Chinese People’s Political Consultative Conference (CPPCC) national Committee member Zhu Dingjian: Financial services and support “should be postponed as long as possible”

2022-06-05 0 By

Chu, chairman and chief executive of Mission Hills group, has been a member of the CPPCC since 2013, and this year will be his 10th.At last year’s national two sessions, Chu presented a special proposal on empowering the tourism industry through financial innovation.In his opinion, due to the huge investment, long return period and relatively low profit in the comprehensive leisure tourism industry, tourism enterprises, especially large-scale scenic spot tourism enterprises, do not have much space for investment imagination in the capital market.Therefore, most tourism projects or enterprises in China have narrow financing channels, mainly debt financing, equity financing is limited, and only a small number of cultural and tourism enterprises can conduct equity financing in the secondary market.”In addition to the difficulties encountered in the financial market, the tourism industry has been hit by the epidemic in the past two years. There are many factors that cannot resist, and the cost pressure has increased compared to the past.”Chu said.Chu noted that in addition to the 10 inclusive measures for the service sector, the Policies also put forward seven specific measures for the tourism industry.”The policy reflects the government’s care and support for the service sector. The tax and fee cuts and financial support measures introduced this time are very precise. For example, it says that we will ‘guide financial institutions to increase their preference for distressed industries, especially the service sector’, which coincides with my proposal last year.I believe that this support policy is of great significance to the service industry, especially small, medium and micro enterprises.I look forward to the local government quickly implementing the relevant rules, so that the government’s care and care can effectively and quickly help relevant enterprises, and promote the further improvement of the national service industry.”Chu said.”Several Policies” involves a number of fiscal, tax, financial and other aspects of support policies, the support of these fiscal policies made Chu feel the real “financial temperature”.As mentioned in several Policies on tourism bailout support measures, “We will guide financial institutions to reasonably lower the interest rate of new loans, and actively offer profits to tourism enterprises suffering from production and operation difficulties affected by the epidemic.We encourage qualified tourism enterprises to issue corporate credit bonds and broaden diversified financing channels for tourism enterprises.”These in Chu ding Kin’s view, are really good policies.”The introduction of these policies will greatly relieve the operating pressure of our tourism enterprises, which have huge initial investment, long recycling cycle and are labor-intensive.”Mr Chu said.In his opinion, with the upgrading and development of domestic tourism, the most important financial support for enterprises is the continuous innovation of financial services and financial instruments to help tourism enterprises to obtain sustainable and diversified financing channels.And “a number of policy” mentioned in the “strengthening the cooperation of the fact, establish and improve the key tourist enterprise project financing needs library” reasonable “to encourage the banking financial institutions to increase effective supply of credit” tourism and cost benefit policy of financial system, etc., have all helped to broaden the tourism enterprises of diversified financing channels, greatly reduce the cost is high, the financing difficulties of small and medium-sized micro tourism enterprises.”Through financial reform and innovation, we will enable the development of China’s tourism industry to make new contributions to the internal circulation of China’s economy. We also expect that financial services and support for the tourism industry can be postponed as long as possible.”Chu said.Disclaimer: This article is reproduced for the purpose of conveying more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: