The quality and efficiency of the real economy of financial services

The financial statistics released a few days ago show that in the first half of this year, my country was reasonable and abundant, the credit structure was optimized, the comprehensive financing costs of enterprises declined steadily, and the quality and efficiency of the real economy of financial services were improved. At the press conference of the State Council News Office held on the 13th, the relevant person in charge of the People's Bank of China explained in detail around the first half of 2022.

Stable monetary policy accurate effort

Data show that in the first half of this year, the People's Bank of China reduced the deposit reserve ratio of 0.25 percentage points, and the deposit profit was 900 billion yuan, which rationally increased liquidity supply. Financial institutions increased their credit support for the real economy. At the end of June, the general currency supply (M2) increased by 11.4%year -on -year, 2.8 percentage points higher than the same period last year; in the first half of the year, the scale of social financing increased by 2.1 trillion yuan, an increase of 3.2 trillion yuan year -on -year. Increasing 13.68 trillion yuan, an increase of 919.2 billion yuan over the same period last year.

"In the first half of this year, the People's Bank of China increased its stable monetary policy implementation, exerting dual functions and structural dual functions of monetary policy tools, and strive to serve the real economy and stabilize the economic market." Ruan Jianhong said.

At the same time, the People's Bank of China has fully played the precise guidance of structural monetary policy, launched a number of structural monetary policy tools to increase the support of inclusive micro -loan. At the end of June, the balance of medium- and long -term loans invested in the manufacturing industry increased by 29.7%year -on -year, 18.5 percentage points higher than the growth rate of various loans; the balance of inclusive micro -loan increased by 23.8%year -on -year, which was 12.6 percentage points higher than the growth rate of various loans. The number of people awarded the small micro -awarded households was 52.39 million, a year -on -year increase of 36.8%.

The People's Bank of China continues to optimize the policy interest rate system of the Central Bank, strengthens the supervision of deposit interest rates, and strives to stabilize the cost of bank liabilities. In June, the interest rate of the newly absorbed regular deposit was 2.5%, which was 16 basis points lower than the same period last year. Give full play to the reform potential of the loan market quotation interest rate (LPR), and the one -year LPR and 5 -year LPR decreased by 10 basis points and 20 basis points, respectively, and reduced the comprehensive financing cost of the enterprise. In June, the interest rate of new corporate loans was 4.16%, 34 basis points lower than the same period last year.

Realize "higher growth, lower inflation"

Statistics show that since the fourth quarter of 2020, my country's stable leverage has achieved significant results, and the macro leverage ratio has declined for five consecutive quarters, creating valuable policy space for subsequent complicated situations. From an international comparison, since the epidemic, the increase in macro leverage in my country has significantly lower than other major economies, and has supported the rapid recovery of economic recovery with relatively few new debt.

Ruan Jianhong analyzed that China has supported the optimized combination of "higher growth and lower inflation" with a mild macro leverage increase, which shows that the macro policies are strong, more than effective. In the first quarter of this year, my country's macro leverage ratio was 277.1%, 4.6 percentage points higher than the end of the previous year. Ruan Jianhong believes that the occurrence of macro leverage ratio is not only an objective reflection of external impact, but also the embodiment of the stable macroeconomic market. "As the domestic epidemic prevention and control situation continues to improve, and the economic package policy and measures to accelerate the effectiveness of landing, my country's economy has shown a significant recovery momentum, which has also created conditions for maintaining a reasonable macro leverage level in the future." Ruan Jianhong pointed out.

In the second quarter of this year, the People's Bank of China ’s storage household questionnaire survey showed that 58.3%of the residents tending to“ savings ”, an increase of 3.6 percentage points from the previous quarter. 3.7 percentage points. Ruan Jianhong analyzed that the marginal rise of residents 'willingness to save deposits, and the marginal decline of investment willingness was mainly due to the repeated in local areas of the new crown pneumonia in the second quarter, and the residents' preference for liquidity increased. At the same time, the volatility of the capital market has increased, and the risk preferences of residents have decreased. It is expected that with the gradual alleviating of the epidemic, residents' willingness to invest will gradually recover, and consumption willingness will return steadily.

(Reporter Wen Yuan)

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