Core Viewpoint - Shenzhen, recognized as the "first city of foreign trade" in China, is actively implementing measures to stabilize foreign trade through financial support from various banking institutions [1][2]. Group 1: Financial Measures - Five banks in Shenzhen, including Bank of China and Industrial and Commercial Bank of China, have launched "financial stability for foreign trade" measures since May 2023 [1][2]. - The "Micro Trade Loan" product, specifically designed for foreign trade enterprises, was introduced by the Export-Import Bank of China Shenzhen Branch in collaboration with other financial institutions [1][2][3]. - The Export-Import Bank is providing low-cost special funds, while WeBank offers automated approval and precise pricing for the loans [2][3]. Group 2: Economic Performance - Shenzhen's foreign trade is projected to reach 4.5 trillion yuan in 2024, marking a 16.4% year-on-year increase, with both imports and exports hitting historical highs [1][2]. - In April 2023, Shenzhen's import and export volume was 404.61 billion yuan, reflecting a 3.8% year-on-year growth [2][6]. - The city has maintained a strong resilience in foreign trade, achieving significant growth despite challenging international trade conditions [2][6]. Group 3: Collaborative Model - The financial support model involves a collaboration among policy banks, digital banks, insurance providers, and government information platforms, creating a comprehensive support system for foreign trade enterprises [2][5]. - The "Micro Trade Loan" aims to address the financing difficulties faced by small and micro foreign trade enterprises, with a focus on reducing financing costs and improving access to funds [3][5]. Group 4: Future Commitments - Shenzhen banks have committed to providing substantial credit support to foreign trade enterprises, with plans to offer at least 1.8 trillion yuan in credit and 180 billion USD in international trade settlement support by 2025 [4][5]. - The local government continues to encourage financial institutions to enhance their support for foreign trade enterprises, aiming to foster high-quality development in this sector [5][6].

Core Viewpoint - The private economy is a vital force in advancing Chinese modernization and is essential for high-quality development, with recent legislation aimed at enhancing financial services for private enterprises to boost their confidence and promote healthy development [1] Group 1: Financial Support and Policy Mechanisms - There is a need to lower the financing threshold for private enterprises by establishing a new credit assessment system that utilizes various data sources to quantify creditworthiness, moving away from traditional collateral-based lending [1][2] - Continuous financial support is crucial for private enterprises, requiring the establishment of policy mechanisms that ensure stable funding sources, such as the Central Bank's targeted medium-term lending facility (TMLF) [2] - A risk-sharing model involving government, banks, and insurance is essential to protect banks' interests while managing fiscal risks, alongside differentiated regulatory assessments to encourage lending to private enterprises [2] Group 2: Ecosystem Reconstruction and Financial Innovation - The reconstruction of the financial ecosystem is necessary, utilizing supply chain finance to create an "industry cloud platform" that integrates upstream and downstream enterprises, thereby reducing bad debt rates and controlling risks [3] - Digital infrastructure improvements, such as the creation of a "financial data port," will enhance the ability to generate enterprise profiles quickly, facilitating better financial services for private enterprises [3] - Incorporating ESG principles into financial service models is a potential avenue for innovation in supporting private enterprises [3] Group 3: Capital Market Engagement - The capital market serves as a crucial platform for direct financing of private enterprises, with the establishment of various boards expanding financing service coverage for small and medium-sized enterprises [4] - A comprehensive range of financial services, including equity financing, bond issuance, and asset securitization, is available to meet the diverse financial needs of private enterprises at different development stages [4] - The development of a full-cycle financing chain from angel investment to the main board market is essential for addressing the funding needs of private enterprises throughout their lifecycle [4]