Chinese State Council Prime Minister Li Keqiang on Tuesday (November 22) presided over the executive meeting of the State Council to point out that it is necessary to increase financial support for the real economy.Relief, timely and moderately use monetary policy tools such as downshoppers to maintain reasonable liquidity.
According to Bloomberg News on Wednesday (23rd), the People's Bank of China usually reduced its standards within a few days after the release of such statements.The deepening of the real estate crisis and the frequent epidemic caused the Chinese economy.China increased in October to the lowest level since 2019.Economists who have been investigated by Bloomberg predict that China's economy may increase by only 3.3%throughout the year, far lower than 5.5%of the official goals.Chinese officials have continued to weaken this goal for several months.
The Chinese government introduced two economic plans earlier this month to deal with major challenges, including relaxation of some epidemic prevention restrictions, and at the same time introduced aid plans for the real estate industry.
Analysts have previously expected that China will be reduced before the beginning of next year.This may replace some of the upcoming policy loans, which will release liquidity to the inter -bank system and reduce the financing cost of banks.
The People's Bank of China has become more confident in setting the monetary policy path that sets away from other economies of the world. In recent years, it has allowed the RMB exchange rate to be more flexible, while adjusting capital control measures.
In addition, the cooling and cooling of the United States also provides space for the Fed to slow down the radical interest rate hike, which also helps to limit the weakness of the RMB to the US dollar.
The last reduction of the People's Bank of China was in April this year. The deposit reserve ratio of most banks has been reduced by 25 basis points, which is less than the previous expectations of economists.The stimulus action of the People's Bank of China has been relaxed since this year, and fiscal measures are increasing to stimulate growth.
According to the Taiwan Economic Daily on Thursday (24th), the latest research report released by HSBC believes that the People's Bank of China still has room for relaxation in terms of fiscal policies.The possibility of a basis point is high to cope with the tightening of liquidity that may be caused by a large number of medium -term borrowing facilities (MLF) due to the remaining time.
CITIC Securities believes that comprehensive consideration of liquidity gaps, MLF expiration, the pace of interest rate hikes, the time point of the forever, etc., it is estimated that the possibility of the reduction at the end of this year to the beginning of next year,The probability of downgrading time is greater than December and November of this year.
According to reports from Xinhua News Agency on the 23rd, Li Keqiang hosted a executive meeting of the State Council on the 22nd to deploy a policies and continuation measures to be able to stabilize the economy and consolidate the foundation of the economy.The supervision working group was sent to promote the implementation of policies and measures in the early stage.
The meeting pointed out that all localities and departments must solidly implement a policy of stabilizing the economy and continuous measures, providing strong support for reversing the economic downturn in the second quarter and the stabilization of the economic market.Economic operation in the fourth quarter is very important for the year's economy. At present, it is a critical time point for consolidating the economic backbone. It is necessary to grasp the continuous recovery of the economy.
The meeting also pointed out that it is necessary to thoroughly implement the policy and measures of the stability of the economy, stabilize employment and stable prices, maintain economic operation in a reasonable range, and strive to achieve better results.The launch of fiscal and financial policies to support major project construction and equipment renewal and transformation in the early stage are important measures to promote investment with consumption and stabilize the economic structure. The policy effects are showing. At the same time, there are differences in the situation in various places.Pay attention to implementation.
In speeding up the equipment update and transformation, the meeting requested that on the basis of the basis of the project loan contract, the key work should be shifted to the special re -loan issuance and fiscal discount payment, and the use of funds to speed up the equipment purchase and transformation of the equipment to speed up the equipment purchase and renovation of the equipment.EssenceAt the same time, financial institutions are guided in accordance with the principles of marketization to increase manufacturing medium- and long -term loans, and promote the upgrading and development of the manufacturing industry.
As for stability and expanding consumption, the meeting shows that it is necessary to support the sustainable and healthy development of the platform economy and ensure the smooth flow of e -commerce and express networks.Implement policies for supporting rigidity and improving housing demand due to urban policy, and guide localities to strengthen policy propaganda interpretation.Promote the special borrowing of the insurance delivery building as soon as possible to the project as soon as possible, and motivate commercial banks to issue a new insurance loan loan to accelerate the construction and delivery of the project.Strive to improve the status of assets and liabilities in the real estate industry and promote the healthy development of the real estate market.
For the support of financial support for the real economy, the meeting pointed out that it is necessary to guide banks to make moderate benefits to the interest loan of inclusive small and micro -inventory, continue to do a good job of transportation, logistics and financial services, increase support for private enterprises' debt issuance of debt issuanceStrong, timely use monetary policy tools such as downgrade, to maintain reasonable liquidity.
The meeting finally emphasized the strengthening of supervision and services.The State Council of the State Council will send supervision working groups to relevant places before the end of November to supervise and required services to supervise the implementation of a policy of stabilizing the economy of the economy, and coordinate and solve the difficulties and problems in the implementation of the policy.For areas and areas where major projects and areas with slow equipment renewal, they need to find questions and reasons and make measures.
