Finance places greater emphasis on supporting the real economy, reducing financing costs, and boosting market confidence and interest rates. Entity | Economy | Financing
CCTV News: Since the beginning of this year, China's economy has continued to recover. Next, we will focus on the development of the real economy. Has the real economy received strong support in the first half of the year? What are the characteristics of the development of the real economy? What discoveries can be made through financial data? Let's see the journalist's interview with the chief economists.
Guan Tao, Global Chief Economist of Bank of China Securities, conducts long-term tracking and research on macroeconomic data. In the first half of the year, the People's Bank of China lowered the reserve requirement by 0.25 percentage points, and various RMB loans increased by 15.73 trillion yuan. In his view, both of these data reflect a major characteristic of currency supply in the first half of the year: sufficient total amount, which means that finance can better meet the needs of the real economy, and also means maintaining reasonable and sufficient market liquidity.
Bank of China Securities Global Chief Economist Guan Tao: This chart reflects market interest rates and benchmark interest rates. What does this picture tell us? Starting from the end of last year, especially in the first half of this year, the market interest rate fluctuated around the seven day reverse repurchase rate, indicating that our central bank's management of market liquidity not only met reasonable needs, but also prevented large fluctuations in fund prices.
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The loan price is of greater concern to businesses and residents. In the first half of the year, the weighted average interest rate for newly issued corporate loans was 3.96%, which continued to decline compared to the same period last year and is a historically low level. In terms of residential loans, the personal housing loan interest rate in June also decreased to 4.11%. The financing costs of the real economy continue to stabilize while decreasing, and financial support for the economy continues to strengthen.
Wen Bin, Chief Economist of China Minsheng Bank: Finance attaches greater importance to supporting the real economy, including implementing interest rate cuts in June, which will further reduce the financing costs of the real economy and boost the confidence of market entities.
Dong Ximiao, Chief Researcher of Zhaolian: While increasing credit investment in the real economy, it also promotes a stable and reduced financing cost for the entire society. It should be said that both the average loan interest rate of the entire enterprise and the personal consumption credit interest rate have shown a downward trend.
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