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Domestic News
1. State Administration of Financial Regulation: The term of fixed asset loans is generally not more than 10 years, and the term of personal consumption loans shall not exceed 5 years
2. State Financial Supervision Bureau: Working capital loans shall not be used for shareholder dividends and shall not be used for investment in financial assets, fixed assets, equity and so on
3. State Administration of Financial Supervision and Administration: Reasonably expand the purpose of fixed asset loans and working capital loans and the scope of loan objects
4. Ministry of Foreign Affairs: China has always opened its arms and sincerely welcomes enterprises from all over the world to invest in China
International News
1. French industrial output increased sharply at the end of last year
2. The airport company of Thailand expects 8 million Chinese tourists to visit Thailand this year, double the number of last year
3. The market development is unfavorable and the government assistance is slow, and Intel has postponed the construction of a $20 billion chip project
4. Sources: The positive signal about the ceasefire in Gaza is a conspiracy by the Israeli media
Domestic News
1. State Administration of Financial Regulation: The term of fixed asset loans is generally not more than 10 years, and the term of personal consumption loans shall not exceed 5 years
The term of fixed asset loans is generally not more than 10 years. If it is really necessary to apply for a loan with a term of more than 10 years, the head office of the lender shall be responsible for the examination and approval, or the corresponding level shall be prudently authorized to be responsible for the examination and approval according to the actual situation. In principle, the term of the working capital loan shall not exceed three years, and the maximum period of recovery of operating cash flow shall not exceed five years. The term of a personal consumption loan shall not exceed five years. The term of personal business loans is generally not more than five years, and the maximum is not more than ten years for those with a long recovery period for operating cash flow corresponding to the purpose of the loan. In addition, if the relevant state departments have other provisions on the loan term of real estate loans, personal housing loans, personal student loans, automobile loans, etc., relevant provisions should be continue to be implemented.
2. State Financial Supervision Bureau: Working capital loans shall not be used for shareholder dividends and shall not be used for investment in financial assets, fixed assets, equity and so on
Responsible persons of relevant departments and bureaus of the State Administration of Financial Supervision answered reporters' questions on the "Measures for the Administration of Fixed Asset Loans", "Measures for the Administration of Working Capital Loans" and "Measures for the Administration of Individual Loans". Fixed asset loans refer to loans in domestic and foreign currencies issued to legal persons or unincorporated organizations for the borrower's investment in fixed assets. Investment in fixed assets refers to the construction, purchase and transformation of fixed assets by the borrower in the course of business. Second, the Measures for Circulating Loans clearly state that working capital loans refer to loans in domestic and foreign currencies issued by lenders to legal persons or unincorporated organizations for the borrower's daily business turnover. Working capital loans shall not be used for dividends to shareholders, shall not be used for investment in financial assets, fixed assets, equity, etc., and shall not be used for fields and purposes prohibited by the state from production and operation. Third, loans for intellectual property rights such as patents and copyrights, as well as other intangible assets such as mining rights, may be implemented with reference to the Fixed Loan Measures according to the business characteristics and operation mode of the loan project, or the Measures for Circulating Loans may apply.
3. State Administration of Financial Supervision and Administration: Reasonably expand the purpose of fixed asset loans and working capital loans and the scope of loan objects
The State Administration of Financial Supervision and Administration promulgated the Measures for the Administration of Fixed Asset Loans, the Measures for the Administration of Working Capital Loans, and the Measures for the Administration of Personal Loans. The main contents of this revision are: first, to reasonably broaden the purpose and scope of loan objects of fixed asset loans and working capital loans, and optimize the calculation requirements of working capital loans to meet the actual needs of the credit market. The second is to adjust and optimize the standard of entrusted payment amount, appropriately extend the time limit requirements for entrusted payment, and improve the flexibility of entrusted payment. Third, in combination with the online needs of credit processing, we should clarify the forms of handling such as video interviews and off-site investigations, and adapt to new financing scenarios. Fourth, it is necessary to clarify the requirements for loan terms, guide commercial banks to effectively prevent the risk of loan term mismatch, and further optimize the loan structure. Fifth, we should further strengthen credit risk management and control, and promote commercial banks to improve the standardization of credit management. Sixth, the Provisions on the Administration of Project Financing Business will be included in the Fixed Loan Measures as a special chapter.
