Original Title: Notice on Issuing and Implementing the “Special Action Plan for Financial Support to Accelerate Project Construction”
Notice on Issuing and Implementing the “Special Action Plan for Financial Support to Accelerate Project Construction”
Development and Reform Commissions of all cities; Financial Offices of the Jinan and Qingdao Municipal Party Committees; Local Financial Regulatory Bureaus and Energy Bureaus of all cities; People’s Bank of China branches in all cities and the Qingdao Branch; China Development Bank branches in Shandong Province and Qingdao; Shandong and Qingdao branches of all policy-based banks; Postal Savings Bank of China branches in Shandong Province and Qingdao; Hengfeng Bank; provincial-level branches of all joint-stock commercial banks; and relevant equity investment institutions:
To thoroughly implement the spirit and deployment requirements of the Central Economic Work Conference and relevant meetings of the Provincial Party Committee and Provincial Government, promote the synergistic efforts of industrial and financial policies, fully ensure the accelerated implementation of various projects across the province, expedite the generation of tangible output and investment-driven growth, and effectively enhance the quality and efficiency of financial services to the real economy, we have formulated the “Special Action Plan for Financial Support to Accelerate Project Construction.” This plan is hereby issued to you; please ensure its thorough implementation.
Shandong Provincial Development and Reform Commission Office of the Financial Affairs Committee of the CPC Shandong Provincial Committee
Shandong Provincial Energy Bureau People’s Bank of China, Shandong Branch
March 5, 2024
Special Action Plan for Financial Support to Accelerate Project Construction
To promote the synergistic efforts of industrial and financial policies, strengthen the critical role of financial services in supporting national strategies, the real economy, the green transformation and upgrading of industries, and social welfare and livelihood security, and to effectively enhance the quality and efficiency of financial services to the real economy, the Special Action Plan for Financial Support to Accelerate Project Construction is hereby formulated as follows:
I. Objectives of the Initiative
Adhering to the principles of “allocating resources to projects” and “pursuing investment and financing simultaneously,” we will deepen the financial partnership mechanism, implement the Special Action Plan for Financial Support to Accelerate Project Construction, and establish a multi-channel investment and financing support model covering the entire project lifecycle. This will further improve the efficiency of financial resource allocation, inject fresh capital into project construction, fully ensure the accelerated implementation of all types of projects across the province, promote the rapid generation of tangible output and investment-driven growth, and contribute to the development of a pilot zone for green, low-carbon, and high-quality development.
II. Action Plan
(1) Financing Matchmaking.Fully leverage existing provincial-level key project databases to identify and recommend eligible projects with financing needs, focusing on the province’s major strategies, key priorities, and industrial sectors. Following the principle of “recommending projects as they become ready,” compile a list of financing projects for the “Accelerated Run” initiative. Categorize these projects into bank loan-based and equity financing-based projects based on their characteristics and funding requirements, and submit them to the Provincial Party Committee’s Financial Affairs Office, the People’s Bank of China’s Shandong Branch, relevant financial institutions, and equity investment firms.Financial institutions will provide tailored financing services based on the preferences of project-developing enterprises and their intended partner banks, adhering to the principle of “one project, one team.”
(2) Policy Guidance. Focusing on major national and provincial strategies, major planning layouts, and major industrial policies, development and reform departments will regularly conduct briefing sessions for financial institutions. Particularly in areas such as highly specialized industrial policies and green finance, they will strengthen the explanation, communication, and compliance consultation regarding relevant policies and specific projects to alleviate information asymmetry, achieve better coordination between industrial and financial policies, and help financial institutions enhance their capacity to support the province’s major strategies and key projects.
(3) Resource Support. Development and Reform departments at all levels will strictly enforce industrial policy requirements and strengthen compliance reviews of procedures to ensure that submitted projects do not violate regulations regarding industrial policy, land use planning, ecological environment, energy and coal consumption, or social credit. They will fully leverage the coordination mechanism for promoting key effective investment projects to help projects slated for lending accelerate the securing of necessary resources and expedite project implementation.
(4) Platform Development. Based on project types, characteristics, financing needs, and key milestones, organize and conduct multi-level government-bank-enterprise financing matchmaking events—categorized by sector, track, and region—at least four times a year. Establish a convenient and targeted platform for government-bank-enterprise cooperation and exchange, build long-term and stable relationships among these parties, and promote mutually beneficial cooperation.
(5) Information Sharing. Leveraging the Provincial Public Credit Information Platform and the Financial Partner System, we will strengthen the collection and free sharing of credit-related information—such as tax records and utility payments—that financial institutions urgently require. We will vigorously promote the “Credit-Easy Loan” initiative, conduct joint modeling with financial institutions, and assist banks and other financial institutions in enhancing their risk assessment capabilities. By building a “credit bridge” between financial institutions and enterprises, we will continuously increase the proportion of credit-based loans.Leveraging the carbon finance platform, we will establish comprehensive carbon accounts for industrial enterprises, provide carbon credit reports to financial institutions, and build a closed-loop service matrix spanning from the research and development of carbon finance products to the monitoring and analysis of benefits, using digital technology to accelerate the business development of both supply and demand sides in the carbon finance sector.
