Yi Gang: precision drip irrigation of real economy must focus on small and micro enterprises

category:Finance
 Yi Gang: precision drip irrigation of real economy must focus on small and micro enterprises


Yi Gang, governor of the peoples Bank of China, said that under the counter cyclical adjustment of monetary policy, the financial market liquidity was reasonable and sufficient, and the financial data in the first half of the year were very stable.

In the face of the impact of the epidemic, the peoples Bank of China innovated monetary policy tools in a timely manner. In the first half of the year, the peoples Bank of China reduced the reserve ratio three times. In accordance with the needs of emergency supply guarantee, support for resumption of work and production, and protection of market entities, the peoples Bank of China provided 300 billion, 500 billion and 1 trillion rediscount loans in stages and gradients.

Yi Gang introduced that under the counter cyclical adjustment of monetary policy, the liquidity of the financial market was reasonable and sufficient, and the financial data in the first half of the year was very stable.

Yi Gang, governor of the peoples Bank of China: there are many bright spots in the macro financial data. The total financial indicators are obviously higher than last year. At the end of June, the growth rate of our broad money M2 was 11.1%, and the year-on-year growth rate of social financing scale was 12.8%, which were significantly higher than that of last year. In the first half of the year, the amount of new loans and the increment of loans were 12.1 trillion, an increase of 2.4% year-on-year trillions.

At the same time, the peoples Bank of China has comprehensively used a variety of monetary policy tools to guide the downward trend of interest rates in the financial market, thus significantly reducing the financing costs of enterprises.

Yi Gang, President of the peoples Bank of China: the loans of Inclusive Finance, small and micro enterprises, private enterprises and manufacturing industry have all reached a historical low. At present, the loans of Inclusive Finance are about 5%, down 0.8% compared with last year. Such a downward trend in interest rates has helped to support the real economy, significantly optimize the structure of our loans, and significantly increase the number of market participants supported by our inclusive small and micro loans.

According to the data, at the end of June, there were nearly 30 million market entities with credit and more than 23 million market entities with loan balance, most of which were small and micro enterprises and individual businesses.

Yi Gang: the pace of financial reform and opening up will not stop

Yi Gang, governor of the peoples Bank of China: we should implement the financial reform and opening-up measures announced in recent years, such as abolishing the restrictions on the share ratio of foreign investors in securities, fund management, futures, life insurance and other fields. We will also promote the comprehensive implementation of the management system of pre admission national treatment and negative list.

At the same time, Yi Gang said that the momentum of RMB internationalization is very good. In the first half of the year, the amount of cross-border receipts and payments of RMB was 12.7 trillion yuan, an increase of 36.7% over the same period of last year. RMB has become the second largest cross-border currency in China for eight consecutive years.

Yi Gang, governor of the peoples Bank of China: the share of RMBs foreign exchange reserves exceeded 2% in the first quarter, nearly double that when China joined the special drawing rights basket (SDR) in 2016.

Yi Gang: maintain macro aggregate, moderately stabilize enterprises and ensure employment

Yi Gang also said that in the second half of the year, monetary policy should be more flexible, moderate and precise oriented, and the implementation of various policies to stabilize enterprises and ensure employment should be carried out effectively.

Yi Gang mentioned that in the second half of the year, the peoples Bank of China will comprehensively use a variety of monetary policy tools to guide the growth of broad money supply and social financing scale, which is significantly higher than that of last year. At the same time, it should pay attention to grasp the rhythm and optimize the structure, so as to promote the reasonable growth of inclusive small and micro enterprise loans and medium and long-term loans of manufacturing industry.

The peoples Bank of China will also make efforts in deepening the reform of financial system and mechanism, making overall plans for financial poverty alleviation, and deepening the pilot projects of green finance, Inclusive Finance and science and technology finance.

Yi Gang, governor of the peoples Bank of China: we should fully implement the decision-making and deployment of the CPC Central Committee and the State Council, do a solid job in the six stability work, comprehensively implement the six guarantees task, maintain the moderate and reasonable growth of macro aggregate, focus on stabilizing enterprises to ensure employment, prevent and resolve major financial risks, accelerate the deepening of financial reform and opening up, and promote the healthy development of economy and finance. (editor Cui Zhilin) read the central bank: Recently, it plans to restore the relevant information of Huabai to the credit reporting system. Apples removal of wechat will cause a fatal blow to the iPhone. The supply chain plummets. Chinese businessmen buy masks with a price of 10 million yuan. Netizen: Diamond pricks his face? Source: CCTV news client editor: Wang Xiaowu_ NF

Yi Gang, governor of the peoples Bank of China: we should fully implement the decision-making and deployment of the CPC Central Committee and the State Council, do a solid job in the six stability work, comprehensively implement the six guarantees task, maintain the moderate and reasonable growth of macro aggregate, focus on stabilizing enterprises to ensure employment, prevent and resolve major financial risks, accelerate the deepening of financial reform and opening up, and promote the healthy development of economy and finance.

(editor Cui Zhilin)