The quality and efficiency of financial services to the real economy have been improved, Ruler Su Jinsheng | "A small month is not a small month"
As of the end of April, my country's RMB loan balance was 247.78 trillion yuan, a year-on-year increase of 9.6%; from January to April, various loans increased by 10.19 trillion yuan, a high level for the same period in history... Financial data recently released by the People's Bank of China shows that, Since the beginning of this year, financial support for the real economy has remained solid. It is particularly worth mentioning that April was originally a "small month" for traditional bank credit, but in April this year the credit supply was "a small month but not a small month", and the pace became more stable and moderate. According to estimates, new loans in April were more than 730 billion yuan, maintaining a year-on-year increase despite a high base of loan growth last year.
The economy is the body and finance is the blood. The two coexist and prosper together. Only when the financial blood flow is smooth can the economy be strong and healthy.
The Shanghai Headquarters of the People's Bank of China has promoted the establishment of the Shanghai Science and Technology Innovation Financial Alliance by more than 100 financial institutions and equity investment institutions. It plans to invest a total of 2 trillion yuan through equity, loans, bonds, insurance, etc. within three years to help the development of new productivity.
Shenzhen City has given full play to the role of carbon emission reduction support tools, and financial institutions have focused on key areas such as new energy storage and new energy vehicles, actively responded to corporate financing needs, and continued to optimize financial services.
In Sichuan, financial institutions have optimized loan issuance conditions and processes, promoted the use of small loan products such as "Shuxin e·Small Agricultural Loans", and promptly met the financial needs of new agricultural business entities and farmers.
Since the beginning of this year, my country's prudent monetary policy has been flexible, appropriate, precise and effective, and the total financial volume has grown steadily. Loans are mainly used to support enterprises to expand investment and production, meet the reasonable financing needs of the real economy, and create good monetary and financial resources for high-quality economic development. environment.
The total amount of credit is relatively abundant, and credit prices are more "people-friendly." Since the beginning of this year, my country’s financing costs have declined steadily. In April, the weighted average interest rate of new corporate loans was 3.76%, 23 basis points lower than the same period last year; the interest rate of new personal housing loans was 3.7%, 2 basis points lower than the previous month, and 48 basis points lower than the same period last year. are at historical lows.
The quantity increases, the price decreases, and the quality must be high. my country continues to optimize its credit structure and guide financial institutions to allocate more financial resources to key areas and weak links needed by the national economy. As of the end of April, the growth rate of my country's green loans and medium- and long-term manufacturing loan balances remained at a high level of around 30%, and the growth rate of "specialized, specialized, special and innovative" enterprise loan balances was nearly 20%, continuing to inject new momentum into economic development.
Currency is like flowing water, and if properly regulated, it will become the source of running water that supports the stable operation of the economy and allow the real economy to thrive. Just as water conservancy projects are built to accurately regulate water flow and better meet production and living needs, the important goal of monetary policy implementation is to accurately adjust the amount of funds to better support high-quality economic and social development.
Monetary policy is one of the main means of macroeconomic control. "A small month is not a small month" is a concrete manifestation of the flexibility, appropriateness, precision and effectiveness of monetary policy. Since the beginning of this year, the People's Bank of China has comprehensively used a variety of policy tools to support the recovery of the economy. It has lowered the reserve requirement ratio by 0.5 percentage points, released more than 1 trillion yuan of medium- and long-term liquidity, maintained reasonable and sufficient liquidity in the banking system, cut interest rates in a timely manner, and reduced agricultural support. The re-loan and re-discount interest rates for small businesses were supported by 0.25 percentage points, and the market quoted interest rates for loans with maturities of more than 5 years were guided to be reduced by 0.25 percentage points. The 500 billion yuan mortgage supplementary loan quota was completed, and a 500 billion yuan re-loan for scientific and technological innovation and technological transformation was established.
On this basis, the central bank strives to guide financial institutions to strengthen balanced credit extension, leaving stamina to support the real economy and improving the quality, efficiency and stability of credit growth. In previous years, financial institutions' "good start" indicator orientation to boost performance has weakened, and the "big and small month" phenomenon has eased. While maintaining support for the real economy, the investment rhythm has become more balanced, thus being able to provide stable and sustainable financial support for economic development.
Macroeconomic policies are an important driving force for China's economy to maintain stable operation and move towards high-quality development. At present, my country has sufficient space for monetary policy and a large reserve of regulatory tools. As long as we scientifically grasp the pace of efforts, continue to revitalize stocks, improve efficiency, further improve the guidance effectiveness of monetary and credit policies, closely follow major strategies, key areas and weak links, and focus on science and technology and finance , green finance, inclusive finance, pension finance, and digital finance, these five articles can fully unleash the regulatory potential of monetary policy and effectively protect the high-quality development of China's economy.
