People’s Bank of China Shanghai Headquarters: Guide financial institutions to increase loans to the real economy in the second half of the year
◎Reporter Wei Qian
On August 4, the Shanghai Headquarters of the People’s Bank of China held a work conference for the second half of 2022. The meeting requested that in the second half of 2022, the Shanghai headquarters should continue to implement the monetary policy, support the development of the real economy, and deepen financial reform, opening up and innovation. Guide financial institutions to increase loans to the real economy and maintain stable credit growth.
In the first half of the year, the Shanghai Headquarters of the People’s Bank of China earnestly implemented the requirements of the Head Office for RRR cuts and the loan market quoted rate (LPR) reform, gave full play to the precise drip irrigation role of monetary policy tools, guided local corporate financial institutions to reasonably control the pace of credit issuance, and promoted the stability of corporate financing costs. drop.
At the same time, the Shanghai Headquarters of the People’s Bank of China issued 20 guiding opinions to further improve financial support for epidemic prevention and control and economic and social development, instructing financial institutions within their jurisdiction to innovate and expand their businesses, and taking precise measures to help market players. Guide Chinese-funded banks to increase credit assistance to enterprises and provide loan support for enterprises in difficulties such as anti-epidemic and supply enterprises, catering and retail.
The meeting made arrangements for the key work in the second half of the year from five aspects. Including: deepening comprehensive and strict governance of the party; helping Shanghai to speed up economic recovery and revitalization; promoting financial reform and innovation; optimizing financial management services; strengthening financial risk monitoring and management.
The meeting called for creating a favorable monetary and financial environment, guiding financial institutions to increase loans to the real economy, maintaining stable credit growth, and promoting stable and moderate real loan interest rates. Increase credit support for key areas such as infrastructure, inclusive small and micro businesses, green development, technological innovation, and transportation and logistics.
Regarding financial reform and innovation, the meeting requested that the pilot policy of high-level opening up of cross-border trade and investment in the Lingang New Area should continue to be implemented and its effects manifested. Deepen the construction of Shanghai as an international financial center and speed up the innovation of green finance. Continue to promote the cross-border use of RMB, and support banks to carry out RMB overseas loan business and cross-border RMB settlement services for new foreign trade formats.
The meeting proposed to intensify the innovation of the digital RMB pilot; promote the reduction of payment service fees and profits; urge commercial banks to improve the aging of cash services; improve the convenience of treasury services, promote cross-province and remote electronic tax payment business; further improve the Shanghai area The working mechanism for protecting the rights and interests of financial consumers.
The meeting demanded that prudent management of real estate finance continue to be implemented steadily. Cooperate to prevent and deal with the risk of virtual currency trading speculation, and promote the solution of the existing business of P2P online lending institutions. At the same time, strengthen risk monitoring in the bond market and money market; strictly prevent bank account risks, and increase the crackdown on gambling and fraud; strengthen the supervision of payment institutions; Fund flow monitoring and foreign exchange situation analysis.
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Responsible editor: Zhang Wen