On June 27, the "Second Quarter Government Bank Enterprise Matchmaking Meeting for the Elderly Care Industry" jointly held by the Department of Civil Affairs of Shaanxi Province, Shaanxi Branch of the People's Bank of China and Shaanxi Regulatory Bureau of the State Administration of Financial Supervision was held at the project headquarters of the "the Belt and Road" Yinfa Economic Industrial Park. Li Ping, member of the Party Group and Deputy Director of the Provincial Department of Civil Affairs, attended the meeting and delivered a speech. Nearly 100 representatives from financial institutions, elderly care enterprises, and industry associations in the province attended the meeting.

Policy Empowerment: Building a New Pattern of Pension Finance

It is reported that in 2024, Shaanxi has launched a combination of pension financial policies. The Provincial Department of Civil Affairs, in conjunction with multiple departments, has successively issued documents such as the Notice on Fully Utilizing Science and Technology Innovation and Technological Transformation for Re lending and Special Re lending for Inclusive Elderly Care, and the Implementation Plan for High Quality Development of Shaanxi Elderly Care Finance, establishing a policy framework system.

During last year's Xi'an Elderly Expo, 13 financial institutions granted a total of 116.5 billion yuan in credit to support the development of the elderly care industry, "said the person in charge of the Elderly Care Industry Department of the Provincial Department of Civil Affairs

Data shows that by the end of 2024, the number of elderly people aged 60 and above in our province reached 8.87 million, accounting for 22.4% of the province's population, and the degree of aging is 0.4 percentage points higher than the national average. In the face of this situation, the Central Economic Work Conference first proposed "old-age refinancing", and the People's Bank of China immediately set up a special refinancing line of 500 billion yuan. The head of the Elderly Care Industry Office emphasized, "This injects a stimulant into the development of the elderly care industry, and all types of entities should make full use of the policy dividends

Facing the Challenge: Cracking the Pain Points of Difficulty in Landing

Despite unprecedented policy support, the relevant person in charge of the elderly care industry department admitted that there is still room for improvement in the implementation results. In 2024, the "Hundred Billion Action" actually disbursed 11.454 billion yuan, with a landing rate of only 11.5%; The special refinancing business for inclusive elderly care only lent 25 million yuan; The landing rate of funds for the signed projects at the Xi'an International Fair is less than 15%.

This reflects the problems of insufficient precision and inadequate role of docking platforms in elderly care finance, "the relevant person in charge of the Elderly Care Industry Office analyzed and pointed out," especially the low participation of social capital, which restricts the vitality of industrial development

At the meeting, the Civil Affairs Bureau of Yangling Demonstration Zone, Sanyuan County High tech Zone, Shangluo Health and Wellness Group, Yinfa Economic Industrial Park in Linwei District, Weinan City, Xianyang High tech Zone and other units introduced the relevant situation of the elderly care industry and released investment and funding requirements.

In response to these issues, the meeting put forward practical suggestions and measures, hoping that financial institutions can simplify lending procedures and develop credit loan products; Expand the coverage of refinancing and include new quality productive elderly care enterprises in the scope of support; Insurance institutions need to innovate pension insurance types and develop risk hedging products; Fully leverage the demonstration effect of "insurance capital entering Shaanxi" and participate in the establishment and operation of pension industry funds.

Collaborative Innovation: Creating a New Paradigm for Bank Enterprise Cooperation

As a platform for connecting the elderly care industry to overcome difficulties in financing and slow conversion, this matchmaking event has facilitated multiple practical collaborations. Professor Yang Gang's team from Xi'an University of Electronic Science and Technology, as well as research institutions such as Huichuang Intelligent Sensing Technology Co., Ltd., conducted product promotion and reached intentions with financial institutions to promote the transformation of scientific research achievements.

The relevant person in charge of the Elderly Care Industry Department stated that they will establish a long-term mechanism, regularly hold government bank enterprise docking meetings, and focus on promoting financial institutions to provide "patient capital" and develop 8-10 year financing tools; Enterprises use funds in compliance to achieve the transformation from "blood transfusion" to "blood production"; Government, banks, and enterprises jointly build an information platform and implement penetrating supervision.

It is worth noting that the conference further deployed the "Seven Ones" basic project, including writing a blue book on pension finance, conducting research projects, and formulating industry standards, to lay a solid foundation for the development of the industry.

Towards the Future: A New Landscape of Silver Hair Economy

Representatives attending the meeting expressed that through this matchmaking event, they have gained a clearer understanding of the development opportunities of pension finance. The relevant person in charge of a certain bank said, "We will launch a 'pension loan' exclusive product and establish a green approval channel." Representatives of pension enterprises are looking forward to: "We hope to receive funding support with longer terms and lower costs

It is reported that the Provincial Department of Civil Affairs will establish a quarterly scheduling mechanism in the next step, regularly verify the implementation of loans, and ensure precise drip irrigation of financial vitality. With the continuous release of policy dividends such as a 500 billion yuan refinancing, Shaanxi's elderly care industry is entering a golden period of high-quality development.

During the same period, the Provincial Department of Civil Affairs organized business training from June 25th to 27th, mainly covering three aspects: policies for the development of the silver economy, standardization of the elderly care industry, and elderly care finance.

Source: Shaanxi Net