On September 29, the National Development and Reform Commission held a special press conference to introduce the situation related to promoting capacity expansion and quality improvement in the service industry. In response to reporters' questions, Che Shiyi, deputy director of the Credit Marketing Department of the People's Bank of China, said that in recent years, in order to accelerate the development of the service industry and support financing of various emerging business formats and new service scenarios, the People's Bank of China, together with relevant departments, introduced a series of policy measures to improve financial products and services and promote increased supply of high-quality services. It has mainly carried out the following four areas of work. The first is to strengthen financial policy support for the service sector. Establish a financial policy system to support the private economy, boost and expand consumption, entrepreneurship and employment, etc., and issue relevant comprehensive documents to create a financial environment conducive to the development of the service industry. Focusing on service industry segments, it focuses on productive service industries such as technology services, logistics and transportation, as well as lifestyle services such as pension, cultural tourism, and sports, to support special financial support policies and products. The second is to play the role of a structural monetary policy tool. Make good use of structural monetary policy tools such as service consumption and pension reloans, scientific and technological innovation and technological transformation reloans, agricultural support small reloans, and private enterprise reloans to encourage and guide financial institutions to increase credit investment in the service industry. The third is to strengthen the construction of financial infrastructure services. The People's Bank of China continues to improve a diversified payment service system, deepen the construction of payment scenarios such as pension cafeterias and medical care, improve the environment for accepting foreign cards, and optimize foreign-related payment services. High-quality credit reporting services help the public to use performance information to show their credit and improve credit availability based on their own credit. The People's Bank of China gave full play to the credit reporting service main channel function of the basic financial credit information database and innovatively deployed a national financial flow credit information sharing platform for micro, small and medium-sized enterprises to help business entities to better achieve financing development by relying on their own good credit. In addition, the People's Bank of China is also actively promoting a unified registration and publicity system for movable property financing, continuously improving the quality and efficiency of registration of movable property and rights guarantees such as inventory, orders, warehouse receipts, and financial leases. Fourth, optimize financial products and services in the service industry. In recent years, the People's Bank of China has actively guided financial institutions to provide differentiated and personalized products and services around the financial needs of the service industry in multiple scenarios and business formats, and increased credit loan investment in traditional service industries such as wholesale and retail, accommodation and catering, and relied on data such as operating flow and tax payments to ease corporate capital turnover problems. In the field of culture, sports and entertainment, it focuses on specialty products such as scenic area renovation, cultural and creative product development, sports event planning, etc., and innovative project revenue pledges and cultural and creative copyright pledges. For people's livelihood fields such as old-age care and domestic service, medium- and long-term loans are provided to support the construction of pension and childcare institutions, and active credit and loan repayment models are provided to facilitate the financing and development of small and micro private domestic service enterprises. Promote products such as intellectual property pledge loans and talent loans for science and technology service fields such as information technology services. By the end of the second quarter of this year, the balance of medium- and long-term loans in the national local and foreign currency service industry was 76.22 trillion yuan, up 6.4% year on year. The growth rate was 1.3 percentage points higher than various loans, and the development of the financial support service industry had achieved remarkable results.

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