Central Bank: Keep real estate credit stability and speed up exploring new real estate development models

China Economic Net, Beijing, August 1st. According to the website of the central bank, on August 1, the People's Bank of China held a work conference in the second half of the 2022 to study and implement the decision -making and deployment of the Party Central Committee and the State Council on economic and financial work. , Analyze the current economic and financial situation, and deploy key work in the second half of the year. The meeting requested that the city's policy implemented a differentiated housing credit policy. Maintain the stable financing channels such as real estate credit, bonds, etc., and accelerate the exploration of new real estate development models.

The meeting believes that since 2022, in the face of the intricate economic and financial situations at home and abroad, the People's Bank of China has adhered to the guidance of Xi Jinping's new era of socialism with Chinese characteristics in the new era, and conscientiously implemented the spirit of the Central Economic Work Conference and the deployment of the "Government Work Report". Under the coordinated command of the Financial Commission, the Office of the Financial Commission will take the lead in the general role of the Financial Commission's office, in accordance with the requirements of "the epidemic should be defended, the economy must stabilize, and the development must be safe". Resolutely support the stability of the economic market, effectively prevent and control financial risks, continue to deepen financial reform, effectively improve financial services, earnestly carry out central inspections and rectification, and achieve new results in all aspects.

First, the implementation of stable monetary policy has been further increased. Reduce the deposit reserve rate of 0.25 percentage points, and the liquidity remains at a reasonable and abundant level. Guide the public market 7 -day reverse repurchase operating interest rate, interim loan convenience rate, one -year and 5 -year loan market quotation interest rates moderately decline, and establish a market -oriented adjustment mechanism for deposit interest rates. From January to June, the average interest rate of corporate loans was reduced to a new low. At the end of June, the growth rate of broad currencies (M2), social financing, and RMB loan balances exceeded 10%, which increased its support for the real economy. The RMB exchange rate has remained basically stable at a reasonable and balanced level.

The second is to stabilize the key areas of the economic market to receive effective financial support. Introduced 23 policies and measures of financial support for the prevention and control of the epidemic and economic and social development. Increase the implementation of inclusive small and micro loan support tools, and establish a mechanism for financial services for small and micro enterprises to loan the long -term loan loan. Make good use of supporting agricultural support loans and carbon emission reduction support tools. Create special re -loans of scientific and technological innovation, inclusive pensions, and transportation and logistics to increase civil aviation emergency loans. Increasing policy banks of 800 billion yuan in credit lines, promoting the establishment of 300 billion yuan in policy development financial instruments, and supporting medium and long -term infrastructure loans. Pratt & Whiller loans and investment in the manufacturing industry have increased significantly year -on -year.

Third, the macro -prudential policy framework continues to improve. Published the "Guidelines for Macro Protection Policy (Trial)". Steady on macro -prudential pressure testing. Implementing systemic bank additional supervision. Organize the assessment of the important bank of domestic system. Formally approve the establishment of two financial holding companies to conduct comprehensive, continuous and penetrating supervision of financial holding companies.

Fourth, some highlights of financial risks have been stable. The risk disposal of key groups and large corporate risks has been steadily advanced. Support local governments and regulatory departments in many provinces to dispose of risk incidents of individual enterprises and individual institutions. Lead the establishment of a financial stability guarantee fund. Maintain smooth and orderly financing in the real estate market, guide personal housing mortgage loans to decline, and support rigid and improved housing needs. The disorderly expansion of large platform companies in the financial field has been effectively curbed, and the rectification work has achieved remarkable results.

Fifth, the reform of the financial system and mechanism continues to deepen. Unified overseas investors invest in my country's bond market policies. Promote the interconnection of inter -bank bond markets and exchanges bond markets, and interconnection of the interest rate exchange market in the Mainland and Hong Kong interest rates. Support local governments to issue special bond funds to supplement small and medium bank capital. Promote the expansion and upgrading of the inclusive financial reform pilot zone. Formulate a list of key promotion of green financial standards. RMB internationalization is steadily and orderly. Establish a stand -up arrangement with the Hong Kong HKMA. Support the development of new trade formats and pilots of cross -border financing.

Sixth, the financial international cooperation is promoted in depth. The first review of the RMB has successfully joined the International Monetary Fund's special withdrawal rights. The weight has increased from 10.92%to 12.28%. Actively participate in designing and signing the RMB liquidity arrangements to join the International Clearance Bank, and promote the funding for the implementation of the local currency of the Emergency Reserve of the BRICS countries. Take the initiative to promote the international cooperation of green finance, take the lead in formulating the G20 transformation financial framework, update China -Europe "Sustainable Finance Common Catalog", and promote the implementation of the "Belt and Road" Green Investment Principles.

