Central Bank: Provide more powerful and higher quality support for the real economy

The People's Bank of China released the "China Monetary Policy Implementation Report in the Second quarter of 2022" (hereinafter referred to as the "Report"), which proposed to increase the implementation of stable monetary policy and give full play to the dual functions and structural dual functions of monetary policy tools. Take the initiative, boost confidence, do a good job of cross -cyclical adjustment, take into account short -term and long -term, economic growth and stable prices, internal equilibrium and external balance, insist on not engaged in "large water irrigation", do not exceed currency, and provide more powerful the real economy to provide more powerful the real economy. , Higher quality support.

The report pointed out that a variety of monetary policy tools are comprehensively used to maintain reasonable liquidity and abundant liquidity, maintain a reasonable increase in monetary supply and social financing scale, and strive to achieve the best results of economic operation. Pay close attention to changes in various uncertain factors in international and domestic, in -depth and judge the liquidity supply and demand status of the banking system, improve the forward -looking, flexibility and effectiveness of operations, stabilize market expectations, and balance internal and external equilibrium. Improve the monetary supply regulation mechanism, and continuously alleviate the three major constraints of the liquidity, capital and interest rates of bank credit supply, and guide financial institutions to increase credit support for the real economy in accordance with the principles of marketization and prudent operations. Guide the developmental policy bank to implement the newly added 800 billion yuan credit quota and the newly established 300 billion yuan financial instruments, which strongly supports infrastructure project financing. Improve the sustainable capital supplementary mechanism, supplement the capital of commercial banks in multiple channels, increase the support of capital supplementary tools such as small and medium -sized banks to issue sustainable debt, and improve the ability of banks to serve the real economy and prevent financial risks.

The report is also clear that structural monetary policy tools are "focused on key points, reasonable and moderate, there are advanced and retreat", "highlighting financial support key areas and weak links" and "institutional mechanisms to build financial effects to effectively support the real economy."

It is worth noting that the report pointed out in a column entitled "Evolution and Trends of the Credit Structure in recent years" that looking forward to the future, credit growth will be compatible with my country's economy from high -speed growth to high -quality development processes, and the total value of the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable, and the total amount is stable. Outstanding structure. According to the report, with the evolution of the long -term trend of the long -term real estate cycle in the process of urbanization, the demand for infrastructure loans and real estate loans with large magnitude in the past has weakened, and the amount of loans such as inclusive small and high -tech manufacturing is still relatively small. In addition, the direct financing is on the rise, and credit growth may fall in the process of changing gear and gear and financing structure in new and old. The weakening, the growth rate of monetary supply and the growth rate of social financing will remain basically matching.

Source: Xinhuanet

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