Article/Mo Kaiwei, columnist of Sina Financial Opinion Leader Column (WeChat official account kopleader)
The key for financial institutions to promote consumption upgrading is to create a good, loose and reliable financial operating environment for consumption upgrading.
On September 20, the Central Committee of the Communist Party of China and the State Council issued Several Opinions on Improving the System and Mechanism of Promoting Consumption and Further Stimulating Residents' Consumption Potential (hereinafter referred to as the Opinions). The Opinions covered consumption policies in many fields such as food, clothing, housing and transportation, information consumption, culture, tourism, sports and pension, and also mentioned improving quality standards and credit systems to create a safe and secure consumption environment.
The most striking content of the Opinions is to further enhance the supporting role of finance in promoting consumption, encourage consumer finance innovation, standardize the development of consumer credit, and grasp the relationship between maintaining the reasonable leverage level of residents and the reasonable growth of consumer credit. Insurance companies are encouraged to provide financing and credit enhancement support for consumer credit on the premise of controllable risks.
So, as a financial institution, how to play the role of "catalyst" to promote consumption upgrading? The author believes that the key is to create a good, loose and reliable financial operating environment for consumption upgrading. At present, we should focus on four aspects:
First of all, the financial supervision department should create a safe and secure financial environment for financial consumers to consume, take the protection of the rights and interests of all financial consumers as an important part of financial supervision, and curb the occurrence of cases of infringement of the rights and interests of financial consumers. Establish a sensitive market supervision system that reflects the rights and interests of consumers, bring all consumer services of financial enterprises into the scope of effective supervision, introduce a mechanism to protect the rights and interests of financial consumers, accept complaints from financial consumers in the whole society, establish a working mechanism to quickly reflect and investigate, implement the protection of the rights and interests of financial consumers, and eliminate all fraud Fake and shoddy products and short weight behaviors occur, effectively rectify the chaos in the financial market, and create a good financial environment for the upgrading of consumption.
Secondly, to meet the needs of consumption upgrading and change and development, all kinds of financial institutions should increase the research, development and innovation of financial service consumption upgrading products, and launch financial products that meet the needs of people's consumption upgrading and diversified services. That is to change the traditional financial service model in the past, establish innovative thinking of consumer finance, focus on introducing consumer financial service products such as consumer installment, consumer deferred payment, consumer forward payment, high-end durable consumer goods mortgage credit, and effectively transform and expand the original consumer loans to enrich the content of consumer finance according to the needs of consumer quality improvement and upgrading changes, Constantly improve the level of consumer finance to meet the needs of the people for a better life.
Thirdly, financial institutions should properly handle the relationship between financial leverage reduction and ensuring the reasonable leverage of residents and the growth of consumer credit, and create a loose credit policy environment to ensure the reasonable growth of consumption. Financial institutions should not artificially compress and control appropriate and reasonable consumer credit demand on the pretext of residents reducing leverage and financial reducing leverage. Financial institutions are required to conduct in-depth market research, grasp the growth potential and changes of residents' consumption in their own jurisdictions, make more precise consumer credit arrangements, and adapt the scale of consumer credit to the actual consumer credit demand of local residents, Avoid the disconnection of consumer credit, let the consumer credit of financial institutions meet the legitimate, reasonable and effective credit needs of residents to the maximum extent, and provide new and unlimited financial impetus for the upgrading of residents' consumption.
Finally, insurance institutions, on the premise of ensuring that risks are controllable, give full play to the role of credit enhancement, provide good insurance credit enhancement for the upgrading of residents' consumption, and eliminate financial barriers to consumption upgrading. In this way, insurance institutions are required to play the role of guarantee and provide consumer insurance services to some consumers, that is, to improve insurance services to pure credit consumers without counter guarantee and solve consumer financing problems. With the help of this type of insurance, consumers can also obtain loans from banks without providing collateral, so that the financing cost composed of loan interest and insurance premium is comparable to that of mortgage Pledge loans are lower, which can stimulate consumers' consumption desire; At the same time, even if consumers have the risk of overdue loans, insurance companies will compensate banks, which can dispel the credit concerns of financial institutions, and is more conducive to promoting consumers to expand their consumption capacity, promoting the realization of consumption upgrading goals, and laying a firm financial foundation for stimulating domestic demand and driving economic growth.
(About the author of this article: well-known financial commentator and independent economist)
