Policy financial instruments have increased by 300 billion yuan.

24.08.2022

Number of this text: 1352, the reading time is about 2 minutes old

Guide: The stimulus of the existing tool may be slightly insufficient for the second half of the year.

Author | First Finance Du Chuan

Policy financial instruments continue to expand.

Recently, the executive meeting of the State Council was held to deploy the continuation policies and measures to deploy a policy of stabilizing the economy, and to consolidate the foundation of economic recovery development.

The meeting pointed out that the current economy continues the development of development in June, but the recovery foundation is not firm. It is necessary to efficiently coordinate the prevention and control of the epidemic and the development of economic and social development. Adhering to the development of all problems in my country is to solve all problems in our country, timely and decisively, to maintain a reasonable scale of policy, use tools in the toolbox to consolidate the foundation of economic recovery development, and do not do not, but not Fuck the big water and do not overdraw the future.

The meeting proposed that while implementing a policy of stabilizing the economy, 19 continuation policies were implemented to form a combined effect, promoting economic stability and good operation, maintenance in a reasonable range, and striving for the best results. Among them, the amount of policy development financial instruments increased by more than 300 billion yuan, and used more than 500 billion yuan in special debt deposit limit in accordance with the law. Continue to release the reform of the loan market quotation interest rate reform and conduction effect, and reduce financing costs.

"Although policy financial instruments are financial policy, if the difference between the main body of leverage, its actual role in infrastructure investment is similar to the government budget. For project capital, it is expected to drive at least 1.1 trillion yuan of infrastructure investment. "Earlier, CITIC Securities Chief Economist has obviously analyzed that policy financial instruments are more flexible. Demand does not rule out the possibility of continued expansion of policy financial instruments.

Obviously, the decline in income growth and increased expenditure demand are the dual tests facing the financial in the short term. The stimulus of the stock tools may be slightly insufficient for the entire second half of the year, and the financial may be supported by the launch of incremental tools.

Dong Ximiao, chief researcher at Zhailian Financial, said that the executive meeting of the State Council decided to increase the amount of policy development financial instruments of more than 300 billion yuan, which helps to better solve problems such as the difficulty of capital in place in major projects, leveraging more private capital participation, and more Good use of the comprehensive effects of investment in the shortcomings of the shortcomings and stabilizing employment to promote consumption, promote the steady development of the economy, and ensure the stability of the macroeconomic market.

On August 22, Yi Gang, president of the President of the People's Bank of China and director of the Office of the Financial Committee of the State Council, hosted a symposium on some financial institutions. The meeting pointed out that policy development banks make good use of policy development financial instruments to increase the construction of network infrastructure, industrial upgrading infrastructure construction, urban infrastructure construction, agricultural and rural infrastructure construction, national security infrastructure construction The support of related projects in key areas will form a physical workload as soon as possible, and drive loans.

According to previous introductions, in order to solve problems such as difficulty in capitalization of major projects, the People's Bank of China supports national development banks and agricultural development banks to set up policy and development financial instruments, with a total scale of 300 billion yuan. It is used to supplement investment including new infrastructure. The capital of major projects does not exceed 50%of all capital.

First Financial reporter noticed that in the near future, this innovative financial instrument has accelerated densely in many places across the country. Policy, developmental financial instruments are tight and heavy, and the task is heavy. If you realize it as soon as possible, you can press the "fast -forward key" for the construction of major projects.

For example, as of August 14, Yunnan Province has launched 24 policy development financial tool projects with a amount of 15.152 billion yuan in funding. In Guangdong, in order to achieve policy development financial instruments as soon as possible, there will be a number of foundations for opening a number of countries. Facilities fund and agricultural hair infrastructure fund, injecting the "live water" into the financial "living water" in order to expand effective investment -August 11, the National Bank of China Guangdong Branch signed a contract of 29.36 million yuan in Guangdong Province project contract and achieved its first placement to effectively resolve Guangzhou The capital gap in the upgrade and reconstruction project of Baishui Village, Paitan Town, Zengcheng District, City; on the 12th, the Agricultural Issuance Guangdong Branch was launched in Guangdong Province's first agricultural hair infrastructure fund of 58.62 million yuan. As a project capital, it was used to support Huizhou Port Tsuen Wan Port District 50,000 tons of liquefied hydrocarbons project.

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