Policy Interpretation： New Path, New Measures, New Situation, Utilizing New Generation Information Technology to Deepen Industrial and Financial Cooperation in the Field of Industrial Green Developmen

Green development is a major task based on the new development stage, implementing the new development concept, and building a new development pattern. As the main battlefield of the real economy, accelerating the green development of industry is an important way to comprehensively promote the green transformation of the economy and society. In order to better support the green development of industry, MIIT, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, and the Securities Supervision Commission jointly issued the "Guiding Opinions on Strengthening Industrial and Financial Cooperation to Promote Industrial Green Development", deployed a number of key tasks of industrial and financial cooperation, and comprehensively strengthened the service and support role of finance for industrial green development.

First, to open up a new situation of industrial green development, it is urgent to empower the depth of industrial and financial cooperation

The General Secretary of the Supreme Leader pointed out that during the "14th Five-Year Plan" period, the construction of ecological civilization in our country has entered a key period of focusing on carbon reduction, promoting the synergy of pollution reduction and carbon reduction, promoting the comprehensive green transformation of economic and social development, and realizing the improvement of ecological environment quality from quantitative change to qualitative change. Industry, as a key area of pollution reduction and carbon reduction, requires a large amount of capital investment in the research and development of green and low-carbon technologies, the green transformation of enterprise production management, and the optimization and adjustment of industrial structure layout.

However, there is still a large gap in the current funding supply in the field of green development, which is far from meeting the funding needs of green development. It is estimated that the overall scale of funding demand for achieving peak carbon dioxide emissions carbon neutrality in our country is more than 100 trillion yuan, and the annual funding demand is about 3.10 trillion to 3.60 trillion yuan. However, the annual funding supply in the field of green development is only about 520 billion yuan, and the funding gap exceeds 2.50 trillion yuan. Insufficient funding supply has become an important factor restricting the in-depth promotion of industrial green development. To accelerate the promotion of industrial green development, we must strengthen industrial and financial cooperation and effectively expand financial investment in the field of industrial green development.

Second, the new generation of information technology provides a new path for deepening industrial and financial cooperation

Industrial and financial cooperation is an important means to expand the supply of funds in the field of industrial green development and help the industry realize green transformation and upgrading. However, the current industrial and financial cooperation in the field of industrial green development still faces some problems and challenges, which are highlighted in the low degree of information sharing between Financial Institution Groups and industrial enterprises, the low efficiency of supply and demand docking, and the limited means of financial services. There are certain deficiencies in the breadth, speed, intensity, and accuracy of financial support for industrial green development. The new generation of information technology can help alleviate the pain points and difficulties faced by industrial and financial cooperation, and better play the role of industrial and financial cooperation in supporting industrial green development.

First, the new generation of information technology can promote information sharing between Financial Institution Groups and industrial enterprises, and expand the scope of industrial and financial cooperation. New-generation information technologies such as the Internet and big data are powerful tools to break down information silos, promote information openness, and promote information sharing. With the help of Internet platforms, big data technologies, etc., information related to green development of industrial enterprises can be integrated and shared at low cost and with high efficiency. This will help Financial Institution Groups fully grasp the specific situation of green development of industrial enterprises, alleviate the problem of information asymmetry between Financial Institution Groups and industrial enterprises, and help solve the problems faced by Financial Institution Groups in supporting green development of industry.

Second, the new generation of information technology can promote the precise docking of financing needs and capital supply, and improve the efficiency of industrial and financial cooperation. Relying on Internet technology and platforms, online docking channels can be established between industrial enterprises and Financial Institution Groups to help Financial Institution Groups grasp the financing needs of industrial enterprises in a timely manner, promote the efficient and accurate docking of capital supply and demand, and help industrial enterprises reduce financing thresholds and improve financing efficiency. For example, MIIT relies on the data resources of relevant units inside and outside the Ministry to lead the construction of the national industry and finance cooperation platform. From February 2021 to the end of October, more than 101,000 enterprises have been warehoused, covering 797 national Financial Institution Groups, and a total of 95.91 billion yuan of credit has been signed, which has effectively alleviated the financing problems of industrial enterprises.

