On September 5, Liu Guoqiang, deputy governor of the People’s Bank of China, said at a press conference that in the next stage, the People’s Bank of China will implement a prudent monetary policy, strengthen the foundation for economic recovery and development, and will not flood the future or overdraft the future. Practical actions to meet the party’s 20 victories held.
One is to enhance the stability of total credit growth.On the basis of the new 800 billion yuan credit line for policy development banks and the 300 billion yuan policy development financial instrument line, an additional financial instrument line of more than 300 billion yuan, and the scale can be expanded according to actual needs. Increase support for infrastructure construction and major projects, and include the renovation of old communities and provincial expressways into the support areas. Guide financial institutions to expand medium and long-term loans, encourage financial institutions to issue special financial bonds for “agriculture, rural areas and farmers” and small and micro enterprises, and expand the sources of loanable funds.
The second is to promote the reduction of corporate financing costs.In January and August, the open market operation and the medium-term lending facility (MLF) winning bid rate dropped by 20 basis points twice. Down 0.15 percentage points, and the market quoted interest rate for loans with a maturity of more than 5 years down by 0.35 percentage points. In the next step, it is necessary to further exert the guiding role of the loan market quotation interest rate and the role of the market-oriented adjustment mechanism of deposit interest rates, and guide financial institutions to transmit the effect of the decline in deposit interest rates to the loan side, so as to reduce the cost of corporate financing and personal credit.
The third is to highlight key areas, weak links and support for industries affected by the epidemic.Make good use of re-loans to support agriculture and small businesses, and implement support tools to support clean and efficient use of coal, technological innovation, inclusive pensions, special re-loans for transportation and logistics, inclusive small and micro loan support tools, and carbon emission reduction support tools. Continue to implement deferred repayment of principal and interest for loans to small and micro enterprises, individual industrial and commercial households, truck drivers, and personal housing and consumer loans affected by the epidemic. Guarantee the reasonable financing needs of real estate, and reasonably support rigid and improved housing needs. Increase financial support for key areas of the platform economy in compliance with laws and regulations, and promote the healthy and sustainable development of the platform economy.