(6) Service Optimization
1. All financial institutions shall provide differentiated preferential policies and services to “Accelerated Development” projects in areas such as dedicated credit quotas, preferential interest rates, service coordination, expedited credit approval processes, and financial product innovation, while assigning dedicated financial partner teams on a one-to-one basis.
2. Projects submitted will be classified and managed according to a “red-yellow-green” system. For green-light projects (those meeting credit disbursement criteria), a streamlined green approval channel for financing will be established to actively facilitate review commitments, contract signing, and disbursement. Where necessary, approval authority will be elevated to ensure tangible work output is achieved as soon as possible;For "Yellow Light" projects (those eligible for funding after coordination), strengthen coordination and communication with relevant departments to ensure timely provision of necessary credit disbursement elements; for "Red Light" projects (those ineligible for funding), summarize and categorize them, analyze and assess the prominent contradictions and common issues hindering project implementation, and promptly report findings to the Provincial Development and Reform Commission, the Provincial Party Committee’s Financial Affairs Office, and the People’s Bank of China’s Shandong Branch.
3. When establishing various project databases and organizing the submission of investment projects, the relevant departments of the Provincial Development and Reform Commission shall, based on existing project databases, simultaneously update statistical information such as project financing needs, proposed partner banks (3–5 institutions), and contact persons.Departments responsible for finance and economic affairs in each city may proactively recommend projects that support local economic and social development. They shall regularly track financing progress—quarterly for provincial-level key projects (provincial major projects and provincial key projects) and semi-annually for other projects—and analyze and resolve existing issues.
III. Work Requirements
(1) Establish a Financial Liaison Officer System. Each department within the Provincial Development and Reform Commission with project management responsibilities shall designate one financial liaison officer, and each financial institution shall designate one project service specialist. This will strengthen policy communication, project coordination, and information sharing, and facilitate collaborative efforts to advance the implementation of all tasks under this special campaign.
(2) Implement the Project Collaborative Management Mechanism. Development and Reform Commissions at all levels, the People’s Bank of China, departments responsible for local financial management, and financial institutions must strengthen coordination and cooperation. They shall effectively implement the four mechanisms—the “list-based system” for projects, the “accountability system” for coordination, the “proactive service system,” and the “problem-list system”—to jointly advance all tasks related to financial support for project construction.
1. Project “List System”: Based on project categories and industrial sectors, the Provincial Development and Reform Commission, in conjunction with the Provincial Energy Bureau, will establish a categorized and dynamically updated “Fast-Track” financing project list for financial support of project construction (Annex 2). This list will clarify project funding needs and financing intentions and be promptly disseminated to the Provincial Party Committee’s Financial Affairs Office, the People’s Bank of China Shandong Branch, all financial institutions, and all equity investment institutions.
2. “Accountability System”: The lead financial institutions and financial partner teams handling project credit operations shall conduct in-depth visits and surveys of enterprises, assist in analyzing their operational status, refine loan conditions, and follow up on financing needs, establishing a “one-file-per-enterprise” financial service archive for each company.
3. “Early Engagement” Service: During project investment promotion and due diligence phases, support financial institutions in getting involved early to assist with project financing plans and preliminary planning, optimize financing methods and the financing chain, enhance financing capabilities, mitigate investment and financing risks, and prevent projects from stalling or even resorting to financial fraud due to financing issues.
4. “Issue List System”: The Development and Reform Commission, the People’s Bank of China, and all financial institutions must fulfill their respective duties. They should establish issue lists addressing key challenges such as ensuring essential project resources, loan applications, and bottlenecks in credit disbursement. These lists must clearly define tasks, responsible units, and deadlines, and strengthen coordination, supervision, and implementation.
(3) Strengthen Monitoring and Accountability for the Special Campaign. All financial institutions shall utilize the Financial Partner System to report progress on financing matchmaking to the Provincial Development and Reform Commission based on the list of service projects, with provincial-level key projects reported quarterly and other projects reported semi-annually. The Provincial Development and Reform Commission, the Provincial Party Committee’s Financial Affairs Office, and the People’s Bank of China Shandong Branch shall establish a joint incentive mechanism, regularly report the progress of the special campaign to the Provincial Government, and commend relevant financial institutions with notable achievements at the end of the year.
