter being more flexible and widely adopted [8][9] Group 4: Future Outlook - The integration of internal and external investment strategies through AIC (Asset Investment Company) will enhance the ability of banks to provide comprehensive financial solutions, creating a sustainable business path for inclusive finance [9]