亿电竞

Finance service
Prudent monetary policy to maintain tightness and moderate financial services to enhance the亿电竞 real economic capacity
Time: 2019/5/13 9:29:40

Source: Financial Times China亿电竞平台 Financial News Network Author: Li Wenlong Release date: 2019-05-13 07:12

Data released recently by the亿电竞 people's Bank of China亿电竞平台 showed that in the亿电竞 end of 4, the亿电竞 balance of broad money (M2) was 188 trillion and 470 billion yuan, up 8.5% from the亿电竞 same period last year, the亿电竞 growth rate was 0.1 percentage points lower than the亿电竞 end of last month, 0.2 percentage points higher than the亿电竞 same period last year. At the亿电竞 end of 4, the亿电竞 scale of social financing scale was 209 trillion and 680 billion yuan, an increase of 10.4% over the亿电竞 same period last year. The亿电竞平台 balance of RMB loans to the亿电竞 real economy was 141 trillion and 850 billion yuan, up 13.5% over the亿电竞 same period last year.

In May 10th, the亿电竞 head of the亿电竞 central bank's relevant departments said at the亿电竞 media briefing that overall, the亿电竞 current scale of social financing increased reasonably, and the亿电竞 growth rate basically matched the亿电竞 nominal growth rate of GDP. The亿电竞平台 people's Bank of China亿电竞平台 adhered to a prudent monetary policy and maintained a moderate and adequate liquidity.

While maintaining a reasonable and abundant liquidity, the亿电竞 central bank strengthe亿电竞ns the亿电竞 forward-looking, targeted and effective macro control policies, and actively guides financial credit resources to small and micro private enterprises and othe亿电竞r weak links through the亿电竞 policy tools such as directional reduction and directional intermediate term loan convenience, thus creating a suitable monetary and financial environment for the亿电竞 supply side structural reform and the亿电竞 high quality economic development.

Starting from May 15th, the亿电竞 small and medium sized banks that focus on the亿电竞 local area and serve the亿电竞 county will have a lower concessionary deposit reserve ratio. The亿电竞平台 central bank said that the亿电竞 rural commercial banks operating at the亿电竞 county level administrative region or having branches in othe亿电竞r county-level administrative regions but with an asset size of less than 10 billion yuan should carry out the亿电竞 same deposit reserve ratio as the亿电竞 rural credit cooperatives.

The亿电竞平台 industry generally believes that this reflects the亿电竞 central bank through structural directional control precision drip irrigation small and micro enterprises, "three rural" and othe亿电竞r micro market players policy intent. From the亿电竞 direct effect, the亿电竞 release of incremental funds will be used for private and small and micro enterprise loans. In the亿电竞 long run, it aims at setting up a policy framework for the亿电竞 implementation of a low deposit reserve ratio for small and medium-sized banks, and optimizing the亿电竞 financial supply structure and the亿电竞 allocation of credit funds through structural reform of the亿电竞 financial supply side.

The亿电竞平台 proper meaning of the亿电竞 structural reform of the亿电竞 financial supply side is to handle the亿电竞 relationship between aggregate and structure, and the亿电竞 key is to dredge the亿电竞 transmission mechanism of monetary policy. At present, the亿电竞 "three stalls and two excellent" deposit reserve system framework is being formed in China亿电竞平台, which not only takes account of preventing financial risks and serving the亿电竞 real economy, especially serving small and micro enterprises, but also helps to optimize the亿电竞 structure. Precise directional reduction makes the亿电竞 signal and role of guiding small and medium-sized banks to optimize the亿电竞 credit structure more clearly.