(4) Strengthen Analysis and Assessment, and Optimize and Improve.Development and Reform Commissions at all levels, the People’s Bank of China, and departments responsible for local financial management, in collaboration with financial institutions, shall strengthen multi-party coordination mechanisms. They shall thoroughly summarize innovative practices and exemplary experiences in project applications and financial services, and promote replicable best practices. By focusing on typical cases for in-depth analysis, they shall thoroughly examine bottlenecks and challenges in financing matching as well as their underlying causes, formulate specific and feasible policy recommendations, and promptly report them to the Provincial Development and Reform Commission, the Provincial Party Committee’s Financial Affairs Office, and the People’s Bank of China Shandong Branch.
Contact Information: Wu Yan, Provincial Development and Reform Commission, 0531-51783135; Wang Shuai, Provincial Party Committee Financial Affairs Office, 0531-51783031; Liu Jianlei, People’s Bank of China Shandong Branch, 0531-86167322.
Attachments: 1. Industrial Finance “Dual Investment” Coordination Mechanism
2. List of Financing Projects in the "Accelerated" Project Construction Support Program
Attachment 1
Industrial Finance “Dual Investment” Linkage Mechanism
Article 1 To promote the synergistic implementation of industrial and financial policies, effectively enhance the quality and efficiency of financial services to the real economy, and establish a coordinated investment and financing support mechanism—comprising investment-loan linkage and investment-venture capital linkage (“Dual Investment”)—that serves the entire lifecycle of project construction.
Article 2 Investment-Loan Linkage refers to “investment + credit,” whereby commercial banks provide financing support for project construction. Investment-Venture Linkage refers to “investment + venture capital,” whereby venture capital firms and funds make equity investments in enterprises.
Article 3 The Provincial Development and Reform Commission is responsible for leading the establishment of the “Dual Investment” linkage mechanism between the industrial and financial sectors, promoting effective coordination between government policy support and banking financing services, ensuring comprehensive implementation from industrial planning and project construction to the provision of essential resources, and facilitating effective integration from funding pools and policy packages to project databases.
Article 4: Improve the interconnection and data sharing between the National Development and Reform System’s online investment platform and the banking credit system, sharing information on major projects with banks; establish a categorized, dynamically updated list of financing projects to accelerate project construction through financial support, and distribute it to financial institutions to guide banks in increasing their financing support. Financial institutions shall share data on project loans and construction progress to assist development and reform departments in promptly monitoring project financing and implementation status.
Article 5: Guide equity investment institutions to actively participate in investments in high-tech and high-growth projects in our province. The Provincial Development and Reform Commission shall regularly recommend high-quality prospective investment enterprises to equity investment institutions and organize project inspection, matching, and roadshow activities such as the “Venture Capital Fund Qilu Tour” and “Insurance Capital into Shandong.”
Article 6: Focusing on major national and provincial strategies, major planning initiatives, and major industrial policies, regular briefing sessions will be conducted for financial institutions to strengthen the explanation, communication, and compliance consultation regarding relevant policies in key sectors and specific projects.
Article 7 Financial institutions shall provide differentiated preferential policies and services for “dual investment” linkage projects in areas such as special credit quotas, preferential interest rates, service coordination, accelerated credit approval processes, and financial product innovation, and shall assign dedicated financial partner teams on a one-to-one basis; equity investment institutions shall leverage their own strengths to provide project enterprises with comprehensive post-investment management and services, including strategic guidance, financing support, human resources, operations, and business coordination.
Article 8: Based on project type, characteristics, financing needs, and key milestones, organize multi-tiered, sector-specific, track-specific, and region-specific financing matching events for investment-loan and investment-investment linkage. Establish a streamlined and targeted cooperation and exchange platform among government, banks, enterprises, and service providers to accelerate the implementation of linkage projects and quickly generate tangible output and investment-driven growth.
Article 9: Monitor and report on the progress of financing matchmaking activities across financial institutions, establish a joint commendation and incentive mechanism, and regularly report the progress of the special campaign to the provincial government.
Article 10: Thoroughly summarize innovative practices and exemplary experiences in project application and financial services, and promote replicable best practices. Focus on analyzing typical cases in depth to identify bottlenecks and challenges in financing matchmaking and their underlying causes, and propose concrete and feasible policy recommendations to effectively ensure the implementation of the “dual investment” linkage mechanism.
Appendix 2
Financial Partners Help Project Construction “Pick Up the Pace”
List of Financing Projects
1. Provincial Major Projects
2. Provincial Key Projects (High-Quality Development Projects)
3. "Dual-Purpose (Peak and Emergency)" Projects
4. Provincial Key Projects for the "Seven Networks" Infrastructure
5. Key Water Conservancy Projects with Loan Requirements in Reserve
6. Provincial Key Digital Industry Projects
7. Provincial Key Projects in Modern Services
8. Provincial New Urbanization Projects
9. Provincial Key Carbon Finance Projects
10. Provincial Transformation Finance Projects
11. Medium- and Long-Term Loans for Manufacturing Projects
12. Financing Projects for Technology-Based Enterprises
13. Venture Capital/Equity Financing Projects
