In order to thoroughly implement the decision-making and deployment of the Party Central Committee and The State Council, curb the behavior of banking institutions such as multi-financing, excessive financing, and "big households", and effectively prevent and resolve financial risks, the China Banking and Insurance Regulatory Commission recently issued the "Notice on Further doing a good job in the pilot work of joint credit" (hereinafter referred to as the "Notice"). We will guide banking financial institutions to further strengthen credit management, improve the relationship between banks and enterprises, and optimize the allocation of credit resources.

In 2018, the China Banking and Insurance Regulatory Commission issued the "Management Measures for Joint Credit Granting by Banking Financial Institutions (Trial)" to carry out joint credit granting work in a pilot manner. On the whole, the joint credit mechanism operates well and has played an important role in improving the level of bank credit risk control, strengthening information sharing, and improving the corporate financing structure. The Notice does not change the specific provisions of the Measures for the Management of Joint Credit Granting by Banking Financial Institutions (for Trial Implementation), and further puts forward the requirements for deepening the pilot work of joint credit granting on the basis of summarizing the experience of the previous pilot and combining the new situation and new problems.

The Notice consists of 12 parts, From the full understanding of the significance of joint credit, timely determination of the list of enterprises, remote institutions actively participate in joint credit, strengthen joint risk prevention and control, consolidate the responsibility of the lead bank, strengthen the accountability of performance, deepen cooperation between banks and enterprises, further play the role of self-regulatory organizations, play the synergistic effect with the debt committee, do a good job in combating the work of evasion and cancellation of debt, increase policy publicity, standardize information submission And other aspects put forward specific requirements.

In the next step, the China Banking and Insurance Regulatory Commission will continue to guide banking financial institutions to deepen the pilot work of joint credit, strive to build medium - and long-term bank-enterprise relations, and constantly improve the quality and efficiency of service to the real economy.

Managing Editor: Yuan Hao