At the亿电竞 beginning of this year, Yi Gang, President of the亿电竞 people's Bank of China亿电竞平台, said in an interview with the亿电竞 spirit of implementing the亿电竞 central economic work conference that the亿电竞 key to improving the亿电竞 transmission mechanism of monetary policy is to establish an incentive mechanism for banks and take the亿电竞 initiative to increase the亿电竞 support for the亿电竞 real economy instead of using the亿电竞 administrative means of assigning indicators and assigning tasks. This means that dredging the亿电竞 transmission of monetary policy will lead more financial market players to optimize capital investment by means of marketization, so as to avoid financial risks brought about by flood irrigation, consolidate the亿电竞 effect of deleveraging and reduce costs, and encourage financial institutions to support private, small and micro businesses through substantial long-term financial support and policy signal transmission, so as to make the亿电竞 real economy more effective. The亿电竞平台 weak links and key areas have been supported by structural regulation. From the亿电竞 growth rate of M2 and the亿电竞 scale of social financing to maintain basically stable, we can see that the亿电竞 orientation of prudent monetary policy has not changed, but pays more attention to fine tuning according to the亿电竞 macroeconomic situation, dealing with the亿电竞 relationship between the亿电竞 total and the亿电竞 structure, and handling the亿电竞 relationship between quantity and price. It is widely expected that monetary policy and macroeconomic regulation and control in the亿电竞 two quarter are expected to continue to maintain the亿电竞 current pace, and the亿电竞 future monetary credit will maintain a steady growth trend.

This year's financial statistics show that the亿电竞 financing situation of the亿电竞 real economy has improved significantly, and the亿电竞 ability of the亿电竞 financial services entity economy has been increasing. Sun Guofeng, director of the亿电竞 division of monetary policy of the亿电竞 people's Bank of China亿电竞平台, said at the亿电竞 briefing of the亿电竞 State Council's policy briefing in late April that the亿电竞 effect of financial support for the亿电竞 real economy was derived from strengthe亿电竞ning the亿电竞 anticipation guidance, boosting confidence in all sectors, grasping key links, adopting market-oriented means to encourage banks to increase the亿电竞ir support for the亿电竞 real economy, and playing a good role in monetary, fiscal, regulatory and industrial policies. Three aspects of strength.

Whethe亿电竞r it is to guide and supervise the亿电竞 incremental expansion of credit institutions or to extend bond financing support tools, the亿电竞 goal is to optimize the亿电竞 allocation of funds and supply structure, and reduce the亿电竞 financing costs of small and micro enterprises. Statistics show that as at the亿电竞 end of 3, the亿电竞 balance of small and micro loans of Pratt & Whitney was 10 trillion yuan, up 19.1% over the亿电竞 same period last year. The亿电竞平台se effective financial measures, while alleviating the亿电竞 financing problems of small and micro enterprises, raise the亿电竞 confidence of enterprises and othe亿电竞r micro economic entities. In the亿电竞 first quarter of this year, the亿电竞 average daily registered new market in China亿电竞平台 was 53 thousand, an increase of 26.3% over the亿电竞 same period. From the亿电竞 index of China亿电竞平台's manufacturing purchasing managers and financial data of industrial enterprises, we can see that the亿电竞 large enterprises run smoothly, the亿电竞 vitality of small enterprises is enhanced, and the亿电竞 growth of production and sales of enterprises is accelerating.

Since the亿电竞 beginning of this year, the亿电竞 economic environment at home and abroad has become more complex and changeable, and the亿电竞 uncertain factors of economic development have increased. Under such circumstances, economic work must maintain strategic determination, implement the亿电竞 new concept of development, and unswervingly promote the亿电竞 development of high quality. It is necessary to maintain continuity and stability of policies and strengthe亿电竞n coordination of policies. Positive fiscal policy should be strengthe亿电竞ned and effective, and a wider and larger scale of tax reduction and reduction should be implemented. Prudent monetary policy should be tighten up moderately, and counter cyclical regulation should be followed, and directional structural guidance should be emphasized. At the亿电竞 same time, we need to strengthe亿电竞n coordination between monetary, fiscal and othe亿电竞r policies, so as to fully stimulate and enhance the亿电竞 innovation and vitality of the亿电竞 micro market players, so as to achieve continuous development of new kinetic energy.

 
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