Under the theme of Empowering Small and Micro Businesses to Promote Economic Development, the small and micro economy development forum, jointly sponsored by the Postal Savings Bank of China (PSBC) and Renmin University of China (RUC), was held in Beijing on July 13th. Liu Wei, President of RUC, and Zhang Jinliang, Chairman of PSBC, delivered addresses respectively. Liu Yuanchun, Vice President of RUC, gave a comprehensive presentation to the report “Empowering Small and Micro Businesses to Promote Economic Development”, the findings of a research in small and micro economy conducted jointly by PSBC and RUC. Wu Xiaoqiu, Vice President of RUC, and Xu Xianchun, former Deputy Director of the National Bureau of Statistics, delivered speeches after the theme report. Vice President Shao Zhibao of PSBC, Professor Wang Guogang from RUC’s School of Finance, Zhang Wenkui, Deputy Head of the Enterprise Research Institute under the Development Research Center of the State Council, Zhou Junping, Deputy Director of Medium and Small Business Development and Promotion Center of the Ministry of Industry and Information Technology, and others, attended a round-table discussion.

Liu Wei pointed out that, changes in the domestic and international environment have brought some challenges to small and micro businesses and small and micro economy in terms of market, financing and transformation. Most small and micro businesses are facing with such problems as insufficient market demand, difficult product sales, heavy market competition pressure, and difficulties in accessing affordable financing, etc. In view of these issues, he hopes that through close exchanges with relevant institutions RUC can deepen the industry-academia-research collaboration, and provide more academic and intellectual support for the high-quality development of China's economy.

Zhang Jinliang said that financial support is crucial to the development of small and micro businesses. Rendering excellent financial services to small and micro businesses and promoting their healthy development are concrete actions PSBC has taken to serve the real economy and deepen the financial supply-side structural reform. In the process of delivering financial services to the small and micro businesses, it should be noted, according to Chairman Zhang Jinliang, that strategic positioning is the prerequisite, technology empowerment is the core, professionalism and dedication is the foundation, fine management is the guarantee, and asset quality is the bottom line.

During the round-table discussion, Shao Zhibao introduced that PSBC has innovated a featured model for small and micro financial services, which involves the 4 systems of marketing, products, operation and risk control, and is guaranteed by specialized institution, mechanism and work forces, and backed up by the two pillars of advanced technology and corporate culture, thereby known as “432” model. This new model enables PSBC to provide better financial services for small and micro businesses in a sustainable context.