2023-07-15 03:38:06
The credit structure continues to optimize and enhance the momentum of economic development – the relevant person in charge of the central bank explains the financial data in the first half of the year in detail
Xinhua News Agency, Beijing, July 14. Title: The credit structure continues to optimize and enhance the momentum of economic development—the relevant person in charge of the central bank explains the financial data in the first half of the year in detail
Xinhua News Agency reporter Wu Yu
In the first half of this year, my country’s credit structure continued to optimize, the financing cost of the real economy declined steadily, and financial support for the economy continued to strengthen. Which fields are the credit mainly invested in? What will be the direction of monetary policy in the future? At the press conference held by the State Council Information Office on the 14th, the person in charge of the People’s Bank of China analyzed the financial statistics in the first half of the year in detail and responded to hot issues.
Strong support for the real economy
“The sound monetary policy is precise and powerful, and the counter-cyclical adjustment is increased to promote the overall improvement of economic operation.” Liu Guoqiang, deputy governor of the People’s Bank of China, said at the press conference that day, from the perspective of the total amount, liquidity is reasonable and sufficient, supporting the real economy In terms of structure, the credit structure continued to be optimized and the momentum of economic development was enhanced.
Data show that in the first half of the year, my country’s RMB loans increased by 15.73 trillion yuan, an increase of 2.02 trillion yuan year-on-year. Among them, new loans to enterprises (institutions) amounted to 12.81 trillion yuan, accounting for 81.5% of the total credit increment.
“New loans are mainly invested in key areas such as manufacturing and infrastructure industries.” Ruan Jianhong, director of the Survey and Statistics Department of the People’s Bank of China, introduced at the press conference that at the end of June, the balance of medium and long-term loans in the manufacturing industry increased by 40.3% year-on-year, compared with the same period last year. 10.7 percentage points higher; the balance of medium and long-term loans in the infrastructure industry increased by 15.8% year-on-year, 3.3 percentage points higher than the same period last year.
In addition, financial institutions continue to increase their support for key areas and weak links of the national economy such as inclusive finance and technological innovation. At the end of June, the balance of “specialized, special and new” SME loans increased by 20.4% year-on-year, 9.1 percentage points higher than the growth rate of various loans; the balance of inclusive small and micro loans increased by 26.1% year-on-year, 14.8 percentage points higher than the growth rate of various loans.
In addition, the cost of corporate financing and resident credit has declined steadily. In the first half of the year, the weighted average interest rate of newly issued corporate loans was 3.96%, 25 basis points lower than the same period of the previous year; the weighted average interest rate of newly issued individual housing loans was 4.18%, 107 basis points lower than the same period of the previous year.
There is still sufficient policy space to deal with unexpected challenges
“Financial data has rebounded significantly, and there are many bright spots.” Liu Guoqiang said that in the first half of the year, the financial sector strengthened targeted support for key areas such as private small and micro enterprises and manufacturing, and steadily promoted the construction of major projects. Resident loans increased reasonably, and costs fell steadily. Support the recovery of macroeconomic performance.
The data shows that at the end of June, the proportion of fund payment and utilization of policy development financial instruments exceeded 70%; in the first half of the year, new personal business loans increased by 759.3 billion yuan year-on-year, and new personal short-term consumption loans increased by 401.9 billion yuan year-on-year.
“The power of scientific and technological innovation continues to increase, the green transformation is steadily advancing, the consumer market is gradually recovering and upgrading, and the strength of high-quality development is constantly accumulating.” In Liu Guoqiang’s view, China’s internal development potential is strong, and market expectations are generally stable, effectively coping with the external environment. environmental change.
In recent months, my country’s prices have dropped. Liu Guoqiang believes that my country’s macro economy is recovering steadily, broad money (M2) maintains rapid growth, my country’s monetary conditions are reasonable and moderate, and residents’ expectations are stable. As the effects of policies continue to emerge, the gap between supply and demand will be further bridged. After August, CPI is expected to start to rise gradually. .
According to Zou Lan, director of the Monetary Policy Department of the People’s Bank of China, the People’s Bank of China will step up macro-control efforts, implement a sound monetary policy accurately and forcefully, and comprehensively use various monetary policy tools such as the deposit reserve ratio, medium-term lending facilities, and open market operations. To maintain a reasonable and sufficient liquidity in the banking system, to maintain a reasonable growth in money and credit, and to promote a steady decline in the cost of corporate financing and residents’ credit.
Improving the accuracy of real estate financial policies by applying policies according to the city
In the first half of the year, the real estate market showed a stabilization trend, which was also reflected in the financial data. The reporter learned from the press conference that in the first half of the year, a total of 3.5 trillion yuan in personal housing loans was issued, which was more than 510 billion yuan more than the same period last year; the cumulative increase in development loans was more than 420 billion yuan, an increase of about 200 billion yuan year-on-year. The year-on-year growth rate of medium and long-term loans in the industry has increased for 11 consecutive months.
Although the issuance of personal housing loans increased significantly, the balance of personal housing loans declined year-on-year. Zou Lan said that this is mainly due to changes in the price relationship such as wealth management yields and mortgage interest rates, and the phenomenon of residents using deposits or reducing other investments to repay existing loans in advance has increased significantly. “We support and encourage commercial banks to independently negotiate with borrowers to change contractual agreements, or to replace existing loans with new loans.”
“Since the beginning of this year, the real estate market as a whole has stabilized, but it will take some time for some real estate companies to gradually digest the long-term accumulated risks.” Zou Lan said that the relationship between supply and demand in my country’s real estate market has undergone profound changes, and the financial sector will actively cooperate with relevant departments to strengthen Policy research, implement policies according to the city to improve the accuracy of policies.
Recently, the financial management department extended the two policies with applicable deadlines in the “Sixteen Financial Articles” to the end of December 2024. Zou Lan introduced that this move will help guide financial institutions to continue to extend the stock financing of real estate companies and increase financial support for guaranteed delivery buildings. In addition, in light of the work needs of guaranteed delivery buildings, the period of the 200 billion yuan guaranteed delivery building loan support plan will also be extended to the end of May 2024.
According to reports, in the next step, the People’s Bank of China will adhere to the positioning of “housing and housing, not speculation”, and cooperate with relevant departments and local governments to do a solid job in ensuring the delivery of buildings, people’s livelihood, and stability, so as to meet the reasonable financing needs of the industry and continue to provide financial support for industry risks. Order to create a favorable financial environment.
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