People's Bank of China National Oceanic Administration

Development and Reform Commission Ministry of Industry and Information Technology Ministry of Finance China Banking Regulatory Commission Securities Regulatory Commission

Guidance on improving and strengthening financial services for the development of the marine economy

In order to implement the major strategic plan of the party's 19th National Congress of "accelerating the construction of a maritime power" and the "13th Five-Year Plan", "expanding the blue economy space" and "promoting the construction of the Belt and Road", based on serving the real economy, optimizing finance Resources, under the premise of risk control and commercial sustainability, improve and strengthen the financial services for the development of the marine economy, and promote the transformation of the marine economy to quality and efficiency. The following comments are made:

1. Bank credit services

(1) Under the premise of complying with the regulatory policies, encourage qualified banking financial institutions to establish marine economic and financial services divisions, and legally establish marine fisheries, ships and marine engineering equipment, shipping, ports, logistics, marine technology and other financial services. The service center or the featured franchise organization gives a moderate inclination in terms of business authority, staffing, and financial resources. Orderly promote the normal development of private banks and enhance the financial service capabilities of small and micro enterprises in key areas of the marine economy.

(2) Encourage banking financial institutions to carry out mortgage loans for sea areas and non-resident islands in accordance with the principles of risk control and commercial sustainability. Actively and steadily promote mortgage loans for ships under construction and ocean-going vessels, and promote fishing mortgage loans. Development of export tax refund escrow accounts, aquatic product warehouse receipts, and sea-related assets such as docks, docks, and slips, etc.

(3) Encourage the use of syndicated loans, portfolio loans, joint credits and other models to support the construction of marine infrastructure and major projects. Actively carry out industrial chain financing for core enterprises with close cooperation and supporting small and medium-sized enterprises. Actively and steadily promote the “self-service and recyclable” credit model for fishermen.

(4) Encourage banking financial institutions to optimize the credit investment and structure around the national marine economic development plan. Increase credit support for large-scale, standardized deep-sea aquaculture and offshore fisheries enterprises, deep processing of aquatic products and cold chain logistics enterprises. Adhere to support and control, and focus on supporting ship and offshore engineering equipment manufacturing enterprises that are listed on the “white list” and have core competitiveness. Accelerate the promotion and development of emerging industries such as marine biomedicine, desalination and comprehensive utilization, development and utilization of marine new energy resources, and marine electronic information services, and promote the transformation of marine scientific and technological achievements. Actively develop financial products and service models suitable for coastal tourism, marine transportation and port logistics parks.

(5) The banking financial institution shall use the source of the first repayment of the sea-related enterprise as the main basis for credit approval. Strengthen the management of collateral, reasonably determine the pledge rate, ensure the validity of collateral registration, strengthen post-loan management and inspection, and effectively prevent and control the credit risk in the marine sector.

(VI) Banking financial institutions should strengthen the review of environmental and social risks of sea-related enterprises, establish and improve management systems and procedures, adhere to the implementation of the “one-vote veto system for environmental protection”, and strengthen the review of substantive compliance of environmental protection companies in sea-related enterprises. For credits involving major environmental and social risks, relevant information shall be disclosed in accordance with the law.

2. Equity and bond financing

(7) Actively support qualified high-quality, mature sea-related enterprises to be listed on the main board market. Explore the establishment of a project information cooperation mechanism between the marine sector and the securities regulatory authorities, and strengthen the cultivation, screening and reserve of small and medium-sized sea-related enterprises.

(8) Supporting high-quality sea-related enterprises in mature periods to issue corporate bonds, corporate bonds, and non-financial corporate debt financing instruments. Encourage small and medium-sized sea-related enterprises to issue small and medium-sized enterprises to collect bills and collect bonds, and support eligible sea-related enterprises to issue “double-created” special debt financing instruments and innovative startup corporate bonds. Explore the issuance of asset-backed securities for marine projects with mature operations and stable cash flow. Increase the use of green bonds.

Third, insurance services and security aspects

(9) Encourage qualified places to subsidize marine fishery insurance. Standardize the development of fishery mutual insurance such as fishing boats and fishermen, and actively explore the integration of marine aquaculture into the scope of mutual insurance. Explore the establishment of marine catastrophe insurance and reinsurance mechanisms. Accelerate the development of shipping insurance, coastal tourism special insurance, marine environmental liability insurance, and loan-related insurance for sea-related enterprises. Promote short-term trade insurance, overseas investment insurance, and expand the coverage of export credit insurance in the marine sector.

(10) Encourage insurance companies to set up professional insurance asset management institutions and increase investment in marine industries. Encourage insurance funds to invest in the establishment of marine industry investment funds. Encourage China's insurance investment funds to increase investment in major projects and projects in the marine sector.

Fourth, diversified financing channels

(11) Supporting qualified financial institutions, offshore engineering equipment enterprises, and large-scale shipping enterprises to initiate the establishment of financial leasing companies in accordance with procedures.

(12) Supporting sea-related enterprises to conduct cross-border financing under the framework of macro-prudential management of full-scale cross-border financing. Promote the development of shipping finance and innovate the hedging financial instruments involved in the sea.

(13) Accelerate the promotion of government and social capital cooperation (PPP) models in the areas of infrastructure construction, fishing port construction, seawater desalination and comprehensive utilization in the marine economic demonstration zone. Encourage financial institutions to use the investment-loan linkage model to support high-tech SMEs in the sea under the premise of legal compliance and controllable risks.

(14) Actively introduce venture capital funds and private equity funds. Develop and expand the China Ocean Development Foundation and actively play the role of the Foundation in supporting the development of the marine economy.

V. Investment and financing service system

(15) Strengthen information sharing between government, enterprises and financial institutions, and build a public service platform for investment and financing of the marine industry. Establish a database of quality projects, and encourage financial institutions to actively select and enter the warehouse and obtain quality projects recommended by the marine administrative department.

(16) Establish and improve the registration system for marine property rights pledges based on the Internet and centralized and unified throughout the country. Establish a unified sea-related property evaluation standard. Standardize the listing and trading of marine property rights.

Sixth, policy support

(17) Strengthen the implementation of the credit policy and guide financial institutions to improve and improve the financial services for the development of the marine economy. Use monetary policy tools such as refinancing and rediscounting to guide financial institutions to increase credit support for the marine sector. Further guide banking financial institutions to enhance their risk pricing capabilities and enhance the flexibility of loan interest rates for marine economic enterprises.

(18) Increase support for the construction of marine economic demonstration zones, select regions with mature marine economic development and good financial service base, explore financial reform and innovation with the theme of financial support for blue economy development, and concentrate on superior resources. Try it first. Encourage government-backed financing guarantee institutions to carry out marine industry-related businesses as required.

(19) Strengthen coordination and cooperation in policies such as finance and industry. Encourage banking financial institutions in key areas of the marine economy to strengthen statistical monitoring and effect evaluation of financial support for the development of the marine economy.

Invites relevant departments of the People's Bank of the province, autonomous region, and municipality directly under the Central Government, the marine, development and reform, finance, industry, and information administration departments, the banking regulatory bureau, the securities regulatory bureau, and the insurance regulatory bureau to forward this opinion to relevant institutions in the jurisdiction. In light of local conditions, strengthen the organization and leadership of marine economic and financial services, formulate and improve specific measures for the development of financial services in the region, and coordinate the implementation of this opinion.