Wang Xiaofei, head of Hunan Hengsheng Industrial Co., Ltd., said the new production line was put into operation as scheduled for a loan of 5 million yuan the company obtained thanks to “Xiaoxiang Financial Loan”, a credit loan product for government-bank cooperation led by the finance department of Hunan Province.

This case vividly reflects the Jiahe County Finance Bureau’s efforts to cultivate a fertile ground for the development of the private economy and activate new driving forces for the private economy.

In recent years, the Finance Bureau of Jiahe County has thoroughly implemented the decisions and arrangements of the central and provincial governments to promote the development of the private economy.

In addition, it has also launched a package of targeted and efficient reform measures to reassure private enterprises for investment and operation.

Considering that it often took much time and cost to solve commercial disputes, the Finance Bureau of Jiacao County has upgraded the commercial dispute mediation room and cross-provincial workstations, established a bankruptcy assistance mechanism, and innovated the incentive mechanism for mediators with a fund of 1 million yuan to establish a complete guarantee system.

On this basis, it has innovated the integrated model involving government-court cooperation and fiscal guarantee, established a “two-way feedback” mechanism for dispute resolution and policy implementation.

As of now, more than 30 commercial disputes have been resolved, and economic losses amounting to over 10 million yuan have been recovered.

To help solve difficult financing and high costs problems for private enterprises, the Jiahe County Finance Bureau has implemented tax reduction and fee reduction policies, and established a precise push mechanism to ensure the benefits can be fully enjoyed by all eligible parties.

Drawing on the experience of Zhejiang's “government procurement loan”, it has built a tripartite docking platform, and this year, it has disbursed 215.2 million yuan through Xiaoxiang Financial Loan to more than 20 private enterprises.

Based on the needs of enterprises, the county finance bureau innovated its service model to enhance quality and efficiency. It has established a leadership team to sort out and address problems and demands of different enterprises.

Regarding the short supply of labor, it has held 41 livestreaming session for recruitment through multiple channels, which helped 82 companies recruit 883 employees. It has worked with several departments to build a guarantee system for education and housing, for which helped 60 children of employees enrolled in schools and 28 talents have their housing problems settled.

At the same time, it has innovated the “one-stop and digital” service model, setting up a dedicated window for private economy services, and launching “one-stop online service”, with the processing time reduced by more than 50%. Besides, a special fund of 5 million yuan is allocated annually for talent development to assist enterprises in retaining core talents.

Next, the Finance Bureau of Jihao County will continue to deepen the reform of the fiscal system, injecting continuous fiscal impetus into the high-quality development of the private economy through further efforts in terms of policies, services and guarantees.

Chinese source: rednet