State Council: Promote the reduction of comprehensive financing costs of enterprises and personal consumer credit costs

On August 18, Premier Li Keqiang of the State Council hosted a executive meeting of the State Council to deploy measures to promote the reduction of corporate financing costs and personal consumer credit costs, and increase financial support for the real economy.

The meeting pointed out that the current economy continues to resume development, but there are still slight fluctuations. It is necessary to implement the deployment of the Party Central Committee and the State Council, increase the financial and monetary policy to support the real economy, further consolidate the foundation of economic recovery, and maintain economic operation in a reasonable range. Activate the local special debt limit space in accordance with the law. Improve market -oriented interest rate formation and conduction mechanism, give full play to the guidance of the loan market quotation interest rate, support the recovery of valid demand for credit, and promote the reduction of comprehensive financing costs of enterprises and personal consumer credit costs.

In an interview with WeChat, a macro researcher at the Everbright Bank Financial Market Department, Zhou Maohua said in an interview with the reporter of "Daily Economic News" that due to the complex environmental environment of internal and external environment, the short -term economic recovery has fluctuated. It is currently in a critical period of economic recovery. Strong, consolidate the foundation of economic recovery. Earlier, the central bank's policy interest rate was intended to guide financial institutions to reduce the cost of financing in the real economy and stimulate the vitality of the micro -subject. It is expected that the LPR interest rate will be lowered this month to promote the rebound of the real economy financing.

The chief economist of CITIC Securities clearly told reporters that the economic downturn has been under great pressure in the near future. In addition, the credit data performance in July is weak and less than market expectations. Therefore, this time, the executive meeting of the State Council proposed to reduce the financing costs of individuals and enterprises, which is intended to play the function of financial support. This week, the central bank has also reduced policy interest rates. The role of stimulates more credit needs.

Earlier, the central bank announced in July financial data. The growth rate of M2 continued to rise, but the increase in new loans and social merges fell sharply. In July 2022, the increase in social financing increased by 756.1 billion yuan, 319.1 billion yuan less than the same period last year, a 6 -year low. In addition, RMB loans increased by 679 billion yuan in July, an increase of 404.2 billion yuan year -on -year.

At that time, some analysts pointed out that from July financial data can be seen that the current foundation of my country's economic recovery is still unstable, and various stable growth measures should be continued in the next stage, especially to strengthen fiscal, currency, industry, and employment. The coordination and cooperation of policies, stable external demand, expand domestic demand, promote consumption, expand investment, and support valid demand for credit.

Daily Economic News

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