Third, the new generation of information technology can promote the continuous innovation and improvement of financial products and services, and improve the level of industrial and financial cooperation. On the one hand, there are differences in the foundation and development path of industrial enterprises’ green development, and the corresponding financing needs are also different, which requires the Financial Institution Group to provide differentiated services to support. The new generation of information technology such as big data and artificial intelligence can help the Financial Institution Group to deeply understand the financing needs and related information of enterprises, and improve the level of personalization and precision of financial services. On the other hand, relying on traditional financial products and services is difficult to effectively meet the new requirements of industrial green development. It is necessary to accelerate the innovation of financial products and services in response to the trend of industrial green development. Cloud computing, blockchain, artificial intelligence and other new generation information technologies can help Financial Institution Groups innovate financial products and services, and enhance the ability and level of green development of the financial services industry.

III. The Guiding Opinions System Deploys New Measures to Strengthen Industrial and Financial Cooperation Using New Generation Information Technology

The "Guiding Opinions" closely focus on the main problems facing industrial and financial cooperation, accurately grasp the important role of the new generation of information technology in strengthening industrial and financial cooperation, and propose a number of measures to deepen the application of the new generation of information technology in industrial and financial cooperation, to promote industrial and financial cooperation to further consolidate the foundation, improve the level, and strengthen the ability of finance to support industrial green development in multiple directions.

The first is to build a climate and environmental information disclosure platform to promote the full sharing of information related to industrial green development. A sound climate and environmental information disclosure mechanism is an important foundation for promoting the development and growth of green finance and improving the level of capital investment in the field of industrial green development. The "Guiding Opinions" attaches great importance to the construction of a climate and environmental information disclosure mechanism, proposing to explore the establishment of a greenhouse gas emission information platform for industrial enterprises, and encourage enterprises to actively disclose relevant information with reference to mature experience. This measure aims to use the new generation of information technology to promote the full disclosure and open sharing of climate and environmental information, and build a solid foundation for financial support for industrial green development.

The second is to strengthen the construction of the national industry and finance cooperation platform and promote the efficient docking of industry and finance in the field of industrial green development. The national industry and finance cooperation platform has played an important role in promoting industry and finance docking and assisting enterprise financing, but the platform’s supporting role in industrial green development has not been fully realized. " Based on the existing foundation of the national industrial and financial cooperation platform, and facing the general trend of industrial green development, the Guiding Opinions propose to add a special area for "industrial green development" on the national industrial and financial cooperation platform, promote the unified registration and publicity system of "non-financial" data docking of movable property financing such as enterprise emission information, build and improve the platform ecology, and improve the quality and efficiency of platform services. A series of measures aim to further improve the platform construction, improve the efficiency of industrial and financial docking in the field of industrial green development, and help industrial enterprises green development financing needs to be effectively supported by the Financial Institution Group in a timely manner.

The third is to encourage Financial Institution Groups to use information technology to enhance the level of integration and innovation of financial products and services. In order to enhance the ability of Financial Institution Groups to support industrial green development, the "Guiding Opinions" strongly support Financial Institution Groups to use the new generation of information technology to optimize service capabilities and carry out financial innovation. On the one hand, the "Guiding Opinions" support Financial Institution Groups to rely on the new generation of information technology to conduct green digital portraits and automated assessments of industrial enterprises and projects, and improve personalized service capabilities. On the other hand, the "Guiding Opinions" encourage information technology enterprises to continuously explore new scenarios and new applications of new technologies in the financial field, carry out carbon accounting, carbon footprint certification business, provide financial solutions such as insurance based on behavioral data, and improve the level of green development of the financial services industry.