The National Frequency will deploy the cost of personal consumer credit.

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According to Xinhua News Agency, Premier Li Keqiang of the State Council hosted a executive meeting of the State Council on August 18 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 improve the formation of market -oriented interest rates and conduction mechanisms, give play to the guidance of the loan market quotation interest rate (ie, LPR), support the recovery of valid demand for credit, and promote the reduction of comprehensive financing costs of enterprises and personal consumer credit costs.

Su Jian, director of the National Economic Research Center of Peking University, pointed out to Hongxing Journalist that in the last month of the first half of the year, the economic stability and rebounded, but there was a certain fluctuation in July. Under the current economic situation, loans are one of the methods to improve consumption power, which is equivalent to getting future money to consumption in the future. In macroeconomics, the "cross -future replacement" of consumption is called consumption.

Expert: LPR this month is likely to be lowered again

Earlier, the executive meeting held by the State Council on July 21 In stimulating the consumer field, it clearly supports more flexible arrangements for financial institutions to adopt personal consumer loans affected by the epidemic.

Personal consumer credit still has room for stimulation. According to the statistics of the People's Bank of China, at the end of the second quarter of 2022, the balance of loans from domestic and foreign currency residents was 73.29 trillion yuan, an increase of 8.2%year -on -year, and the growth rate was 4.3 percentage points lower than the end of the previous year.

Among them, the balance of other consumer loans (excluding personal housing loans) of the residents was 16.68 trillion yuan, an increase of 5.8%year -on -year, and the growth rate was 3.7 percentage points lower than the end of the previous year. The balance of personal housing loans was 3.886 trillion yuan, an increase of 6.2%year -on -year, and the growth rate was 5.1 percentage points lower than the end of the previous year.

Su Jian, director of the National Economic Research Center of Peking University, pointed out to Hongxing Journalist that in the last month of the first half of the year, the economic stability and rebounded, but there was a certain fluctuation in July. Under the current economic situation, loans are one of the methods to improve consumption power, which is equivalent to getting future money to consumption in the future. In macroeconomics, the "cross -future replacement" of consumption is called consumption.

Su Jian also pointed out that it is stimulating to reduce the cost of personal consumer credit is consumption that requires loans, that is, large -scale consumption such as real estate and cars. Therefore, buy a house and buy a car.

In July, the national economy continued to recover, but in the July financial data released by the People's Bank of China on August 12, the scale of new credit and social integration was less than expected. In July, RMB loans increased by 679 billion yuan, an increase of 404.2 billion yuan year -on -year. Among them, resident loans increased by 121.7 billion yuan, short -term loans of residents decreased by 26.9 billion yuan, and medium- and long -term loans increased by 148.6 billion yuan.

In this context, on August 15th, the central bank cut interest rates, representing the mid -term borrowing convenience (MLF) operation and the open market inverse repurchase operation of short -term policy interest rates on behalf of the midterm policy interest rates, all of which decreased 10 basis points.

Since the LPR reform, the monetary policy transmission mechanism of "market interest rate+central bank guidance → LPR → loan interest rate" has continued to open. Su Jian predicts that LPR is likely to be reduced again this month, and the mortgage interest rate will decrease.

Multiple banks have lowered consumer loan interest rates

Since the beginning of this year, the loan interest rate has been decreasing, and the cumulative 1 -year LPR and 5 -year LPR have fallen 10 basis points and 20 basis points, respectively. Among them, the LPR of January 1 year has dropped by 10 basis points, and 5 years or more. Base point, 15 basis points are reduced by LPR above May 5.

Earlier, many banks concentrated on consumer loan interest rates. At present, the interest rates of the four major banks are as low as 4%as low as 4%. For example, for users who meet the standards, the annualized interest rate of Agricultural Bank of the Capita loan is as low as 3.7%.

In an interview with Red Star News reporters, Su Jian also reminded that when banks increasing consumer loans, they need to pay attention to preventing systemic risks. They flexibly handle the proportion of loan lending in accordance with their own conditions. For lenders, you need to do your best and not consume blindly.

Red Star reporter Hu Yiwen Zhang Yanliang Beijing report

Editor Deng Yiguang Editor Pan Li

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