To implement the top-level decisions on promoting private investment and expanding effective investment, the National Development and Reform Commission(NDRC) organized a launch meeting on a pilot investment-financing cooperation mechanism on July 7th. Yang Yinkai, Vice Chairman of NDRC attended and gave a speech, and Zhang Shixin, Deputy Secretary-General of NDRC presided over the meeting. Heads from 7 banks (including China Development Bank, Agricultural Development Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and China CITIC Bank) participated and delivered speeches. Department of Fixed Asset Investment of NDRC and SIC signed the framework agreement with business departments of 7 banks.

It was pointed out that the pilot investment-financing mechanism serves as an innovative instrument to implement the top-level decisions for more private investment and effective investment. We must have a profound understanding in the significance and necessity to initiate such a mechanism to focus on key tasks of pumping up private investment and effective investment,while establishing a new model for investment-financing and playing its role.

It was emphasized that the pilot mechanism shall be interconnected and shared between on-line investment platform and credit system of banks for the purpose of working consistently to give full play to both policy support and financing services. On the one hand, online investment platform should share information of private investment projects and major national projects with banks as to guide banks to strengthening financing support. The information shared by the platform includes investment subject, construction content and approval items, with which banks are able to accelerate the progress of loan examination. On the other hand, banks should share information of project loans and progress with the platform to help the investment departments stay on top of the financing and progress of the projects, for a stronger capacity in ongoing and ex post oversight.

The launch called for closer cooperation and joint working by parties involved in the pilot mechanism, It is necessary to implement tasks orderly and steadily with focus on key junctures in the timeline, and to adjust the scope of cooperation banks under the principle of ‘in and out’ at a timely manner so as to ensure the work under the mechanism to be completed with high quality.

About 100 participants attended the ceremony at the main venue, including people from relevant departments of NDRC, the banks and SIC. About 500 participants from provincial-level Development and Reform Commission including autonomous regions, municipalities, cities specifically designated in the state plan attended at the sub-venues.