Seventh, the quality and efficiency of financial services and financial management have improved. A number of financial legislative projects such as the Financial Stability Law have made positive progress. The national financial basic data sharing has expanded steadily. The structure of the payment service market is continuously optimized. The "capital chain" governance of fraud and gambling has achieved positive results. The central bank's data information sharing and collections are progressing smoothly. The cash access business management of banking financial institutions has been further strengthened. VAT retain tax refund policy has been efficiently landed. Small and micro enterprises' "Credit Credit" has achieved remarkable results in stabilizing enterprises. It has benefited important progress in the construction of a specific non -financial industry's anti -money laundering system. The protection of financial consumption rights and interests has continued to advance. Audit supervision, party school running, trade unions and youth work, retired cadre services, financial budgets, centralized procurement, organs' services have achieved new results, which provides a strong guarantee for effective performance.

The meeting requested that the People's Bank of China should further fulfill the responsibilities of the Financial Commission's office in accordance with the decision -making and deployment of the Party Central Committee and the State Council, adhere to the general tone of steady progress, maintain reasonable liquidity, increase the credit support for the enterprise, maintain the overall financial market overall Stability, consolidate the trend of economic recovery, do a good job of implementing policies and measures, focus on stabilizing employment, stabilizing prices, play a key role in effective investment, and maintain economic operation in a reasonable range. The first is to maintain the smooth and moderate growth of currency credit. Comprehensively use a variety of monetary policy tools to maintain reasonable liquidity. Guide financial institutions to increase loans to the real economy and maintain continuously growing loans. Guide the actual loan interest rate to drop steadily. Maintain the basic stability of the RMB exchange rate at a reasonable balance. Use policy development financial instruments to focus on supporting the construction of infrastructure fields. Increase financial support for key areas such as private small and micro enterprises.

The second is to securely resolve the risks of key areas. Prevent and resolve the risk of small and medium banks. Differential housing credit policies are implemented due to urban policies. Maintain the stable financing channels such as real estate credit, bonds, etc., and accelerate the exploration of new real estate development models. Supervise platform enterprises to fully complete rectification, implement standardized, transparent, and expected normalized supervision, and give full play to the role of the platform economy to create employment and promote consumption.

The third is to improve the macro -prudential management system. Carry out macro -prudential pressure tests. Implement system importance bank additional regulatory requirements, and introduce the evaluation methods of system importance insurance companies. The market access market for good financial holding companies will be carried out in all aspects of financial holding companies.

The fourth is to deepen the reform of the financial market. Accelerate the development of the counter market, and establish a multi -level infrastructure service system such as bond hosting, marketing, liquidation, and settlement. Promote the healthy development of bills, gold, currency, and derivatives. Optimize the management of funds for bonds in overseas institutions, unify the management policy of open funds for open funds between banks and exchange bond markets, and improve the foreign exchange management policy of domestic enterprises. Steady to promote the pilot work of multinational companies' domestic and foreign currency integration funds. Strengthen the macro -prudential management of expected management and cross -border fund flow. Improve foreign exchange reserves management capabilities.

Fifth, steadily improve the level of RMB internationalization. Strengthen the collaboration of local and foreign currency policies. Consolidate the market foundation for trade investment in RMB settlement. Support overseas entities to issue "panda bonds", steadily promote the launch of "exchange", and improve the liquidity of RMB financial assets. Support the healthy and orderly development of the offshore RMB market.

Sixth, in -depth participation in global financial governance. Continue to do a good job in the G20 sustainable finance. Relying on multilateral platforms to promote global macro policy coordination. Further improve the management model of national treatment and negative list before the financial field access, and enhance the convenience of overseas investors to invest in the Chinese market.

Seventh, continue to improve financial services and management levels. Promote the construction of a financial legal system. Further strengthen the "research and establishment". Continue to promote regional financial reform and innovation. Promote the coordination and effective implementation of the comprehensive statistical standards of the financial industry. Improve the ability to pay the real economy. Strengthen the application and management of fintech. Do a good job in the key work of currency gold and silver and security. Orderly expand the pilot of digital RMB. Promote the high -quality development of the treasury and the construction of the credit reporting system. Carry out anti -money laundering work solidly. Seriously investigate and deal with illegal acts that infringe on the rights of financial consumers. Improve internal management normality and effectiveness.

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