On July 15, 2022, Hu Youyi, President of China Aggregates Association, Zhao Jing, deputy Secretary-General, Yang Xiaodong, deputy Secretary-General, and other CAA colleagues visited Industrial and Commercial Bank of China (ICBC), Beijing Haidian West Branch. The two sides exchanged ideas on providing financial services in the aggregates industry.

Li Xiaomin, Vice President of ICBC Haidian West District Sub-branch, expressed welcome and introduced the basic situation of ICBC and its interest and attention to the aggregates industry.

Hu Youyi introduced the status quo and development trend of the aggregates industry.

The two sides had a pround communication on the financial services, real economy and the aggregates industry.

Recently, the General Office of the China Banking and Insurance Regulatory Commission issued the "Notice on Further Promoting the High-quality Development of the Financial Services for Manufacturing Industry", which stated:

Large state-owned banks should optimize the allocation of economic capital, favor manufacturing enterprises, and promote the continued rapid growth of medium and long-term loans to the manufacturing industry.

Increase credit loans and initial loans to market players such as high-tech enterprises, "specialized, special and new" small and medium-sized enterprises, and technology-based small and medium-sized enterprises.

Banking institutions should focus on the weak links in the development of the manufacturing industry, make good use of the existing financial support policies, and actively help enterprises with good credit in the early stage but who are temporarily in distress due to the Covid-19 pandemic, and avoid blindly withdrawing, cutting off, and suppressing loans.

Insurance institutions should improve the risk protection level of manufacturing enterprises, improve scientific and technological insurance services, increase the protection of intellectual property rights, increase scientific research materials and equipment and protection of the quality of scientific research achievements, and promote the first set of major technical equipment insurance and the first pilot application of insurance compensation mechanism for new materials.