4. Ministry of Foreign Affairs: China has always opened its arms and sincerely welcomes enterprises from all over the world to invest in China
On February 2, Foreign Ministry Spokesperson Wang Wenbin held a regular press conference. According to Wang Wenbin, the "Survey Report on China's Foreign Business Environment in the Fourth Quarter of 2023" shows that more than ninety percent of the surveyed foreign-funded enterprises are satisfied with China's business environment, and foreign-funded enterprises in China continue to be optimistic about China's economic development prospects and are full of confidence in the Chinese market. Wang Wenbin said that recently, the International Monetary Fund raised China's economic growth forecast in 2024 and raised the global economic growth forecast to 3.1% in 2024, believing that China's economic recovery will accelerate and will become an important boost to the development of the world economy. Wang Wenbin said that China has always opened its arms and sincerely welcomes enterprises from all over the world to invest in China, and will continue to create a first-class business environment that is market-oriented, law-based and international.
International News
1. French industrial output increased sharply at the end of last year
In December, French industrial output climbed again, which gave some encouragement against the backdrop of a eurozone-wide economic downturn. France's industrial output rose 1.1% in December from the previous month, data released by France's National Statistics Office on Friday, a markedly higher increase than economists' expectations of a 0.2% increase. However, the statistics office warned that the total number of unusual working days related to school holidays in December was not included in the standard seasonal change calculation, affecting monthly output growth in some sectors. As a result, the seasonally adjusted data may overestimate the increase in output in December.
2. The airport company of Thailand expects 8 million Chinese tourists to visit Thailand this year, double the number of last year
Kerati Kijmanawat, president of the Airports Corporation of Thailand (AOT), said on February 1 that 8 million Chinese tourists are expected to visit Thailand this year, driven by the mutual visa exemption policy between China and Thailand. According to data released by the National Tourism Authority of Thailand last month, the number of foreign tourists visiting Thailand in 2023 exceeded 28 million, including 3.5 million Chinese tourists. Claudi said the company is ready for a sharp increase in flights and passenger numbers, which are expected to increase by 200% during the Lunar New Year period. The Airports Corporation of Thailand operates 6 airports, including Bangkok's Suvarnabhumi International Airport.
3. The market development is unfavorable and the government assistance is slow, and Intel has postponed the construction of a $20 billion chip project
According to the Wall Street Journal, Intel (INTC. O) is delaying the construction timeline of its $20 billion chip manufacturing plant project in Ohio due to market challenges and slow disbursement of grant funding from the U.S. government. According to the initial timeline, chip manufacturing will begin next year, but relevant sources revealed that the current construction of the project's production facilities is not expected to be completed until the end of 2026. The project is one of the largest chip projects underway in the United States, with the CHIPS Act two years ago creating $53 billion in incentives for the domestic chip industry, and while the Biden administration is expected to issue billions of dollars in grants to major chip companies in the coming weeks, no large grants have yet been awarded. At the beginning of the pandemic, chip sales were booming, but as people returned to their previous habits, the purchasing power of electronics weakened, and the chip shortage turned into an oversupply. In response, Intel has taken measures such as laying off employees, cutting dividends, and seeking investment cooperation to help offset the high capital costs of chip factory construction.
4. Sources: The positive signal about the ceasefire in Gaza is a conspiracy by the Israeli media
According to the Times of Israel, a senior Palestinian source told the Lebanese news outlet Al-Mayadeen that Qatar appeared to be stealing the concept by announcing in advance that Hamas had preliminarily approved the ceasefire agreement. According to the source, the Hamas leadership has not yet scheduled a meeting in Cairo with Egyptian mediators to discuss the proposal, and that "this statement is hasty and incorrect", and these positive signals are a conspiracy by the Israeli media to stir up public expectations for a new agreement.
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