Core Insights - Small and micro enterprises (SMEs) are crucial to the economic development of Henan, acting as "capillaries" for job creation, livelihood improvement, and innovation promotion [2] - The financing challenges of SMEs, characterized by difficulty, slowness, and high costs, have been addressed through a coordinated financing mechanism established by the national government [2][3] - As of the end of June, the financing coordination mechanism in Henan has visited 7.43 million SMEs, granted credit to 1.0752 million entities, and issued loans to over 1 million SMEs, with a total credit amount of 1.04 trillion yuan and loans amounting to 946.498 billion yuan [2] Financing Coordination Mechanism - The mechanism has successfully expanded the number of first-time loan recipients to 125,300, with a total first loan amount of 68.498 billion yuan [3] - The mechanism emphasizes rapid and direct access to financing for SMEs, establishing a bridge for precise connections between banks and enterprises [3] - The average interest rate for loans issued through this mechanism is 3.66%, a reduction of 0.32 percentage points compared to before the mechanism's implementation, effectively lowering financing costs for SMEs [4] Future Directions - The Henan financial regulatory authority aims to deepen the financing coordination mechanism, focusing on maintaining loan volume, improving quality, stabilizing prices, and optimizing structure [5] - The goal is to ensure that SMEs can access loans efficiently and effectively, allowing financial resources to be more accurately directed towards these enterprises [5]